Global liquidity has lent support to deal-making, says Raj Balakrishnan

There is a 'gush of liquidity' around the world, including India after the US Federal Reserve opened the tap, says Raj Balakrishnan.

Disruption in economic activity caused by the pandemic failed to deter equity capital markets (ECMs) in H1CY20, which has been in a blockbuster phase. Raj Balakrishnan, country head (investment banking), Bank of America, expects the momentum to continue on the back of a strong pipeline. In an interview to Samie Modak, he explains various reasons behind the robust activity in ECMs. Edited excerpts:

How has the year been for Bank of America?

The year started with a number of follow-on offers and two perpetual bond transactions. While overall IPO volumes were down, we did execute the SBI Cards IPO, which