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Citi has emerged as the top investment bank for share-sales conducted through the offer for sale (OFS) route since January 2012 till date. The US-based bank has handled seven share-sales to raise about Rs 6,800 crore. Citi has managed several big-ticket OFS transactions, including ONGC, NTPC, NMDC and Oil India. Bank of America Merrill Lynch (BofA-ML), which has raised a total of Rs 4,254 through five share-sales, is at the second place. BofA-ML has benefited from transactions such as Adani Enterprises and Adani Power, where it was the sole investment bank.
Launched last year, primarily to help companies achieve 25 per cent public shareholding, the OFS route has emerged as the preferred route among India Inc to pare promoter holdings. Since 2012, about 27 share-sales have taken place through this route to raise nearly Rs 40,000 crore. (Click on graphics)
