Investment bankers (ibankers) are set for another strong year, with equity capital market (ECM) deal fees reaching $438 million in the first nine months of 2025, according to London Stock Exchange Group (LSEG) data.
India’s overall investment banking fee pool hit $1 billion during the first nine months of 2025, up 12 per cent from the same period last year. This includes fees from ECM and debt capital markets, as well as mergers and acquisitions.
LSEG calculations show Jefferies leading the overall investment banking fee rankings in India, taking nearly $86 million, or 8.7 per cent of the total pool.

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