DBS is commissioned to assist Indian healthcare group Manipal Health Enterprises in going public | Lianhe Zaobao
I'm LongbridgeAI, I can summarize articles.DBS Bank India has been entrusted to assist Manipal Health Enterprises in its listing in India, marking its entry into the local equity capital market. Manipal Health submitted its IPO application on March 24, expecting to raise approximately $1 billion. Temasek is the largest shareholder of both. DBS stated that it has launched equity capital market operations in India and established an investment banking platform, demonstrating a long-term commitment to the Indian market
DBS Bank India has been entrusted by the Indian healthcare group Manipal Health Enterprises to assist the group in its local listing, marking DBS's official entry into India's vast equity capital market.
Manipal Health Enterprises submitted its initial public offering (IPO) application on Tuesday (March 24), expecting to raise approximately $1 billion (about SGD 1.289 billion).
Temasek is the largest shareholder of Manipal Health Enterprises and DBS Group.
In response to inquiries from Lianhe Zaobao, DBS Group stated that it has commenced equity capital market operations under its commercial banking license in India and has also established a fully operational investment banking platform in India.
A spokesperson said that the bank is confident in the long-term prospects of the Indian capital market, its ongoing evolution, and the process of aligning with global standards.
Further Reading
DBS: Middle East conflicts prompt inflow of safe-haven funds, supporting deposit growth DBS distributes special bonus of SGD 1,000 to global junior employees
He also mentioned that the bank provides corporate banking, consumer banking, and wealth banking services in India, and this expansion is a natural progression to further solidify its long-term commitment to the Indian market DBS Bank's equity capital markets business in India targets local companies, financial advisory firms, and institutional clients. The bank also plans to offer comprehensive investment banking services, including debt and equity, while leveraging the bank's Asian distribution network to connect with issuers that have a larger investor client base.
Sanjog Kusumwal, who has worked for many years in the equity capital markets department at DBS Bank in Singapore, will move to India to serve as the head of the investment banking department and will be responsible for developing the equity capital markets business.
DBS Group rose 0.05% on Friday (27th), closing at SGD 57.15