A layman would automatically think of banks as a financial institution to manage your cash deposits, withdrawals and loans. These come under the segment of commercial banks. There is a different segment of banks as well. Just like commercial banks manage cash transactions, the other type of banks engage in advisory-based financial transactions on behalf of individuals, corporations, and governments. Their main expertise of focus is on stocks, bonds, and investment products. These are termed as investment banks. 

 

 

Timeline of Investment Banking in India

Initially, in the 19th century, European merchant banks first established trading houses in the region and had a monopoly in the market before the entry of the State Bank of India in the 1970s. The Bureau of Merchant Banking was born, and the picture of investment banking became governmentalized. 

After that, many rules and regulations came into effect. The Association of Investment Bankers of India (AIBI) ensures member institutions follow all ethical and legal practices in relation to investment banking. It further seeks to promote the investment banking industry and the business interests of its members.

Investment Banking Companies in India

India has seen a boom of merchant bankers registering with the Securities and Exchange Board of India (SEBI) and now that AIBI is a representative of investment banking in India, the industry has become more resilient, has seen futuristic opportunities and is a growing business ever since. On that note, here is a list of the top 5 investment banking companies in India right now:

 

1. Axis Capital Limited:

Axis Capital Limited, previously named ENAM Securities Private Limited, is a part of Axis Bank and is one of India’s top financial institutes, focused on providing customized solutions in the areas of Investment Banking and Institutional Equities. It provides services in equity capital markets, M&A, private equity, structured finance and institutional equities.

 

 

Year of Establishment: 2005

CEO: Chirag Negandhi & Salil Pitale

Headquarters: Mumbai

Website: https://www.axiscapital.co.in/ 

 

2. Avendus Capital:

Avendus is a financial services firm that aims to provide best solutions in asset management, credit solutions, investment banking and wealth management. It provides services in M&A, private equity and investment banking.

Year of Establishment: 1999

CEO: Andrew Holland

Headquarters: Mumbai

Website: https://www.avendus.com/india 

 

3. Edelweiss Financial Services Limited:

Edelweiss Financial Services Limited is among India's top diversified financial services caters to a substantial and differentiated client base, including corporations, institutions and individuals. It provides services in credit, investment & advisory, insurance, wealth management, asset management and corporate advisory. 

Year of Establishment: 1995

CEO: Rashesh Shah

Headquarters: Mumbai

Website: https://www.edelweissfin.com/ 

 

4. JM Financial Institutions Securities:

JM Financial is another one of India’s most prominent financial services groups. It specializes in delivering a gamut of businesses to corporations, financial institutions, high net-worth individuals and even retail investors. It provides services in investment banking, wealth management, mortgage lending, distressed credit and asset management.

Year of Establishment: 1998

CEO: Nimesh Kampani

Headquarters: Mumbai

Website: https://www.jmfl.com/ 

 

5. ICICI Securities Limited:

ICICI Securities Ltd, registered with the Monetary Authority of Singapore (MAS), is a technology-based firm that offers a wide range of financial services. It provides services in investment banking, institutional broking, retail broking, private wealth management, and financial product distribution.

Year of Establishment: 1995

CEO: Vijay Chandok

Headquarters: Mumbai

Website: https://www.icicisecurities.com/ 

 

Other Investment Banking Companies in India

Apart from the top 5 investment banking companies, others include IDBI Capital Market Services Ltd., O3 Capital Global Advisory Services, Veda Corporate Advisors, Unitus Capital, Spark Capital, Mape Capital Advisors, A.K. Capital Services Ltd., Barclays Bank Plc., Jefferies India Pvt.Ltd., Ashika Capital Ltd., etc. 

 

The Future of Investment Banking in India

So, how good is the future for investment banking in India? Turns out, it has a pretty positive answer. The industry of investment banking in the country has seen constant growth, international opportunities and pliability. If you’re looking to land a job in one of these companies to become “the wolf of wall gully”, then make sure to keep networking, understand the interview process and work hard in the field to get to the top!