Citi tops India and Asia-Pac underwriting league tables for first quarter 2024
FinTech BizNews Service
Mumbai, April 15, 2024: Citi has today announced that Arvind Vashistha will continue in his role as Head of India Equity Capital Markets at Citi, reporting to Udhay Furtado and Ken Chow in Hong Kong.
India remains one of our key global markets. Citi has consistently been #1 in India ECM and YTD Citi has raised more than US $4 billion and retained our market leading position.
Arvind’s ongoing leadership will continue to be crucial to driving our franchise forward.
Citi topped the underwriting league table for Indian clients with a market share of 14%. Citi also emerged as the top underwriter for equity capital markets (ECM) in Asia ex-Japan for the first quarter (Q1) of 2024, continuing the strong momentum built in 2023. At the end of Q1, Citi commanded a total issuance volume that was double that of the next closest competitor.
Citi has led majority of the largest transactions year-to-date across India and Asia markets, successfully executing and pricing a combination of domestic and cross-border block trades, real estate investment trusts (REITs), Global Depository Receipt (GDRs), American Depositary Receipts (ADRs) and convertible bonds.
Notable transactions over this period include the US$ 2.1bn block trade by British American Tobacco (BAT) in ITC Limited and the US$1.1bn block trade by Tata Sons in Tata Consultancy Services (TCS).
