TOPIC

INVESTMENT
BANKING
COMPANIES IN
INDIA
TABLE OF CONTENTS
1. Introduction
2. Overview of Investment Banking in India
3. Research Methodology
4. Top Investment Banking Companies in India
4.1. Global Investment Banking Companies in India
4.2. Domestic Investment Banking Firms in India
4.3. Boutique Investment Banking Firms in India
5. Factors to Consider When Choosing an Investment Bank
6. Tips for Landing a Job at a Top Investment Banking
Company
7. Conclusion
8. Bibliography
 INTRODUCTION
Investment banking in India refers to the financial activities undertaken by banks or
financial institutions to assist corporations, governments, and other entities in raising
capital, providing financial advisory services, facilitating mergers and acquisitions,
and managing risks. Essentially, investment banks in India help clients access capital
markets, manage financial transactions, and navigate complex financial situations to
achieve their strategic goals. This sector plays a crucial role in the Indian economy by
facilitating the flow of capital and supporting business growth and development.
 Overview of
Investment Banking in
India

The investment banking sector in India has experienced

substantial growth over the past few decades. With the
Indian economy rapidly expanding and international
businesses entering the market, investment banks play a
crucial role in financing projects, managing mergers and
acquisitions, and supporting capital market operations.
 Top Investment
Banking Companies in
India
Listed below are 18 Investment Banking Companies in India, under 3 main
categories – Domestic, International, and boutique Investment Banks based
on their size of operations –

Global Investment Banking Companies

in India
Global investment banks have a significant presence in
India. Some of the most renowned names include:
1. J.P. Morgan – Known for its expertise in M&A, capital
markets, and wealth management services, J.P. Morgan has
a strong presence in India with multiple offices nationwide.

2. Goldman Sachs – This global powerhouse provides a full

range of investment banking services, such as securities
trading, asset management, and financial advisory services.

3. Morgan Stanley – With a strong focus on M&A, capital

raising, and financial restructuring, Morgan Stanley has
made its mark in the Indian investment banking landscape.
4. Bank of America Merrill Lynch – Boasting a strong
presence in India, Bank of America Merrill Lynch offers
services in M&A, capital markets, and corporate banking.

5. Barclays – This British multinational bank provides

various investment banking services, including capital
raising, M&A, and wealth management.

6. Credit Suisse – With a solid presence in India, Credit

Suisse specializes in investment banking, asset
management, and private banking services.

7. Deutsche Bank– The German multinational investment

bank has a significant presence in India, providing services
like mergers and acquisitions, capital markets, and risk
management.

8. BNP Paribas– This French bank has a strong presence in

India, providing various investment banking services, such
as corporate finance, structured financing, and equity
capital markets.

9. UBS– The Swiss multinational bank offers a full range of

investment banking services in India, including mergers
and acquisitions, capital market operations, and wealth
management.
Given below is a table that compares the above-listed International Investment banks on more
factors like Services, Location, Year of establishment, Employees, and notable deals-

Number of
Investment Year of
Key Services Headquarters Employees Notable Deals
Bank Name Establishment
(Approx.)

M&A, Capital Acquisition of

New York, 2000 (merger
J.P. Morgan Markets, Risk 255,000 Bear Stearns,
U.S.A year)
Management 2008

M&A, Capital
Goldman New York, Alibaba IPO,
Markets, Asset 1869 40,500
Sachs U.S.A 2014
Management

M&A, Capital
Morgan New York, Facebook IPO,
Markets, Wealth 1935 60,000
Stanley U.S.A 2012
Management

Bank of
M&A, Capital North Acquisition of
America 2009 (merger
Markets, Wealth Carolina, 208,000 Merrill Lynch,
Merrill year)
Management U.S.A 2009
Lynch

Financial
Brokered the
Advisory, Equity
AB InBev and
Barclays and Debt Capital London, U.K 1690 83,500
SABMiller
Markets, Risk
merger, 2016
Management

Financial
Involved in the
Credit Advisory, Capital Zurich,
1856 48,770 IPO of Ant
Suisse Markets, Wealth Switzerland
Group, 2020
Management

Involved in the
M&A, Capital
Deutsche Frankfurt, merger of
Markets, Risk 1870 87,000
Bank Germany Daimler and
Management
Chrysler, 1998

Corporate
Finance, Major stake
BNP
Structured Paris, France 1848 193,000 purchase in
Paribas
Financing, Equity Fortis, 2009
Capital Markets

M&A, Capital Played a role

Zurich,
UBS Market 1862 70,000 in the
Switzerland
Operations, Glencore
Domestic Investment Banking Firms in
India
India is home to several prominent domestic investment
banks (also called Middle Market Investment Banks),
including:
1. ICICI Securities – A subsidiary of ICICI Bank, ICICI
Securities offers services in equity capital markets,
M&A, and institutional equities.

