Investment Banking in India

Learn all about the investment banking industry in India - who the top banks are, and what the best opportunities are.

History of investment banking in India

The history of investment banking in India traces back to when European merchant banks first established trading houses in the region in the 19th century.  Since then the foreign banks (non-Indian) have dominated investment and merchant banking activities in the country.

In the 1970’s the State bank of India entered the business by creating the bureau of merchant banking and ICICI became the first financial institution to offer merchant banking services.

By 1980 the number of merchant banks rose to more than 30 and was set-up by commercial banks, financial institutions, and the private sector.

 

investment banking in india mumbai

 

Association of Investment Bankers of India

According to the Association of Investment Bankers of India (AIBI), the merchant banking industry started to take off in the 1990’s with over 1,500 merchant bankers registering with the Securities and Exchange Board of India (SEBI).  To regulate and govern the new wave of banks that opened up, the Association of Investment Bankers of India (AIBI) was created to ensure members were in compliance with banking regulation and that their activities were kept in check.

AIBI’s purpose is to ensure members institutions follow its ethical and legal practices, as well as to promote the industry and the business interests of its members.

 

List of AIBI investment banks:

  • A.K. Capital Services Ltd.
  • Ambit Corporate Finance Pvt.Ltd.
  • Anand Rathi Advisors Ltd.
  • Ashika Capital Ltd.
  • Avendus Capital Pvt.Ltd.
  • Axis Bank Ltd.
  • Axis Capital Ltd.
  • Barclays Bank Plc
  • Bcb Brokerage Pvt.Ltd.
  • Birla Capital & Financial Services Ltd.
  • Bnp Paribas
  • Bob Capital Markets Ltd.
  • Boi Merchant Bankers Ltd.
  • Canara Bank
  • Central Bank Of India
  • Centrum Capital Ltd.
  • Chartered Finance Management Ltd.
  • Choice Capital Advisors Pvt.Ltd.
  • Citigroup Global Markets India Pvt.Ltd.
  • Credit Suisse Securities (India) Pvt.Ltd.
  • Deutsche Equities India Pvt.Ltd.
  • DSP Merrill Lynch Ltd.
  • Edelweiss Financial Services Ltd.
  • Ernst & Young Merchant Banking Services Pvt.Ltd.
  • HDFC Bank Ltd.
  • HSBC Securities & Capital Markets (India) Pvt.Ltd.
  • ICICI Securities Ltd.
  • IDBI Capital Market Services Ltd.
  • IDFC Securities Ltd.
  • LIFL Holdings Ltd.
  • Il&Fs Capital Advisors Ltd.
  • Indian Overseas Bank
  • Inga Capital Pvt.Ltd.
  • Jefferies India Pvt.Ltd.
  • JM Financial Institutional Securities Ltd.
  • JP Morgan India Pvt.Ltd.
  • Karvy Investor Services Ltd.
  • Keynote Corporate Services Ltd.
  • KJMC Corporate Advisors (India) Ltd.
  • Kotak Mahindra Capital Co.Ltd.
  • Lazard India Pvt.Ltd.
  • Morgan Stanley India Co.Pvt.Ltd.
  • Motilal Oswal Investment Advisors Pvt. Ltd.
  • Munoth Financial Services Ltd.
  • Pantomath Capital Advisors Pvt.Ltd.
  • Religare Capital Markets Ltd.
  • Rothschild (India) Pvt.Ltd.
  • Saffron Capital Advisors Pvt.Ltd.
  • SBI Capital Markets Ltd.
  • SMC Capitals Ltd.
  • Trust Investment Advisors Pvt.Ltd.
  • UBS Securities India Pvt.Ltd.
  • Union Bank Of India
  • Vivro Financial Services Pvt.Ltd.
  • Yes Bank Ltd.

 

Investment Banking Careers in India

If you’re planning a career in India for investment banking you’ll want to read our guide on how to get a job in investment banking.  If you follow these steps you’ll be even closer to landing a job at a top bank.

To learn on your own, explore our full suite of free career resources and articles.

If you want to learn from the pros, check out our certifications and online courses.

 

Additional resources

This has been a guide to investment banking in India.  To learn more about careers in investment banking and to advance your own, check out these additional resources below: