ICICI Securities prides itself on working with all kinds of clients – small cap, mid cap and large cap groups, be it corporates or financial institutions. But where it truly excels is its offerings to India’s large cap firms.
The investment bank claims it is part of every second IPO launched in India, a market that has been hot in the past 18 months amid a surge in optimism around the country’s stock market and prospects.
ICICI’s IPOs included an Rs18 billion ($214.5 million) deal for Juniper Hotels, a left lead role for a Rs16 billion deal for Entero Healthcare Solutions, and similarly chunky listings for market leaders Inox India (Rs14.6 billion), Cello World (Rs19 billion), JSW Infrastructure (Rs28 billion) and KFintech (Rs15 billion).
On placements, too, it was the bank of choice for large cap names.
Indian Bank, for instance, raised Rs40 billion from a placement supported by ICICI, with the securities house also holding the left lead role on a Rs30.5 billion fundraising for Intelligent Supply Chain Infrastructure Trust, whose sponsor is a Reliance Industries subsidiary, Reliance Retail Ventures.
Additionally,