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HNI demand for IPO loans sees surge

Robust appetite from rich investors has driven down financing costs to as low as 5%

Domestic i-banks gain edge in IPOs

AnincreasingnumberofwealthyindividualsareapplyingforequityInitialPublicOffers(IPOs),buoyedbythehealthylistinggainsinsomeoftherecentones. Thishighdemandhas,inturn,drivendowninterestcostandgivenafilliptotheIPOfinancingbusinessofthenon-bankingfinancialcompany(NBFC)armsofdomesticbrokerages. OnTuesday,theRs1,200-crorepublicissueofRBLBankgarneredanoverallsubscriptionofnearly70times.Ofthesehighnetworthindividuals(HNIs)bidfornearly200timesthenumberofsharesonoffer.Asaresult,theNBFCarmsofbrokerssuch ...