Morgan Stanley’s earlier head of real estate ( India) S Sundareswaran has quit the firm to join real estate advisory firm Alta Capital and partner with ex-Blackstone executive Siddhartha Gupta
Shah, a chartered accountant and alumnus of Indian School Business, has been with Kotak Investment Banking for more than 16 years. Prior to that, he had a stint of a little more than 3 years at ICICI Securities in the M&A and equity capital markets teams
The comments come a day after capital markets regulator Sebi expressed concerns over the sluggish IPO activity, despite it already clearing over Rs 60,000 crore worth of issues.
In terms of merger and acquisition (M&A) activity, telecom dominated FY17, and this theme is likely to continue in FY18 too, said V Jayasankar of Kotak Investment Banking.
Watch S Ramesh, MD & CEO at Kotak Investment Banking and Sourav Mallik, Joint MD at Kotak Investment Banking speaking with Nisha Poddar of CNBC-TV18 about deal street's outlook for 2017.
Speaking to CNBC-TV18, Ramesh said that a few top companies from the renewables space are likely to get listed and will receive a good response from the market.
Share sales in Asia ex-Japan are set to rebound in 2017 from three-year lows this year, driven by listings of financial firms in Greater China, including the world's biggest fintech IPO, and a further revival of offerings in India, bankers and investors said.
At a time when many sectors are in distress due to the demonetisation drive it is important to assess the deal environment. V Jayshankar of Kotak Investment Banking says, primary market pipeline has been strong and there will be pick-up from February onwards. Also, M&A pipeline continues to be strong.
In an interview with CNBC-TV18, Nilesh Shah along with S Ramesh of Kotak Investment Banking shared their views on factors that are supporting market momentum and what is to be expected going forward.
A surge in first-half India IPO activity is likely to pale in comparison to the second half which could see over USD 6 billion in deals, banking sources said, with investors encouraged by a pick-up in economic growth and unfazed by Britain's vote to leave the European Union.
Telecom major Vodafone India is close to launching an IPO with its British parent picking six investment banks, including Kotak, ICICI and UBS, for the over USD 2 billion share sale process, sources said.
In an interview to CNBC-TV18, Murtuza Arsiwalla of Kotak Investment Banking shares his opinion on the cement sector and NTPC.
The current market volatility and headwinds in secondary market may delay the pace of IPO launches, S Ramesh, MD and CEO of Kotak Investment Banking.
There will be a very good mix of small and mid-sized IPO, coupled with a few large ones in 2016, says V Jayasankar of Kotak Investment Banking.
The stake sale, valued at about USD 3.2 billion at the current stock price, is part of New Delhi's aim to raise 695 billion rupees (USD 11 billion) by March from selling minority stakes in government-owned companies.
The stake sale, valued at about USD 3.2 billion at the current stock price, is part of New Delhi's aim to raise 695 billion rupees (USD 10.52 billion) by March by selling minority stakes in government-owned companies.
Activity in the IPO market tends to lag the performance of the broader stock market, which took off in mid-2014 amid optimism that Prime Minister Narendra Modi would able to unlock India's economic potential.
IndiGo, owned by hospitality and travel company InterGlobe Enterprises, is aiming to get approval from India's market regulator in August, before hitting the market later in the year, one of the sources said.
Over the next few quarters, Jayasankar is expecting IPOs in the range of Rs 300-1000 crore.
India's smaller infrastructure firms are turning to share sales to fund new projects, cashing in on a boom in the country's stock market just as banks have scaled back on credit due to rising bad loans and slowing earnings growth.
De-listing Regulations Amended!
Kotak Investment Banking and ICICI Securities are advising the bank on the listing, the sources said.
There is cause for optimism as we look at fiscal 2016. Experts say number of issuances are slated to hit the market in FY16
Going ahead, V Jayasankar of Kotak Investment Banking sees strong pipeline of fresh paper coming in – Rs 80,000-1,00,000 crore – and a bulk of it will come from the PSU side, that is government divestment in PSU banks and PSU banks raising capital, while the balance will come from the private sector.
Talking about the stake sale in Axis Bank, which is likely to go through this financial year, TV Raghunath said that Axis Bank is very attractive investment opportunity.