ICICI Securities was among the top 10 managers of equity and rights offerings in India during the first quarter of 2024. This highlights the firm’s strong presence and performance in the Indian market.
ICICI Bank Ltd. has appointed Gaurav Singhvi and Sarun Agarwal as co-heads of the equity capital markets division of its investment banking unit, effective May 1. They are taking over the roles previously held by Pratik Loonker, who left to join a rival firm, Axis Capital Ltd. Singhvi has over six years of experience at ICICI Securities Ltd., as well as previous roles at IIFL Capital Ltd. and JPMorgan Chase & Co. Agarwal has been with ICICI Securities for more than two years.
The Indian investment banking industry is experiencing a surge in initial public offerings (IPOs) due to which there have been many movements among bankers. In response to this trend, ICICI Bank plans to make 15 new hires in its investment banking division to strengthen its mergers and acquisitions, private equity, and fundraising practices. Additionally, they plan to hire another 15 professionals in sales, trading, and research. However, the bank recently denied reports that its Managing Director and Chief Executive Officer Sandeep Bakhshi intends to step down.
JPMorgan’s India head of equity capital markets, Abhinav Bharti, returned to the bank after considering a move to another lender after his intended replacement decided not take up his position at Citigroup Inc., India’s IPO market has continued to be strong compared to many other regions with the country’s stock market value surpassing Hong Kong’s to become the world’s fourth largest in January .
