Jio’s record India IPO falls short of record payday for bankers - The
Jio Platforms raised about $3.1 billion through its record IPO, but intense competition among investment banks kept fees relatively low at around 0.65% of the issue size.
Jio Platforms Ltd. raised a record amount of funds for billionaire Mukesh Ambani’s digital and telecommunications giant, but it proved to be far less lucrative for the bankers handling the deal.The company is paying about 1.96 billion rupees ($20.7 million) in fees to the 19 banks on the roughly $3.1 billion IPO, according to filings. That amounts to about 0.65% of the issue size, trailing the fee pools of several previous offerings in India.Fierce competition among investment bankers in India has compressed fees, particularly for marquee deals.
