Last year marked a stellar year for global capital markets and the case for India proved no exception.
Across all three investment banking pillars equities, debt and MA, the Indian market delivered on robust momentum, with over $35 billion of issuances across ECM in both 2020 and 2021, according to Dealogic data. Sure enough, 2022 was off to a solid start, with activity propped up by a strong IPO pipeline.
But while the first quarter saw large onshore and offshore DCM issuances to the tune of $6.79 billion from India’s government and corporate sectors, India would go on to take a 15% hit. Concurrent with all...
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