A hot equity market in India is prompting HDFC Bank Ltd. to try to muscle in on the action as companies raise record levels of funding. Despite being India’s most valuable lender, HDFC Bank so far hasn’t been able to exploit its strong balance sheet to make inroads into this competitive market. “As we build our distribution network a larger share of the equity capital market deals will come our way." The country’s second-largest lender will have to fight it out with veteran local players including ICICI Bank Ltd., Axis Bank Ltd. and State Bank of India. HDFC Bank ranked number 16 for overall equity deals business last year, and number 29 in 2019, according to data compiled by Bloomberg.

Source: Mint May 30, 2021 23:48 UTC