Equirus Capital eyes double-digit growth

Strengthens teams across verticals

Equirus Capital Pvt. Ltd., an investment bank 20% owned by the Federal Bank, has targeted to achieve double- digit market share across products and sectors, a top executive said.

“We are looking at a double-digit market share across products and sectors to build upon the deal closures we achieved during the pandemic,” said Ajay Garg, MD.

“This is being made possible by the considerable time and energy we have spent in strengthening our teams across advisory and capital markets verticals,” he added.

In FY21 the team closed transactions worth ₹5,000 crore he said. The firm is into investment banking, fixed income, capital markets, institutional equities, PMS and wealth management.

To support its growth, the firm has expended its team by adding Venkatraghvan S., Vinay Pai and Bhavesh Shah who have expertise in making deals.

“We are anticipating the next 12 months to be the best period for advisory and capital markets practices across the markets,’” he said.

“Conservative estimates peg 100 companies are looking to unveil IPOs in the next 12 months with similar number of transactions being planned through QIPs and rights mechanism,” he said.

“At an average transaction size of Rs. 1,000 crore, this will translates to a cumulative fund raising of over ₹3 lakh crore (including LIC IPO which is expected to be worth ₹75,000 crore). This does not include transactions such as buy-backs, open offers, OFS, IPPs and excludes core advisory transactions in private equity and M&As,” he added.

He said sustained demand recovery and improved capacity utilisation are making companies raise growth capital. Besides strong markets and healthy valuations supported by liquidity are acting as triggers for private equity investors to evaluate exits as well.

The firm is looking to add capabilities across sectors and new product areas. It said its wealth management practice has helped it expand the reach for its advisory business.

“Our partnership with Federal Bank has also matured over the years and today we are intrinsically involved in multiple transactions for clients of Federal Bank,” he said.

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