Axis Capital, the investment banking arm of Axis Bank, continued to excel and show leadership in India’s markets in the past year, winning Asiamoney’s award for best securities house in the country for 2022.
First, the numbers. For the year ending March 31, 2022, Axis Capital’s profits after tax jumped 20%, year on year, to Rp2 billion ($25.8 million). At Axis Securities, another subsidiary of Axis Bank, broking revenue soared 56% in the same period to Rp6.62 billion, while overall net profits increased 40% to Rp2.3 billion.
On the primary equity capital market side, Axis Capital worked on some of the largest IPOs, including Paytm’s Rp183 billion listing in October 2021, and PowerGrid Infrastructure Investment Trust’s Rp77.35 billion listing in April 2021, as well as smaller transactions such as Clean Science & Technology’s Rp15.5 billion trade and Vedant Fashions’ Rp31.5 billion IPO in January.
During the awards period, from April 1, 2021, to March 31, 2022, Axis had league table credits of $2.78