Indian investment banks topple foreign peers in IPO showdown

Share rises further to 73 per cent from 66 per cent last year; Some overseas i-banks seen scaling down operations

Domestic investment banks (i-banks) have edged out their foreign peers in capturing a significant chunk of the booming initial public offering (IPO) market in the past two years.

In terms of deal size, domestic i-banks had cornered a 66 per cent market share in calendar year 2016. This year, their share in the IPO pie has risen to 73 per cent, data collated from Prime Database shows.

The dominance of domestic i-banks comes amid a string of large-sized offerings hitting the market. From January 2016 to now, 19 offerings of over Rs 1,000 crore have hit the market, of which