Following Reliance PowerÆs IPO last week, issuance in the equity capital markets slumped back to $337 million from eight deals this week, bringing the year-to-date volume to $5.5 billion from 55 issues. Citi continues to sit at the top of the league table rankings with $768 million, followed by JPMorgan with $669 million and Kotak Mahindra Finance with $509 million.
ReneSolaÆs $130 million fully marketed deal was the largest issue of the week and led by Credit Suisse and Deutsche Bank. The German house moved up to sixth place from the eighth spot last week.
More Indian IPOs are scheduled to price next week including Emaar MGF LandÆs $1.7 billion listing via bookrunners Citi, Enam Financial Consultants, Goldman Sachs, HSBC, ICICI Bank, JPMorgan, Kotak Mahindra and DSP Merrill Lynch; IRB Infrastructure DevelopersÆ $263 million deal led by Deutsche Bank; and a $225 million listing for Wockhardt Hospitals via Citi and Kotak Mahindra.
Debt Capital Markets
The debt capital markets raised $500 million this week from the Republic of PhilippinesÆ trade led by Credit Suisse and Deutsche Bank. HSBC currently tops the rankings with $965 million, followed by Lehman Brothers and Barclays Capital on $665 million apiece.
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