 "Ranvir Davda, MD and Co-Head of Investment Banking, HSBC Securities and Capital Markets (India) Private Limited (Photo: Kamlesh Pednekar)")
Domestic equity capital markets (ECM) have rebounded strongly after an early slowdown in 2025, with initial public offerings (IPOs) and block deals gaining momentum. In an interview with Samie Modak, Ranvir Davda, co-head of investment banking at HSBC India, discusses the robust IPO pipeline, emerging market trends, and factors driving equity market activity this year. Edited excerpts:
What factors led to the slowdown in ECM activity at the start of the year?
The period between January and March witnessed significant foreign outflows of about $13 billion across large and midcap stocks, which led to a sharp correction in the markets.
