Citigroup Bolsters India Investment Banking Team on Deal Boom
- U.S. lender has expanded its India deals team to 40 people
- Money raised via IPOs in India on track for a record year
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Citigroup Inc. has added eight new positions to its investment banking team in India this year amid an unprecedented surge in deals.
The hires come as the lender, the top-ranked foreign bank in the initial public offering league tables for Asia, works with other advisers on the public sale of Life Insurance Corp. -- in what’s set to be India’s biggest ever listing. Companies have raised about $10.2 billion through IPOs in India this year, putting 2021 on track to beat its all-time record of $11.8 billion.