Barclays Prepares to Relaunch India Equity Capital Markets Advisory After Decade-Long Hiatus — October 14, 2026

British multinational lender Barclays Plc is preparing to restart its equity capital markets (ECM) advisory business in India after a hiatus of nearly ten years, positioning itself to capture a larger share of the country's historic fundraising boom.

The London-headquartered bank had exited its Indian ECM, equity broking, and research operations roughly a decade ago as part of a wider restructuring across Asia. The renewed push will see Barclays expand beyond its current footprint in corporate lending, debt financing, and mergers and acquisitions (M&A) advisory to offer a full suite of wholesale banking solutions.

Capitalising on an Unprecedented Fundraising Boom

Barclays India Chief Executive Officer Pramod Kumar confirmed the development on the sidelines of the Bloomberg New Economy Forum in New Delhi, highlighting that equity capabilities had become the sole missing link in the bank's local franchise.

"That’s one important product missing in our otherwise very strong wholesale banking offering," Kumar noted, adding that the bank believes India provides a sustained, long-term opportunity to assist corporate clients across both debt and equity financing.

The planned comeback coincides with rapid expansion in India's primary equity markets:

• Record Investment Banking Fees: Investment banks earned an all-time high of $417 million in IPO fees in India last year, according to data compiled by the London Stock Exchange Group (LSEG), aided by strong deal velocity and enhanced underwriting margins.
• Massive Primary Market Volumes: Indian companies mobilized approximately $25.27 billion through equity fundraising in the first half of fiscal 2027—a 75% surge year-on-year.
• Deepening Deal Pipeline: Roughly 170 companies have secured regulatory clearance from the Securities and Exchange Board of India (SEBI) for public issues, with another 115 draft offer documents actively under review.

Domestic Liquidity Driving Market Resilience

A central catalyst encouraging global investment banks to bolster their local desks is the growing maturity and resilience of Indian retail liquidity. Kumar pointed out that domestic inflows, led by systematic investment plans (SIPs) from retail and high-net-worth individuals, have created a substantial cushion that supports primary issuances even during phases of foreign institutional selling.

India's economic growth, with gross domestic product (GDP) compounding at upwards of 7%, continues to generate capital demand across high-growth segments. A pipeline of new-age tech ventures, fintech entities, consumer technology platforms, and massive capital expenditure plans in infrastructure and manufacturing sectors are driving businesses toward the public markets.

What It Means for Indian Issuers and Investors

Barclays' return to Indian equity advisory marks a pivotal shift in the competitive landscape for merchant banking in India:

Deeper Global Distribution Indian companies planning large-scale listings will gain access to another prominent balance sheet with global institutional investor reach, particularly useful for cross-border allocations and anchor book placements.

Greater Underwriting Competition With Barclays joining domestic stalwarts and global peers such as Morgan Stanley, JPMorgan, and Citigroup, competition for lead manager mandates will intensify, providing issuers with competitive fee structures and structured capital solutions.

Full-Stack Coverage for Clients Corporate entities already leveraging Barclays for structured debt, syndicated loans, or overseas bond issuances can now consolidate their capital-raising strategies under a unified investment banking umbrella.

Tags: Barclays SEBI Investment Banking Equity Capital Markets IPO Wholesale Banking