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Sriram Mani

Business journalist. Incoming grad student at Columbia. Previously at Reuters.

Sriram Mani is a seasoned journalist with a strong background in financial journalism and business coverage. He has worked with reputable organizations such as Reuters, Network18's Moneycontrol, and Mint, where he focused on reporting on deals, venture capital, startups, mergers and acquisitions, and IPOs. Sriram has a track record of breaking stories on major players in the industry including SoftBank, Sequoia, Tiger Global, Byju's, Dream11, and Zomato. His work has involved uncovering fraud at a VC-backed startup, analyzing market trends, and providing in-depth coverage on various companies' inner workings and decision-making processes. With a passion for exploring diverse sectors and stories, Sriram is known for his ability to deliver hard-hitting enterprise stories and engaging long-form pieces.

Highlights

Jun 26 · linkedin

Scoop: Investment banks on Hyundai's India IPO are set to make as much as $40 million in fees, a windfall in a market where banks typically struggle to make money given cost-conscious clients and fewer big deals.

Hyundai is paying banks including J.P. Morgan and Citi 1.3% of the IPO size, which could be as big as $3 billion. That percentage is still lower than what it would be in New York or Hong Kong, but $40 million would be a quarter of India's entire IPO investment banking fees in 2023

Western bankers privately complain about the Indian market's low revenue potential, but they expect that to change in the coming years with both the size of deals and fees going up.

"There is money to be made in India, and this (Hyundai IPO) is the start of a movement," Nomura's former India IB head Utpal Oza says.

More about this important trend, and well who doesn't like knowing how much bankers make!

With Aditi Shah and Scott Murdoch

Sriram Mani
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Location

Mumbai, Maharashtra, India