2. HDFC Bank – As one of India’s largest banks, HDFC

Bank provides a wide array of investment banking
services, including project finance, capital market
operations, and advisory services.

3. Kotak Investment Banking – Part of the Kotak

Mahindra Group, Kotak Investment Banking specializes
in M&A, capital markets, and private equity transactions.

4. Axis Capital – A leading domestic investment bank,

Axis Capital offers services in equity capital markets,
M&A, and institutional equities.

5. Edelweiss Financial Services – This diversified

financial services company provides investment banking
services, including M&A, capital markets, and private
equity advisory.

6. JM Financial – With a strong presence in India, JM

Financial offers a wide range of investment banking
 services, including M&A, capital markets, and structured
finance.

7. Motilal Oswal Investment Advisors – This Indian firm

offers services including mergers and acquisitions,
private equity, and capital market operations.

8. YES Securities-The investment banking arm of YES

Bank, offering services such as equity capital markets,
structured finance, and mergers and acquisitions in India.

9. IIFL Investment Banking – A part of the IIFL Group,

this bank offers comprehensive investment banking
services, including mergers and acquisitions, private
equity, and capital market services.

Given below is a table that compares the above-listed domestic Investment banks on more
factors like Services, Location, Year of establishment, Employees, and notable deals-
 Number of
Investment Year of
Key Services Headquarters Employees Notable Deals
Bank Name Establishment
(Approx.)

Equity Capital IPO of ICICI

ICICI Markets, M&A, Mumbai, Prudential Life
1995 4,500
Securities Structured India Insurance,
Finance 2016

Acquisition of
M&A, Private
Mumbai, Centurion
HDFC Bank Equity, Structured 1994 116,971
India Bank of
Finance
Punjab, 2008

Kotak M&A, Private IPO of Coal

Mumbai,
Investment Equity, Capital 2006 1,500 India Limited,
India
Banking Markets 2010

Acquisition of
M&A, Private
Mumbai, Enam
Axis Capital Equity, Capital 2005 2,200
India Securities,
Market Operations
2010

Edelweiss M&A, Private IPO of Bharat

Mumbai,
Financial Equity, Capital 1996 10,000 Road Network
India
Services Market Operations Limited, 2017

Financial
Advisory, Debt IPO of ICICI
and Equity Mumbai, Prudential Life
JM Financial 1986 1,300
Syndication, India Insurance,
Structured 2016
Financing

Motilal
M&A, Private
Oswal Mumbai, IPO of RBL
Equity, Capital 1987 3,300
Investment India Bank, 2016
Market Operations
Advisors

Equity Capital
IPO of
YES Markets, Mumbai,
2012 1,000 Mahanagar
Securities Structured India
Gas, 2016
Finance, M&A

IIFL M&A, Private IPO of Bharat

Mumbai,
Investment Equity, Capital 1995 13,500 Road Network
India
Banking Market Services Limited, 2017
Boutique Investment Banking Firms in
India
Boutique investment banks in India cater to niche
markets and offer specialized services. Some
noteworthy boutique firms include:
1. Avendus Capital – Focusing on cross-border M&A and
private equity advisory, Avendus Capital has made a
name for itself in the Indian market.

2. o3 Capital – This boutique firm specializes in M&A,

private equity transactions, and capital raising for mid-
market companies.

3. Spark Capital – With expertise in sectors like

technology, healthcare, and financial services, Spark
Capital offers tailored investment banking solutions.

4. Equirus Capital – This boutique investment bank

specializes in M&A, capital markets, and structured
finance transactions.

5. SBI Capital Markets – As a subsidiary of State Bank of

India, SBI Capital Markets offers investment banking
services, including project finance, M&A, and debt
advisory.
6. Ambit Corporate Finance – This boutique firm
provides services in M&A, private equity, and capital
markets, with a focus on mid-market companies in India.

