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Goldman Sachs hires BofA bankers for India dealmaking roles

VCCircle

VCCircle · 1y ago

Goldman Sachs hires BofA bankers for India dealmaking roles

Goldman Sachs has hired two senior bankers from Bank of America for key positions in India. Sunil Khaitan will serve as Goldman's India head of financing, while Kamna Sahni will be India head of Mergers & Acquisitions (M&A). Both executives bring extensive experience in their respective fields and will join the bank in the coming months. The move is seen as a strategic step by Goldman Sachs to capitalize on the growing dealmaking and investor interest in India.

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Goldman Sachs elevates India unit's co-COOs to investment banking heads

VCCircle

VCCircle · 1y ago

Goldman Sachs elevates India unit's co-COOs to investment banking heads

Goldman Sachs has promoted Sudarshan Ramakrishnan and Devarajan Nambakam to co-heads of investment banking in India. The move is in response to the increasing number of dealmaking opportunities in the country. Ramakrishnan and Nambakam were previously the co-chief operating officers in India. They now report to Sonjoy Chatterjee, the Chairman and CEO of Goldman Sachs in India. The two executives will be responsible for managing the bank's investment banking strategy, driving growth in various industry groups, and cultivating stronger client relationships. Additionally, Sunil Khaitan has joined as the head of financing in India.

Ola Electric shares surge 12% to Rs 87.57 on BSE debut

Economic Times

Economic Times · 1y ago

Ola Electric shares surge 12% to Rs 87.57 on BSE debut

Shares of Ola Electric are trading nearly 18.6% higher on the BSE at Rs 90.17 following its lacklustre debut on the stock exchanges. The company's market capitalisation stands at Rs 39,648.95 crore. The IPO was subscribed 4.26 times, with the retail individual investors' category being subscribed 3.85 times. Founder Bhavish Aggarwal sold 37.9 million shares as part of the offer for sale (OFS). Kotak Mahindra Capital Company, Bofa Securities India, Axis Capital, SBI Capital Markets, Citigroup Global Markets India, Goldman Sachs Securities, ICICI Securities, and Bob Capital Markets managed the issue.

Why Goldman stands out as a Trump-era winner on Wall Street

Livemint

Livemint · 10m ago

Why Goldman stands out as a Trump-era winner on Wall Street

Goldman Sachs, the leading global bank, has seen its stock rise by almost 15% in November, outperforming other banks in the S&P 500. This surge has been attributed to the market's optimism surrounding the election of Donald Trump, who is expected to support dealmaking, regulatory easing, and private credit growth. Goldman Sachs could benefit from increased merger and acquisition activity, regulatory rollbacks, and growth in private credit and alternative assets. The bank has been strategically shifting its asset-management arm towards investing for clients through funds, which is less capital-intensive and generates steady management fees. Private credit could flourish under the Trump administration due to potential political motivations and rising Treasury yields. Goldman Sachs could see relatively greater benefits in the private-credit business compared to its competitors, and it has other measures in place to further grow its asset and wealth-management unit. However, market uncertainties and unforeseen challenges could still impact the positive outlook for Wall Street.

Prosus Eyes PayU IPO In 2025

Inc42 · 10m ago

Prosus Eyes PayU IPO In 2025

PayU, a payments solutions provider, has decided to delay its initial public offering (IPO) until 2025. Prosus, the investor, had initially considered PayU's IPO for 2024. PayU has selected Goldman Sachs as one of the lead bankers for the IPO and plans to file its draft red herring prospectus (DRHP) by early 2025. Prosus, meanwhile, has expressed confidence in its India portfolio, citing strong gains from Swiggy's recent IPO and a promising pipeline of potential IPOs in the country.

boAt to launch $300-500 million IPO in next fiscal: Report

Inshorts · 10m ago

boAt to launch $300-500 million IPO in next fiscal: Report

Homegrown wearable and audio brand boAt is aiming to launch its $300-500 million IPO in the next fiscal, ET reported. ICICI Securities, Goldman Sachs and Nomura have been selected as bankers for the public offering, with boAt potentially eyeing valuation above $1.5 billion. boAt had initially filed for a public offering in 2022 but paused due to unfavourable market conditions.

Prosus-owned PayU targets India IPO filing in February, hires bankers

Economic Times

Economic Times · 1y ago

Prosus-owned PayU targets India IPO filing in February, hires bankers

Payment gateway provider PayU, owned by South African conglomerate Prosus, is planning to file for an IPO worth at least $500 million in India. PayU offers various services including buy-now-pay-later and competes with Razorpay and PhonePe. The company has appointed Goldman Sachs, Morgan Stanley, and Bank of America as advisors for the IPO, which is expected to value PayU at between $5 billion and $7 billion. The IPO is planned to be listed by the end of 2024.

Zepto changes parent entity's name ahead of IPO

YourStory

YourStory · 5m ago

Zepto changes parent entity's name ahead of IPO

Zepto, a quick commerce unicorn, has renamed its parent entity from Kiranakart Technologies Private Limited to Zepto Private Limited. This name alignment is part of its strategy to enhance brand recognition as it prepares for a public listing. Zepto has also shifted its domicile from Singapore to India and chosen Goldman Sachs and Morgan Stanley as its lead bankers. The company claims it is close to achieving EBITDA breakeven and has significantly reduced cash flow loss.

Goldman Sachs-backed Aragen Life Sciences weighs IPO, in talks with bankers

VCCircle

VCCircle · 9m ago

Goldman Sachs-backed Aragen Life Sciences weighs IPO, in talks with bankers

Aragen Life Sciences, a drug development and manufacturing company backed by Goldman Sachs, is reportedly considering an initial public offering (IPO) and is engaging in talks with bankers. The company, previously known as GVK Biosciences, has undergone a name change and is assessing the potential of going public. Aragen offers contract drug development and manufacturing services.

India-based leaders steer the wheels of global tech

Economic Times

Economic Times · 1y ago

India-based leaders steer the wheels of global tech

India is emerging as a hub for global leadership roles in multinational companies. Giants like IBM, Accenture, SAP, and Goldman Sachs have established reporting and controlling positions in India. Companies are expanding their operations in India, and more international executives are being based there. For example, PepsiCo is planning to elevate senior executives in India who will handle global teams. This trend is expected to continue as more global capability centers (GCCs) are established in India. The country is also witnessing the creation of new roles, such as chief customer officer and discovery officer, showcasing increased trust and responsibility given to Indian professionals. The growth in global leadership roles in India is expected to continue, with the projection of 20,000 global digital leadership positions by 2030.

Goldman Sachs looking to spin out its digital assets tech platform

Economic Times

Economic Times · 10m ago

Goldman Sachs looking to spin out its digital assets tech platform

Goldman Sachs plans to spin out a blockchain-based technology platform called GS DAP to streamline institutional trading and reduce settlement times. The platform will eventually become industry-owned, and Goldman Sachs has partnered with trading platform Tradeweb Markets to expand its commercial use cases. By establishing a standalone company independent of Goldman Sachs, the bank aims to provide a long-term solution for digital financial services. The spin-out is expected to be executed within the next 12 to 18 months, while Goldman Sachs continues to build out its digital assets business.

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