Some of Wall Street’s biggest banks have opted out of advising on a planned $1.4 billion initial public offering of India’s SBI Funds Management Ltd. because of low fees, according to people familiar with the matter.Citigroup Inc., which was part of the initial list of mandated advisers, pulled out over fees, the people said, asking not to be identified while discussing private matters. SBI Funds later replaced Citi with Jefferies Financial Group. JPMorgan Chase & Co. also decided not to pursue the transact ...

In 2025, India's primary equity market scaled new heights as companies raised a record ₹1.95 trillion through more than 365 initial public offerings (IPOs), according to a latest strategy report by Motilal Oswal Financial Services. In the last two years, ₹3.8 trillion were raised across 701 IPOs in the primary market. In 2024, ₹1.90 trillion was mobilised through 336 IPOs. The resurgence of NBFCs and the strategic re-entry of banks into the primary fundraising arena also took the centrestage in this time pe ...

In the last two years, Rs 3.8 trillion were raised across 701 IPOs in the primary market. In 2024, Rs 1.90 trillion was mobilised through 336 IPOs. The resurgence of NBFCs and the strategic re-entry of banks into the primary fundraising arena also took the centrestage in this time period.Credit intermediaries, especially NBFCs, emerged as key beneficiaries of investor appetite, while banks recalibrated their capital-raising playbooks through selective IPOs, QIPs, and OFS.NBFCs were the dominant players in ...