Barclays Plans To Rebuild India ECM Business From The Ground Up To Compete For IPO Mandates After Nearly Ten Years Away
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Barclays is preparing to re-enter India’s ECM business after nearly a decade away. It aims to compete for IPO underwriting mandates amid a strong fundraising pipeline. Read more.
Barclays PLC plans to rebuild its equity capital markets (ECM) business in India from the ground up as it seeks to capture opportunities in one of the world’s busiest markets for share sales.
The move would mark its return to India’s ECM business after almost ten years, allowing it to compete for initial public offering (IPO) underwriting mandates.
Barclays India’s Chief Executive Officer (CEO), Pramod Kumar, described the opportunity as a long-term structural one, pointing to its existing strengths in investment banking, financing, mergers and acquisitions (M&A), and corporate banking.
He also said the expansion would take time, even as India’s fundraising environment remained strong despite current capital-market weakness.
Barclays Adds Bankers And Invests In Tech
Barclays has added bankers over the past year and invested in technology as part of its broader India expansion. The bank has injected more than £500 million, equivalent to USD 664 million, in capital over the past five years.
Investment banking remains the largest part of its India business, alongside its corporate and private banking operations.
Barclays Continues Investing In GIFT City
Barclays has operated in India’s Gujarat International Finance Tec-City (GIFT City) for around five years and plans to continue investing there, citing the hub’s fiscal and tax advantages. The bank is also among the most active players in the rupee market, including arranging rupee bond issuances for clients.
The expansion comes as India’s IPO pipeline continues to attract international banks. Emirates National Bank of Dubai Public Joint Stock Company (NBD PJSC) and DBS Group Holdings Limited have shown interest in increasing their presence in the Indian market.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Neha Dubey has spent 6+ years turning market chaos into something readable. At Kotak Neo, she works on IPOs and writes for the Market Ready newsletter — making sense of the markets so you don't have to.
Off the clock, she's chasing good stories, new cuisines, and the occasional impromptu singalong. A believer in small pleasures, with excellent taste for a well-timed splurge.
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