[HSBC plans to return to India’s stock brokerage business, targeting the IPO boom and high-net-worth customers] On September 24, people familiar with the matter said that HSBC plans to return to India’s stock brokerage business, ending its absence for more than ten years. The move is aimed at capitalizing on strong local IPO momentum and meeting growing demand for stock market products from wealthy clients. The move marks a reversal of HSBC's 2013 decision to exit India's domestic retail brokerage and custody business and highlights the growing importance of India's capital markets and wealth management industries to global banks. HSBC has begun rebuilding its equities platform in India and is hiring executives for cash equities and prime brokerage, people familiar with the matter said. HSBC may launch retail brokerage services in the coming months, people familiar with the matter said.