Barclays Bolsters India Investment Banking amidst IPO Boom

Submission Statement: Barclays Plc is preparing to re-enter India’s equity capital markets business, the bank’s local chief said, as the London-based bank adds bankers and capital to compete in one of the world’s busiest markets for share sales.

The move would mark Barclays’ return to India’s ECM business after nearly a decade, allowing it to compete for underwriting mandates as the IPO pipeline stays strong after two straight years of unprecedented deals. The boom has also drawn interest from banks including Emirates NBD PJSC and DBS Group Holdings Ltd. in expanding their presence in India.

Barclays is investing across its investment bank, the largest part of its India business, as well as its corporate and private banks, according to Kumar. The lender has injected more than £500 million ($664 million) of capital over the past five years, added bankers over the past year and is investing in technology, he said.

Barclays has operated in India’s GIFT City for about five years and plans to keep investing there given the hub’s fiscal and tax advantages, he said.

“Given the opportunity that India offers, we continue to invest in talent,” he said.