Investment banking companies in India play a crucial role in shaping the economy by handling large and complex financial transactions.
Investment banks of India help businesses and start-ups to:
- Raise capital
- Navigate mergers
- Purchase companies
- Manage assets and financial dealings
Investment banking companies in India are well-known for their work as an intermediate between companies and financial markets.
Their main task revolves around issuing IPOs and facilitating mergers for corporations.
Investment banking companies in India aid in:
- Economic growth
- Creates thousands of jobs
- Supports international trade and investments
This makes financial dealings more secure and diversified which improves the standard of living for many people in the country.
India is rapidly adapting to the investment market, with global giants like JP Morgan, Goldman Sachs, and Morgan Stanley, establishing their presence in the country.
These firms offer high-net-worth individuals a range of prestigious investment options.
Come along as we introduce you to the top 10 Investment banking companies in India for 2024.
You won’t want to miss this if you are:
- A business owner
- Investor
- Finance enthusiast
Understanding these leading firms will provide valuable insights into India’s thriving investment banking sector.
Before we do that, let’s have a glance at the brief history of the Investment banks of India.
Investment Banks of India
In the 1970s, The State Bank of India (SBI) created the Bureau of Merchant Banking.
By the 1980s, the number of investment banks in India had risen to more than 20.
The entry of investment banks into India, led by initiatives like the Bureau of Merchant Banking, marked a major change in the country’s financial scene.
By the 1980s, the number of investment banks had grown significantly, transforming many aspects of Indian society.
Investment banks of India had a huge impact on the nation’s growth. It has contributed to economic development, financial inclusion, technological progress, and global integration, improving the lives of millions of Indians.
List of Top 10 Investment Banking Companies in India
There are over 300 investment banks that operate in India today. A few of the leading ones in the field are listed below.
1. AXIS Capital
Axis Capital Limited (ACL) formerly Enam Securities Private Limited, is a subsidiary of Axis Bank.
It is one of India’s biggest investment banking firms. ACL specializes in boutique and mid-market services.
The company achieved a combined and standalone total income of Rs. 47,568.71 lakh in 2023.
2. Avendus Capital
An Indian-based investment bank, Avendus Capital focuses on:
- Asset management
- Investment banking
- Wealth management
- Private placement services.
According to the company’s 2022-23 Annual Report, Avendus Capital had an annual revenue of INR 24,466 lakhs, surpassing the previous year’s revenue of INR 20,345.19 lakhs.
3. Edelweiss Financial Services Limited
Founded by Rashesh Shah, this company is a part of the Edelweiss Group. As a result, the group serves a large and diverse clientele.
Edelweiss offers services like:
- Debt capital transactions
- Asset management.
The company’s net profit hiked 13.26% since last year’s same period to Rupees 169.11Cr in Q4 2023-24.
4. JM Financial Institutions Securities
JM Financial Institutions Securities has a comprehensive view of banking, handling topics including mortgage lending to wealth management and troubled credit to brokerage services and asset reconstruction.
They are very well known in the industry for providing private equity services. The firm retains clients from big corporations, high-net-worth individuals, and retail investors.
Their deep understanding, long-standing experience, and innovative approach toward the Indian market help them achieve their client’s goals.
They also successfully launched Bondskart.com as India’s first investment platform that offers a rich range of premium bonds to retail investors and reported their highest-ever consolidated operating PAT.
JM Financial Ltd’s revenue jumped 46.49% since last year’s same period to Rs.1,276.12Cr in Q4 2023-24.
5. IDBI Capital
IDBI Capital is a venture capital firm and subsidiary of IDBI Bank based in India.
As an investment bank, it offers services in:
- Investment banking
- Underwriting
- Debt placement
- Capital market products
- Corporate consultancy
It has a net worth of roughly INR 3 billion and engages more than 200 employees in 15 locations across India.
They earned a total income of Rs. 98.11 crore during FY 2022-23, representing a decline of about 10.7% compared to the previous financial year.
However, the Company reported a Profit After Tax (PAT) of Rs. 7.27 crore for the financial year.
6. O3 Capital Global Advisory Services
O3 Capital Global Advisory Services is a full-service mid-market investment bank, serving:
- Individuals
- Institutions
- Corporate clients
Their areas of expertise include Corporate finance and wealth management.
Moreover, the firm also concentrates on:
- Healthcare
- Life sciences
- Industries
- Financial services
The company has a Rs 125 lakh authorized capital and a Rs 120.38 lakh paid-up capital of 96.30096%.
O3 Capital Global Advisory’s operating revenue range was INR 1 cr – 100 cr for FY 2022.
7. ICICI Securities Limited
ICICI is a financial services company based in India.
I-Sec is an ICICI Bank Ltd subsidiary that specializes in integrated securities.
They offer consulting services to:
- Financial institutions
- Companies
- Retail investors
ICICI provides services that include:
- Private wealth management
- Retail broking
- Institutional broking
- The placement of initial public offerings (IPO)
ICICI Securities Ltd revenue hiked 74.47% from the same period last year to ₹1,544.44Cr in the Q4 2023-2024.
8. Veda Corporate Advisors
Veda Corporate Advisors is a consulting firm.
They offer support to their clients by:
- Mergers and acquisitions
- Private Equity
- Buyouts
- Venture capital
- Joint ventures.
The company’s authorized share capital is Rs. 250,000, with a paid-up capital of Rs. 134,420.
9. Goldman Sachs
Headquartered in New York City, Goldman Sachs is an investment banking company with a strong presence in India.
They offer services that support:
- Securities services
- Global markets
- Research management
- Wealth management
For the first quarter ending March 31, 2024, The Goldman Sachs Group, Inc. (NYSE: GS) reported net revenues of $14.21 billion and net earnings of $4.13 billion.
10. Morgan Stanley
With bases in Mumbai and Bengaluru and headquarters in New York, Morgan Stanley offers prestigious investment options to high-end investors in India. Morgan Stanley operates in 36 countries.
They provide services to help businesses, individuals, and institutions:
- Build wealth
- Preserve wealth
- Manage wealth
This allows clients to pursue their financial goals with ease.
For the first quarter of 2024, Morgan Stanley reported:
- Revenue: $15.1 billion (up 6% from 1Q 2023)
- Profit margin: 22% (up from 20% in 1Q 2023)
Morgan Stanley forecasts a 6.8% growth in 2024, slightly below the 7% forecast as predicted by RBI.
Top 3 Investment Apps India For You
Investing was never easy before, thanks to the rise of user-friendly investment apps.
These apps make it simple to:
- Manage your finances
- Invest in stocks
- Grow your wealth right from your smartphone.
Whether you’re a seasoned investor or just starting, the right app can provide valuable tools and insights to help you achieve your financial goals.
Here’s a list of the Top 3 Investment Apps to help you in your financial journey.
- Zerodha Kite
- Groww App
- Paytm Money
Conclusion
To conclude, the top 10 investment banking companies in India offer a wide range of financial services, from raising capital to providing strategic advice.
Understanding these firms is crucial for you, especially if you aspire to be an investment banker.
You can also check out the 60% scholarships we offer on our Investment Banking Course.
Check out this page for all the scholarship details.
Finally, with their expertise and innovation, these investment banks drive economic growth and contribute to the nation’s growth.
They play a key role as they help evolve India’s financial landscape, by providing capital and advice.
As you move forward, let your move continue to shape India’s financial destiny.
With every financial decision you make, let it be a step towards creating opportunities for growth and success collectively as a nation.
