India’s second-largest private lender is reportedly launching a hiring spree for investment bankers in what is expected to be a record year for fundraising in the country.
India’s ICICI Bank is planning to hire 30 staff for its investment banking division, according to a «Bloomberg» report citing Ajay Saraf, head of investment banking and institutional equities.
This includes 15 new hires for mergers and acquisitions, private equity and fundraising as well as another 15 hires for sales, trading and research. The positions being sought after range from associate to executive vice president with the most senior hires being from rival lenders. Following the new hires, ICICI Securities’ headcount will rise to 190.
Record Year
According to Saraf, 2024 and 2025 will be a record year for fundraising in India with expectations of more than $18 billion to be raised via initial public offerings. At least four listings are forecasted to exceed $1 billion.
«Over the next three, four years we’ll see very robust deal activity, both on the private and public side. India is becoming a very favorable investment destination — the market where everybody wants to be,» Saraf said.
In 2023, India saw around $27 billion raised through IPOs and follow-on share sales.
