Domestic banks top charts for mandates to manage equity issues

Domestic investment banks led the charts for managing the most issuances in the capital markets, with JM Financial ruling the roost having handled issues worth over Rs 42,000 crore during 2015, says a report.
According to latest data compiled by Prime Database, JM Financial earned mandate to manage equity issuances (IPOs, FPOs, OFS, QIPs, IPPs) worth Rs 42,333 crore, nearly 62 per cent of the total issue amount raised in the markets in 2015.
JM Financial is followed by Kotak Mahindra at the second place for handling Rs 40,485 crore (59.2 per cent) of the issue amount, the report said.

These domestic banks were followed by foreign banks - Deutsche Bank (Rs 32,328 crore), Bank of America-Merill Lynch (Rs 29,575 crore) and Credit Suisse (Rs 29,436 crore) - in terms of the capital raised from issuances they have brought to the market during the last year.
Besides, the top 10 list of investment banks included SBI Cap (6th rank), Goldman Sachs (7th), Citigroup (8th), Axis Capital (9th) and Nomura Financial (10th), it said.
As per the report, Indian firms mopped up over Rs 68,608 crore through the equity market route in 2015, with Offer For Sale (OFS) emerging as the most preferred way to mobilise capital for their business needs.

This is 76 per cent higher than the sum of Rs 39,067 crore raised through the equity market in 2014.
The rankings take into account the fact that if an issue has been handled by more than one lead manager, full credit for such an issue has been given to all the concerned lead managers.