Axis Bank ranks number one in bond syndication market for 2011

Axis Bank maintained number one position in domestic bond syndication market for the fourth consecutive year, according to data released by Bloomberg. The private bank ranked first in year 2011 cornering 16% of market share in a year where corporates raised Rs 174700 crore through issuance of bonds.

Power Finance, HDFC, Rural Electrification, IDFC and LIC Housing Finance were top debt issuer contributing to 42.4% of total borrowings in the bond market.

Axis Bank arranged Rs 29700 crore while ICICI Bank, the number two arranger, had 13% market share and helped corporates raise Rs 22,700 crore in 2011.

Meanwhile State Bank of India pipped Kotak Mahindra Bank, Citi, A K Capital to emerge 9th in the list from 14th position it held last year. SBI arranged bond of Rs 6300 crore.

Similarly Real Growth Securities and IDFC Capital moved in higher position. While Real Growth was ranked 16th from 24th, IDFC was at 19th from 35th a year ago.

Bloomberg data shows that A K Capital and Barclays Capital lost out to their rivals. A K Capital was ranked 12th in 2011 from 8th position it held last year. Its market share also shrinked 2.8% from 5% a year ago. Similarly, Barclays was pushed to 5th position from 3th position last year. The British bank had market share was 6.9% from 8.5% last year.

Source: EconomicTimes