India's relative position at its strongest in many years: Raj Balakrishnan

The deal pipeline across products is robust for 2024. Banks are actively working on several IPOs, with plans to file them in the next three months, says Balakrishnan

India witnessed robust activity in the equity capital market (ECM) in 2023, and this momentum is expected to continue into the next year. This optimistic outlook is supported by superior domestic macroeconomics and the performance of companies, as highlighted by RAJ BALAKRISHNAN, co-head of India investment banking at Bank of America India (BofA India). In an interview with Samie Modak in Mumbai, Balakrishnan mentions several initial public offerings (IPOs) currently in progress, scheduled to hit the markets by the middle of next year. Edited excerpts:

How was 2023 for BofA India, and were large banks like yours at a disadvantage