Investment bankers get choosy as fundraise season reaches fever pitch

This is to avoid conflict of interest of competing firms

With the initial public offering (IPO) season in full swing, investment bankers are getting choosy on selecting deals. One reason for this is “conflict of interest” clauses, according to which an investment banker is barred from taking up mandates from competing companies to avoid sharing sensitive information and strategies.

This is seen playing out in the IPOs of digital payments company Paytm and MobiKwik. Both firms have opted for separate sets of bankers. While ICICI Securities is the common banker for both issues, the ICICI Bank arm has been tasked only with coordination for Paytm’s IPO as it is the main