Indian NBFCs down but not out as Bajaj sells QIP

Bajaj Finance, an Indian non-banking financial company, raised Rp84.6bn ($1.2bn) this week from an equity placement that defied the challenges facing the sector. But bankers warn that the deal’s success does not indicate a change in sentiment towards the woe-ridden industry just yet, writes Rashmi Kumar.

  • By Rashmi Kumar
  • 07 Nov 2019

Non-banking financial companies (NBFCs) in India have been going through a rough patch of late. The sector has been roiled by volatility over the past year owing to some high-profile defaults, triggered by the downfall of IL&FS Financial Services at the end of last year.

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 Ping An Bank 42.86
2 Bank of China (BOC) 28.57
3 Industrial and Commercial Bank of China (ICBC) 14.29
3 China Merchants Bank Co 14.29

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 China International Capital Corp Ltd 4.49 23 12.23%
2 China Securities Co Ltd 3.57 8 9.73%
3 CITIC Securities 3.46 12 9.43%
4 Morgan Stanley 3.39 11 9.23%
5 Goldman Sachs 1.70 13 4.65%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Citi 7.40 42 7.56%
2 HSBC 6.26 54 6.39%
3 UBS 4.99 32 5.10%
4 JPMorgan 4.59 31 4.69%
5 Standard Chartered Bank 4.47 37 4.57%

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