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IPOs, QIPs, block deals: I-bankers play the ECM table and cash in big

Jefferies tops overall $1 billion fee pool, turning blockbuster deals into jackpot wins

rights issue, Securities and Exchange Board of India, Sebi, investment bankers, stock markets
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While the overall ECM fee pool has fallen 4 per cent from last year, a strong pipeline for the remainder of 2025 could deliver another round of hefty bonuses for dealmakers.

Samie Modak Mumbai

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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.