Axis Capital
During Asiamoney’s awards period, India’s investment banking sector saw the best and the worst of times.
It began with equity and debt deals flying off the shelf. But then markets turned because of a rise in global interest rates, the emergence of new Covid-19 variants and Russia’s invasion of Ukraine. The investment banking team within Axis Bank, however, held its own by delivering results for its clients.
Axis Bank, India’s third-largest private sector lender by assets, provides investment banking services under its own umbrella, as well as through its subsidiary Axis Capital. Equity capital market, advisory, private equity syndication and structured finance services are offered through Axis Capital, while the DCM team is housed under the parent.
During the review period, the Axis Capital team – led by Chirag Negandhi and Salil Pitale, who are co-CEOs and joint managing directors – closed 53 transactions, consisting of 43 ECM deals and 10 advisory mandates.
These included: the Rp14 billion ($179 million) IPO of MedPlus Health Services, the first omni retail pharmacy chain to go public in India; the Rp10.4