Whalesbook
Toh hua yun ki, is baar bade deals ne kamaal kar diya. ₹8,000 Crore ke Vishal Mega Mart ke block trade, ₹6,000 Crore ka Raajmarg Infra Investment Trust IPO, aur BHEL mein sarkaar ke ₹4,000 Crore se zyada ke offer for sale ne ECM fees ko $84.3 Million tak pahuncha diya. Yeh 2018 ke baad Q1 ka highest hai. Par, yeh growth sirf kuch bade deals se aayi hai, kyunki overall equity issuance 9.3% kam hua aur offers 18.3% kam the.
Ab aate hain baaki sector par. Yahan toh poori giraawat hai! Investment banking ke overall fees 31% gir kar $231.4 Million par aa gaye hain, yeh bhi 8 saal ka sabse kam number hai. M&A deals ki fees aadhi ho gayi, matlab $71.9 Million reh gayi. Aur DCM (Debt Capital Markets) mein underwriting fees toh 44% ghisak kar $47.2 Million par aa gaye. Syndicated lending fees bhi 36% gir gaye.
IPO market bhi kuch khas performance nahi dikha raha. Haalanki IPO se paisa 7.8% badhkar $2.5 Billion aaya hai, jo 2018 ke baad sabse accha Q1 hai, par IPOs ki sankhya 14.1% kam hui. Aur jo 2026 mein IPOs aaye hain, unka listing performance 2024-25 ke IPOs se kamzor raha hai. Lagbhag 11 mein se 7 mainboard IPOs ne kamzor ya negative listing gains dikhaye hain. Matlab investors ab itne excited nahi hain.
Bankon ki baat karein toh, Axis Bank ne overall fees mein $21.9 Million kamakar 9.5% market share hasil kiya hai, aur unki fees 182% badhi hai. Unki market cap lagbhag ₹3.72 lakh crore hai. Kotak Mahindra Bank ECM league tables mein 12.4% share ke saath top par hai, lekin unki fees 40% kam hui hai. Morgan Stanley ne bhi 93% fees growth dikhaya hai.
Ab sabse bada reason yeh girawat ka? Geopolitical tensions, khaas kar West Asia mein. Isse crude oil prices badh rahe hain aur market mein volatility aa gayi hai. Investors ab risk lene se darr rahe hain, aur is wajah se deals postpone ho sakte hain. Yeh sab cheezein milakar overall banking market mein dar dikh raha hai, jahan sirf kuch bade equity deals hi chal rahe hain.
Aage ka outlook filhal toh caution wala hai. Market jab tak stable nahi hota, deals kam hi rahenge. Lekin financial, energy, aur retail sector ki companies future mein raising ke liye prepare kar rahi hain. Banking sector fundamentals strong hain, par yeh geopolitical pressures ko dekhna padega.