Goldman Sachs climbs to 2nd among Indian investment banks
Goldman Sachs has climbed to the number two spot among investment banks in India, edging out some big local names.
For the first time since 2022, the US giant has played a major role in government share sales, including LIC's record-breaking $3.3 billion offering, and has been credited as an adviser for five of the 10 major transactions since the latest wave of divestment started in December.
Goldman Sachs doubles down on India
Goldman now trails only Kotak Mahindra Bank for initial and secondary offerings in 2026, moving ahead of Axis and ICICI.
With India targeting ₹800 billion in divestments by March 2027, Goldman is doubling down, having injected about $500 million into its India banking franchise over the last three years, expanding offices in Mumbai, and employing thousands in its global capability centers in Bengaluru and Hyderabad to keep up with the action.