Barclays India Equity Advisory Return After a Decade
The move: Barclays plans an India return
Barclays Plc is preparing to restart its equity capital market business in India after nearly a decade. The planned return targets India’s equity fundraising and initial public offering market, with the bank seeking underwriting mandates and equity advisory work.
About 170 companies have received approval from the Securities and Exchange Board of India, while another 115 are awaiting a decision.
What Barclays does
Barclays is a UK bank with a wholesale banking business. Its equity capital market activity would help clients meet their capital needs across debt and equity through equity advisory and underwriting services.
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“That’s one important product missing in our otherwise very strong wholesale banking offering,” Pramod Kumar, chief executive officer of Barclays India, said at the Bloomberg New Economy Forum in New Delhi.
Barclays and India's equity market
The boom has drawn greater interest from global investment banks including Emirates NBD PJSC and DBS Group Holdings Ltd. in expanding their presence in India. Competition is also intensifying as domestic firms use their relationships with local companies and investors to win a growing share of mandates.
“We believe India will offer a long-term opportunity for banks like us to help our clients in meeting their capital needs across debt as well as equity,” Kumar said.
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