K Balasubramanian, CEO of Citi India Subcontinent and Banking Head, expects a strong IPO pipeline in the remaining months of 2025, with potential capital raising of $10\u201315 billion by mid-December.<\/p>\n
In an interview with Moneycontrol<\/em>, Balasubramanian said, \u201cBetween now and December 15, we may see another $10\u201315 billion of capital being raised from the market, assuming the market continues to be constructive.\u201d<\/em><\/p>\n He noted that the pipeline of companies waiting to go public is \u201cquite robust\u201d and added that some of these listings could spill over into early 2026.<\/p>\n Reflecting on the year\u2019s performance, Balasubramanian said 2025 had exceeded expectations, following a strong 2024 IPO season. \u201cIt\u2019s a great match of demand and supply,\u201d he remarked, pointing out that investor appetite has remained high.<\/p>\n He added that Citi led two major listings \u2014 Tata Capital and LG Electronics \u2014 earlier in October 2025. These successful listings have strengthened Citi\u2019s position in the Indian capital markets, he said.<\/p>\n Also Read<\/strong>: MCX Delays Market Opening to 10:30 AM After Technical Issue<\/a><\/em><\/p>\n Balasubramanian highlighted a renewed inflow of foreign institutional investors (FIIs) since early October. \u201cWe are seeing some bit of activity with financial and foreign institutional investors coming back to the market,\u201d he said.<\/p>\n He noted that the Nifty index recently touched 25,700 points \u2014 a level not seen in the past year \u2014 reflecting improved investor sentiment and market stability.<\/p>\n Addressing concerns about high IPO valuations, Balasubramanian said there is fundamental justification for current multiples, given India\u2019s long-term growth story.<\/p>\n \u201cConsumption is going to be a continuing theme to play out in India. Our penetration levels are much lower than other parts of Asia, so even with a small multiplier, this growth is here to stay,\u201d he explained.<\/p>\n Beyond IPOs, Citi has been actively involved in several large financial sector deals in 2025. These include the Yes Bank\u2013Sumitomo Mitsui Banking Corporation (SMBC) partnership, State Bank of India\u2019s \u20b925,000 crore qualified institutional placement (QIP) \u2014 the largest ever by an Indian bank \u2014 and the IHC\u2013Sammaan Capital preferential issue.<\/p>\n \u201cFinancial services sector continues to be quite active,\u201d Balasubramanian said, adding that Citi remains a key player in major BFSI transactions.<\/p>\n When asked if Citi plans to pursue acquisitions in India, Balasubramanian clarified that the bank\u2019s current focus is on deepening existing business lines rather than expanding through acquisitions.<\/p>\n \u201cWe are in very good shape in terms of market share in each vertical. At this point, we\u2019re focusing on vertical expansion \u2014 going deeper into existing business lines to capture more market share,\u201d he said.<\/p>\n He further outlined Citi\u2019s strategic goal to position itself as a full-suite institutional bank, stating, \u201cIndia doesn\u2019t have a pure play institutional bank. With that perspective, we are better off in our vertical strategy.\u201d<\/em><\/p>\n Balasubramanian also clarified that Citi does not intend to operate as a wholly owned subsidiary (WOS) in India. \u201cWith the business model we are in today, there is no significant advantage to becoming a WOS,\u201d he stated.<\/p>\n This comes as several global banks, including Emirates NBD and SMBC, have received or sought RBI approval to operate as WOS entities in India. However, Citi intends to continue operating as a branch of its US parent, focusing on institutional and investment banking services.<\/p>\n With a strong IPO pipeline worth up to $15 billion, active deal-making in the BFSI sector, and foreign investor confidence returning, 2025 is shaping up as another stellar year for Citi India.<\/p>\n Balasubramanian remains confident that the IPO momentum could extend into 2026, underscoring Citi\u2019s growing leadership in India\u2019s capital market landscape. K Balasubramanian, CEO of Citi India Subcontinent and Banking Head, expects a strong IPO pipeline in the remaining months of 2025, with potential capital raising of $10\u201315 billion by mid-December. In an interview with Moneycontrol, Balasubramanian said, \u201cBetween now and December 15, we may see another $10\u201315 billion of capital being raised from the market, […]<\/p>\n","protected":false},"author":6,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1367],"tags":[],"ppma_author":[1383],"class_list":["post-16214","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ipo-news"]," _eael_post_view_count":0,"authors":[{"term_id":1383,"user_id":6,"is_guest":0,"slug":"pradeep","display_name":"Pradeep Sangatramani","avatar_url":{"url":"https:\/\/trending.niftytrader.in\/wp-content\/uploads\/2025\/09\/Pradeep-Sangatramni.jpeg","url2x":"https:\/\/trending.niftytrader.in\/wp-content\/uploads\/2025\/09\/Pradeep-Sangatramni.jpeg"},"0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":""}],"_links":{"self":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/16214","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/comments?post=16214"}],"version-history":[{"count":2,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/16214\/revisions"}],"predecessor-version":[{"id":16217,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/16214\/revisions\/16217"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/media\/16215"}],"wp:attachment":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/media?parent=16214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/categories?post=16214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/tags?post=16214"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/ppma_author?post=16214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}2025 Surpasses Market Expectations<\/h2>\n
Foreign Investors Making a Comeback<\/h2>\n
Valuations and Growth Outlook<\/h2>\n
Citi\u2019s Strong Role in BFSI Deals<\/h2>\n
Focus on Deepening Institutional Banking<\/h2>\n
No Plans to Convert into a Wholly Owned Subsidiary<\/h2>\n
Conclusion<\/h3>\n
\n
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\nFII DII Data<\/a>
\nIPO<\/a>
\nBSE Sensex<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"