Despite crossing a three-year high of over US$90 billion in deals during the first nine months of the year, investment bankerAccording to a report, advisory fees fell to USD 761.5 million during this period, the lowest in three years. SBI Caps topped the league table with 8.6 per cent wallet share or USD 65.7 million in underwriting fees during the first nine months, followed by Morgan Stanley (with USD 48.1 million with 6.3 per cent) and JP Morgan (with USD 47.5 million). with 6.2 percent pie). According to a report by financial market data provider Refinitiv, the year 2021, the London Stock Exchange is an entity owned by the group.

As per the report, Axis Bank got USD 46.7 million or 6.1 per cent stake, Goldman Sachs came fourth with USD 46.7 million or 6.1 per cent of the market pie, and

(USD 40.4 million, 5.3 percent) comes in fifth place.

Wall Street brokerage BofA Securities is sixth for 4.4 per cent deal share with USD 33.5 million, followed by Kotak. Mahindra According to the report Bank (USD 32.8 million, up 4.3 per cent), Citi (USD 29.1 million, 3.8 per cent), and Avendus Capital for 3.1 per cent deal share is taking home USD 23.3 million and takes 10th place.

Within the ECM league table, ICICI Bank leads with USD 2.5 billion in related earnings and 11.3 per cent market share, followed by JP Morgan and Axis Bank with 9.5 per cent and 8.8 per cent pie, respectively.

While deals totaled USD 90.4 billion in the first nine months of 2021, the highest in three years, deal fees fell 5.4 per cent to USD 719.3 million, while closing 35.1 per cent more deals in the same period a year ago. became the lowest. According to the report, the first-nine-month period since 2018 when it stood at USD 719.3 million.

Of the USD 761.5 million generated in investment banking fees during the first nine months of the year, underwriting fees from equity capital markets led to fee collections with USD 241.4 million (seeing the IPO influx of USD 9.2 billion). collected more. so far this year), the report said.

It said it is still down 7.5 per cent compared to the same period in 2020, followed by debt capital market underwriting fees totaling USD 127.4 million, down 23.8 per cent in the nine-month period, the lowest since 2018. Was.

Full deal advisory fees increased 17 percent to USD 241.8 million, while syndicated lending fees declined 11.6 percent to USD 151 million.

I-Banking charges are lower as merchant bankers are charging their customers less as the transaction process is mostly online.

Another reason for the lower fees is the higher average deal price size of USD 105 million, which was up 14.4 percent annually, with 17 deals on top of USD 1 billion and a total of USD 38.8 billion, while 12 above USD 1. The year-on-year compared to deals totaled USD 30.1 billion.

Also, the biggest deal of the year was not through Merger and Acquisition (M&A) but through the NCLT route, in which Piramal Capital Paid USD 4.7 billion (Rs 34,250 crore) for Dewan Housing Finance.

Equity capital markets grew by only USD 22.1 billion during the period, down 32.7 per cent, despite a 65.6 per cent increase in the number of offers as deals were made at a lower value.

Similarly, the number of IPOs also grew 160.7 per cent year-on-year to over US$ 92 billion and over 50 per cent IPOs were in the third quarter, with 34 of USD 5.1 billion led by Zomato’s issue of USD 1.3 billion. Issues observed. July has been the biggest issue so far this year.