Citi India Forecasts Robust Equity Capital Market Deals in 2023

Citi India Forecasts Robust Equity Capital Market Deals in 2023
Citi India Forecasts Robust Equity Capital Market Deals in 2023
Citi India Forecasts Robust Equity Capital Market Deals in 2023
Citi India Forecasts Robust Equity Capital Market Deals in 2023

Citi India Forecasts Robust Equity Capital Market Deals in 2023

Citi India Forecasts Robust Equity Capital Market Deals in 2023

Citi India Forecasts Robust Equity Capital Market Deals in 2023

Citi India’s chief executive, Ashu Khullar, revealed in an interview with Reuters that the bank anticipates a surge in equity capital market deals in India, with expectations ranging from $20 billion to $22.5 billion in 2023. This optimistic outlook is driven by the nation’s strong local markets and a stable economic environment. Khullar also highlighted the remarkable growth of the equity capital markets in India, with $19.4 billion raised in the previous year, according to data from LSEG.

Flourishing IPOs and Institutional Share Sales

Khullar observed a resurgence in initial public offerings (IPOs) and an uptick in block deal activities due to favorable market conditions. Furthermore, institutional share sales are gaining momentum. Foreign portfolio investors have injected a net total of $11 billion into Indian equities in the current year, significantly boosting India’s benchmark equity indexes to record highs. Conversations surrounding mergers are becoming more prevalent, with $85 billion worth of deals already materialized this year. Citi India proudly commands a 22.6% market share in this thriving landscape.

Citi’s Strategic Opportunities in India’s Emerging Markets

Citi India recognizes the immense potential in India’s emerging markets, especially with the recent inclusion of India in JPMorgan’s emerging markets bond index. This inclusion is expected to attract a substantial influx of debt inflows, estimated at $25-30 billion by the end of the financial year in March 2025. Citi is well-positioned to offer a comprehensive suite of services, including market platforms, trading, sales, and custody services, to cater to the needs of new investors entering India’s vibrant market.

In conclusion, India’s economic growth forecast for the fiscal year ending March 31, 2024, stands at an impressive 6.5%, solidifying its status as the fastest-growing major economy. Citi India is actively engaging with potential investors across Asia and Europe, witnessing a growing interest in formulating India-focused strategies. The bank’s recent reorganization, which includes layoffs and reassignments on a global scale, is expected to have minimal impact on its thriving Indian operations. As Citi India continues to concentrate on institutional businesses, it remains committed to harnessing the growth potential of this dynamic and promising market.

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