Market Chatter: Goldman Sachs Gains Ground in India's Government Share Sales

MT Newswires Live
Aug 21

Goldman Sachs (GS) is gaining ground in India's government share-sale market, securing mandates for five of the 10 major transactions since the latest divestment wave began in December, Bloomberg reported Friday.

According to the report, Goldman advised on Life Insurance of India's $3.3 billion stake sale, the country's largest secondary stock offering, and won sell-down mandates for four state-run lenders, including Central Bank of India and Indian Overseas Bank. Goldman was also the sole manager for Ant Group's stake sale in Paytm, Bloomberg reported.

Goldman has expanded its India operations, strengthening its equity-capital-markets presence and positioning the bank for broader financing, merger and pre-IPO mandates, Bloomberg added.

Goldman Sachs didn't immediately respond to a request for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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