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Citi Boosts India Presence, Backs Ambitious Indian Firms with Capital and Advice
30 Oct
Summary
- Citi to deploy more capital in India as Indian companies eye global deals
- Citi's global investment banking head sees strong M&A momentum despite volatility
- Citi expects India's IPO market to set new records in the next 12 months
As of October 30, 2025, Citi is ramping up its focus on the Indian market, with plans to deploy more capital to support the growing ambitions of Indian companies. Viswas Raghavan, Citi's global head of banking and executive vice chair, has been leading the firm's efforts to expand its team and capabilities across key markets, riding the wave of strong global M&A activity.
Raghavan, who joined Citi last year from JP Morgan, where he led global investment banking, believes Indian companies are increasingly looking at international deals and Citi is committed to providing them with advice and capital to help realize their global aspirations. He notes that Indian companies now have the "currency and wherewithal to really dream big" when it comes to cross-border transactions.
Citi's global credit book, valued at around $400 billion, positions the bank well to lend to Indian companies as they pursue these ambitious growth plans. Raghavan also highlights Citi's $25 billion joint venture with Apollo, which allows the bank to originate, underwrite, and manage credit both as a principal and an agent.
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Looking ahead, Raghavan is particularly bullish on India's IPO market, expecting it to set new records in the next 12 months. He notes that the pipeline for initial public offerings in India this year is already strong, and he believes this momentum will only continue, driven by the country's vibrant startup ecosystem and the growing appetite of global investors.
