Investment bankers see 58% decline in earnings, shows data

Most companies had to hit pause on their fund-raising plans amid a sharp fall in the stocks, more so for those in the broader market.

After witnessing a dream December quarter, investment bankers had a hard wake-up call as the equity capital market (ECM) fee pool shrank dramatically in the March quarter on the back of uncertainties created by the US Federal Reserve monetary-policy tightening and Russia-Ukraine crisis.
 

ECM fees is the amount pocketed by investment bankers for handling initial public offerings (IPOs), rights issues, and other forms of share sales.
 

According to Refinitiv, a global data provider, the ECM fee pool for India for the current quarter (until March 18) stands at $29.3 million, 58 per cent lower than in the corresponding quarter in