IPO boom prompts ICICI to hire more bankers

Hiring spree: A pedestrian walking past an ICICI Bank branch in Mumbai. India is joining the global share sale frenzy thanks to ample liquidity in the market. — Bloomberg

NEW DELHI: India’s second largest private lender ICICI Bank Ltd is making its biggest hiring push in investment banking and institutional equities in four years, as it anticipates a rise in companies going public.

The Mumbai-based firm plans to add five mid-to-senior level hires in each of the two units, which currently have 130 bankers in total, according to Ajay Saraf, head of investment banking and institutional equities at ICICI Securities Ltd.