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For global banks, India could soon be worth it
  + stars: | 2023-11-07 | by ( Pranav Kiran | ) www.reuters.com   time to read: +5 min
The hot new business class ticket within Asia is in fact, Hong Kong to Mumbai. Before the pandemic, more than half of the Asian top line of U.S. bulge bracket banks typically came from Greater China which includes the mainland, Hong Kong, Macau and Taiwan. Overall, IPO fees in India have risen from 1% of proceeds in 2017 closer to 2% in recent years, LSEG data shows. Hong Kong bankers are not going to relocate to India any time soon but while they wait out a slow and uncertain recovery in China activity, the trip to India looks increasingly worthwhile. Proceeds from initial public offerings in India amounted to $3.8 billion across 172 deals as of Oct. 24, according to LSEG data.
Persons: Goldman Sachs, Morgan Stanley, Banks, Mukesh Ambani, Bhavish, Ola, What’s, Gaurav Trehan, Blackstone, Amit Dixit, David Solomon, James Gorman, Citigroup's Jane Fraser, Noel Quinn, Bill Winters, Una Galani, Thomas Shum Organizations: Reuters, UBS, Insurance, JPMorgan, Citigroup, Reliance Industries, KKR, Bank of America, Global Financial, Investment, Hong Kong Monetary Authority, Offshore, Thomson Locations: BENGALURU, Hong Kong, China, Asia, Mumbai, Greater China, Macau, Taiwan, Beijing, Washington, India, United States, Offshore China
MUMBAI/SINGAPORE, June 1 (Reuters) - KKR & Co (KKR.N) is moving a managing director from India to Singapore to lead the firm's Southeast Asia private equity business, two familiar with the matter sources told Reuters, bolstering its personnel in the region. Kumar will work with Ashish Shastry, a partner who heads Southeast Asia and co-heads the firm's Asia Pacific Private Equity business. The move also comes as KKR strengthens its presence in India and Southeast Asia. It raised $15 billion for its fourth Asia-Pacific focused private equity fund in 2021, one of the region's largest for the asset class. KKR has been investing in Southeast Asia since 2005, and opened its Singapore office in 2012.
Persons: Prashant Kumar, Kumar, Ashish Shastry, Vini, Gaurav Trehan, Trehan's, Akshay Tanna, Sriram, Kane Wu, Mark Potter Organizations: KKR, Co, Asia Pacific Private Equity, The Wharton School, Indian Institute of Technology, JB Chemicals, TPG Inc, TPG, Associations, Reuters, Healthcare, Thomson Locations: MUMBAI, SINGAPORE, India, Singapore, Asia, Mumbai, Southeast Asia, Pacific, Philippines
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