IPO Mania: Investment bankers pocketed $1.3 billion in fees last year

Kotak Mahindra Bank led India's investment banking fee rankings in 2024, earning $92.8 million and a 7.2% wallet share, according to LSEG data. Investment banking fees rose 1% YoY, while IPOs from Indian issuers hit a record $20.5 billion, a 176% surge from 2023, driven by a 40% increase in the number of IPOs.