Top 30 Investment Banking Companies in India [Actively Hiring in 2024]

Are you an aspiring investment banker looking to make your mark in the world of finance? India offers numerous opportunities for those eager to launch their careers in investment banking. In this guide, we’ll introduce you to the top investment banking companies in India, providing insights into global giants, domestic companies, and boutique firms.

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 upon their size of operartions –

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 across the country.
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 a wide range of 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 a range of 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.
10. Société Générale– The French multinational bank has a solid presence in India, offering a wide range of investment banking services including corporate finance, capital markets, and structured finance.

Given below is a table which compares the above listed International Investment banks on more factors like Services, Location, Year of establishment, Employees and notable deals-

Investment Bank Name	Key Services	Headquarters	Year of Establishment	Number of Employees (Approx.)	Notable Deals
J.P. Morgan	M&A, Capital Markets, Risk Management	New York, U.S.A	2000 (merger year)	255,000	Acquisition of Bear Stearns, 2008
Goldman Sachs	M&A, Capital Markets, Asset Management	New York, U.S.A	1869	40,500	Alibaba IPO, 2014
Morgan Stanley	M&A, Capital Markets, Wealth Management	New York, U.S.A	1935	60,000	Facebook IPO, 2012
Bank of America Merrill Lynch	M&A, Capital Markets, Wealth Management	North Carolina, U.S.A	2009 (merger year)	208,000	Acquisition of Merrill Lynch, 2009
Barclays	Financial Advisory, Equity and Debt Capital Markets, Risk Management	London, U.K	1690	83,500	Brokered the AB InBev and SABMiller merger, 2016
Credit Suisse	Financial Advisory, Capital Markets, Wealth Management	Zurich, Switzerland	1856	48,770	Involved in the IPO of Ant Group, 2020
Deutsche Bank	M&A, Capital Markets, Risk Management	Frankfurt, Germany	1870	87,000	Involved in the merger of Daimler and Chrysler, 1998
BNP Paribas	Corporate Finance, Structured Financing, Equity Capital Markets	Paris, France	1848	193,000	Major stake purchase in Fortis, 2009
UBS	M&A, Capital Market Operations, Wealth Management	Zurich, Switzerland	1862	70,000	Played a role in the Glencore and Xstrata merger, 2013
Société Générale	Corporate Finance, Capital Markets, Structured Finance	Paris, France	1864	138,000	Sale of a large stake in Rosbank, 2013

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.
10. Centrum Capital – An Indian financial services company offering a wide range of investment banking services such as corporate finance, project advisory, and capital markets.

Given below is a table which compares the above listed domestic Investment banks on more factors like Services, Location, Year of establishment, Employees and notable deals-

Investment Bank Name	Key Services	Headquarters	Year of Establishment	Number of Employees (Approx.)	Notable Deals
ICICI Securities	Equity Capital Markets, M&A, Structured Finance	Mumbai, India	1995	4,500	IPO of ICICI Prudential Life Insurance, 2016
HDFC Bank	M&A, Private Equity, Structured Finance	Mumbai, India	1994	116,971	Acquisition of Centurion Bank of Punjab, 2008
Kotak Investment Banking	M&A, Private Equity, Capital Markets	Mumbai, India	2006	1,500	IPO of Coal India Limited, 2010
Axis Capital	M&A, Private Equity, Capital Market Operations	Mumbai, India	2005	2,200	Acquisition of Enam Securities, 2010
Edelweiss Financial Services	M&A, Private Equity, Capital Market Operations	Mumbai, India	1996	10,000	IPO of Bharat Road Network Limited, 2017
JM Financial	Financial Advisory, Debt and Equity Syndication, Structured Financing	Mumbai, India	1986	1,300	IPO of ICICI Prudential Life Insurance, 2016
Motilal Oswal Investment Advisors	M&A, Private Equity, Capital Market Operations	Mumbai, India	1987	3,300	IPO of RBL Bank, 2016
YES Securities	Equity Capital Markets, Structured Finance, M&A	Mumbai, India	2012	1,000	IPO of Mahanagar Gas, 2016
IIFL Investment Banking	M&A, Private Equity, Capital Market Services	Mumbai, India	1995	13,500	IPO of Bharat Road Network Limited, 2017
Centrum Capital	Corporate Finance, Project Advisory, Capital Markets	Mumbai, India	1977	1,600	IPO of Bharat Road Network 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
10. Inga Capital – An Indian boutique investment bank with a focus on areas like mergers and acquisitions, private equity, and corporate advisory services.

Given below is a table which compares the above listed boutique Investment banks on more factors like Services, Location, Year of establishment, Employees and notable deals-

Investment Bank Name	Key Services	Headquarters	Year of Establishment	Number of Employees (Approx.)	Notable Deals
Avendus Capital	M&A, Private Equity, Wealth Management	Mumbai, India	1999	300	Acquisition of Appirio by Wipro, 2016
o3 Capital	M&A, Private Equity, Corporate Advisory	Mumbai, India	2007	50	Sale of Hoopla to Hershey’s, 2018
Spark Capital	M&A, Private Equity, Capital Markets	Chennai, India	2001	120	IPO of La Opala RG, 2009
Equirus Capital	M&A, Private Equity, Capital Markets	Mumbai, India	2007	150	IPO of AU Small Finance Bank, 2017
SBI Capital Markets	M&A, Project Advisory, Debt Syndication	Mumbai, India	1986	200	Financial Advisor for disinvestment of HPCL, 2003
Ambit Corporate Finance	M&A, Private Equity, Restructuring	Mumbai, India	1997	200	Acquisition of Haldia Petrochemicals, 2014
Mape Advisory Group	M&A, Private Equity, Capital Markets	Bangalore, India	2001	50	Sale of Minacs to Concentrix, 2016
Signal Hill	M&A, Private Equity, Corporate Advisory	Baltimore, USA	2002	150	Sale of Appirio to Wipro, 2016
Unitus Capital	Impact Investing, M&A, Capital Markets	Bangalore, India	2008	40	IPO of Ujjivan Financial Services, 2016
Inga Capital	M&A, Private Equity, Capital Markets	Mumbai, India	2007	20	Acquisition of stake in Essar Oil by Rosneft, 2016

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 or FRM.

For a detailed guide for landing a Job in a top Investment bank, refer to the blog – How to become an Investment Banker in India.

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.

Keep honing your skills and networking within the industry, and you’ll be well on your way to a successful career in investment banking.

Frequently Asked Questions