Citigroup bolsters India investment banking team on unprecedented deal boom

Companies have raised about $10.2 bn through IPOs in India this year, putting 2021 on track to beat its all-time record of $11.8 bn

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.

Ravi Kapoor, head of banking, capital markets and advisory for the U.S. bank