India sees record ECM activity in Q1

Issuance hit $14.8bn, according to data from Dealogic, with Citi leading the underwriting league table.
April 15, 2024

According to data from Dealogic, Indian equity capital markets ECM issuance hit $14.8 billion in the first quarter of 2024, the most on record, via 144 transactions. The momentum came after a strong 2023 performance for India's equity markets when 243 companies listed on the country's stock exchanges. 

Citi topped the underwriting league table for Indian clients with a market share of 14%. In addition to initial public offerings IPOs, the bank also worked on a steady flow of block trades, a Citi spokesperson told FinanceAsia. 

The US bank saw deals valued at $2.1 billion in India. Citi said it...

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