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ICICI SECURITIES tops IPO Ratings

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ICICI Securities has topped the Initial Public Offering (IPO) league table in the first half of 2016. ICICI Securities is ICICI Bank’s investment banking arm.According to data provided by Bloomberg, ICICI Securities has managed five IPOs to help rise around Rs 1,216 crore for companies getting listed. In 2015, ICICI Securities had ended sixth in the IPO league table. Kotak Investment Banking, which was in pole position last year, is currently second, with four deals worth Rs 1,036 crore.

Rating

  • The overall equity league table for the first half of 2016 is topped by US-based Citibank, which has handled a total of six deals worth nearly Rs 7,000 crore.
  • The overall equity league table ranks investment banks on not just IPOs, but also on other forms of fund-raising managed by them, such as rights offerings, offer for sale, and block transactions.
  • In the overall equity league table, ICICI Securities is second, with nine deals worth Rs 4,053 crore. Last year, Citi was third, while ICICI Securities wasn’t even among the top 10.
  • ICICI Securities has topped the IPO league table by managing IPOs, including those of Ujjivan Financial Services, Equitas Holdings, Thyrocare Technologies, TeamLease, and Quick Heal.
  • The investment bank is also part of the L&T Infotech IPO, which will hit the market next week.
  • Meanwhile, second-ranked Kotak Investment Bank has handled IPOs such as those of Mahanagar Gas, Parag Milk, Ujjivan Financial Services, and Healthcare Global Enterprises.
  • Investment bankers expect the IPO momentum to continue in the second half, with several companies waiting to launch their IPOs. Some of the companies that may hit the market in the near term include Advanced Enzyme, RBL Bank, New Delhi Centre for Sight, SP Apparel, and GNA Axles. These companies cumulatively could raise around Rs 3,500 crore.