Investment bankers net decade-high $292 million from ECM activity

M&A advisory fee down 5.1 per cent to a three-year low of $303 million

For investment bankers operating in the equity capital market (ECM) segment, 2020 turned out to be among the best years in a decade. According to Refiniv, ECM underwriting fee in India generated $291.7 million, 70 per cent more than that in 2019 and the highest in over a decade. ECM activities comprise several kinds of equity capital raising, including initial public offerings (IPOs), rights, QIPs, and block deals.

Mergers and acquisitions (M&A) advisory fee, on the other hand, fell 5.1 per cent from the previous year and was at $303.2 million, the lowest since 2017. Debt capital markets (DCM) underwriting