Because of this, ICICI Bank and its investment banking firm ICICI Securities need to hire more investment bankers.
Adequate liquidity available in the market, tremendous FIIs implos, strong corporate earnings and huge increase in spending by the central government reached a record high, but the second wave of the corona virus is witnessing upsurge in the market. This year, more and more companies are going to IPOs to take advantage of the bullish market sentiment.
The IPO Boom has caused ICICI Bank and its investment banking firm ICICI Securities to hire more investment bankers. ICICI Bank is looking to hire at least 5 to 6 investment bankers at mid and senior levels in both its units, which is the largest hiring of investment bankers in the last 4 years in view of the ongoing IPO boom of the market.
Let us tell you that ICICI Bank currently has 130 investment bankers. Ajay Saraf, investment banking head of ICICI Securities, says it is the largest hiring since 2017. Let me tell you that ICICI Securities topped the list this year as investment banker and book running lead manager among the companies that launched IPO, while it was at number 10 last year. Because of this, the firm has needed more manpower.
This year, companies have raised more than $ 3 billion in funds through IPOs. Whereas, 2 dozen IPOs are in the pipeline for launch in FY22. Between January 2021 and March 2021, IPOs of 17 companies were launched and these companies raised Rs 18,800 crore from the primary market. At the same time, a total of 30 companies brought their IPO in FY21 and these companies raised Rs 31,277 crore from the primary market through IPO.