7. Mape Advisory Group – An Indian boutique

investment bank providing services in mergers and
acquisitions, private equity, and venture
capital transactions.

8. Signal Hill – An India-focused boutique investment

bank offering services in the technology sector, with
expertise in mergers and acquisitions, private capital
advisory, and financial consulting.

9. Unitus Capital – A boutique investment bank with a

strong presence in India, focusing on social sector
projects and providing services in capital raising,
financial advisory, and impact investing
Given below is a table that compares the above-listed boutique Investment banks on more factors
like Services, Location, Year of establishment, Employees, and notable deals-

Number of
Investment Year of
Key Services Headquarters Employees Notable Deals
Bank Name Establishment
(Approx.)

M&A, Private Acquisition of

Avendus Mumbai,
Equity, Wealth 1999 300 Appirio by
Capital India
Management Wipro, 2016

M&A, Private
Equity, Mumbai, Sale of Hoopla to
o3 Capital 2007 50
Corporate India Hershey’s, 2018
Advisory

M&A, Private
Spark Chennai, IPO of La Opala
Equity, Capital 2001 120
Capital India RG, 2009
Markets

M&A, Private IPO of AU Small

Equirus Mumbai,
Equity, Capital 2007 150 Finance Bank,
Capital India
Markets 2017

M&A, Project Financial Advisor

SBI Capital Mumbai,
Advisory, Debt 1986 200 for disinvestment
Markets India
Syndication of HPCL, 2003

Acquisition of
Ambit M&A, Private
Mumbai, Haldia
Corporate Equity, 1997 200
India Petrochemicals,
Finance Restructuring
2014

Mape M&A, Private

Bangalore, Sale of Minacs to
Advisory Equity, Capital 2001 50
India Concentrix, 2016
Group Markets

M&A, Private
Equity, Baltimore, Sale of Appirio to
Signal Hill 2002 150
Corporate USA Wipro, 2016
Advisory

Impact
IPO of Ujjivan
Unitus Investing, Bangalore,
2008 40 Financial
Capital M&A, Capital India
Services, 2016
Markets
Factors to Consider When Choosing an Investment
Bank
When evaluating investment banking companies in India, you
should consider factors such as:
1. Company culture and work environment
2. Opportunities for growth and development
3. Reputation and market presence
4. Range of services and industry focus

Tips for Landing a Job at a Top Investment Banking

Company
To secure a position at a leading investment banking company
in India, follow these strategies:
 Build a strong educational foundation in finance,
economics, or business management.
 Network with industry professionals and attend relevant
events.
 Develop key skills, such
as analytical thinking, Financial Modeling, and Excel.
 Consider pursuing professional certifications like
the CFA and FRM
 Conclusion
India’s investment banking landscape offers diverse
opportunities for aspiring professionals. By understanding the
top companies in the market and considering factors like
company culture and growth potential, you’ll be well-
equipped to make informed decisions as you embark on your
investment banking journey.

BIBLIOGRAPHY
1. Books: NCERT, Ankita Das
2. Teachers
3. Family
4. Internet
5. https://quintedge.com/investment-banking-
companies-in-india/
 COURSE:- BACHELOR OF BUSINESS ADMINISTRATION

NAME:- ANKITA DAS

VU ROLL NO :-UG/VUOAP02/2021/BBA-IVS/010

VU REGISTRATION NO:-VU211044959 OF THE YEAR 2021-

2022

SPECIALIZATION:-FINANCE

NAME OF THE INSTITUTE:-EIILM, KOLKATA

UNDER THE GUIDANCE OF

(PROF. ARATRIKA ROY CHOWDHURY)

FACULTY, EIILM SUBMITTED TO

EIILM, KOLKATA

AFFILIATED TO VIDYASAGAR UNIVERSITY

 RESEARCH
METHODOLOGY

RESEARCH DESIGN :
The research was based on exploratory research.

 Secondary Data
 Organization Website Internet
 Internet / Google

SECONDARY DATA :
Secondary data is research data that has previously been
gathered and can be accessed by research and also secondary
data sources are beneficial. Secondary data allow researchers
and data analysis to build large, high-quality databases that
help solve business problems.