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SBI Caps appoints new head of equity capital markets business

VCCircle

VCCircle · 4m ago

SBI Caps appoints new head of equity capital markets business

SBI Capital Markets has appointed Amrendra Singh as the head of its equity capital markets (ECM) division. Singh, now Senior Vice-President and Group Head of ECM, succeeds Deepak Kaushik, who will handle SBI’s East Asia operations in Hong Kong. Singh, a chartered financial analyst with over two decades at SBI, previously managed asset-liability at the bank. SBI Caps provides investment banking services and has facilitated significant capital raises through major IPOs and offerings in India.

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Carlyle-backed Varmora eyes funding; Axis Cap appoints new ECM head

VCCircle

VCCircle · 1y ago

Carlyle-backed Varmora eyes funding; Axis Cap appoints new ECM head

Sanitaryware manufacturer Varmora Granito, backed by Carlyle Group, aims to raise $100-150 million in a pre-IPO funding round, valuing the company at around $600 million. The fundraising will involve primary and secondary investments from private equity investors, with significant interest from GIC and other funds. Meanwhile, Axis Capital has appointed a new Head of Equity Capital Markets (ECM) to strengthen and expand its ECM business.

Vedanta plans a demerger; banks are thinking of debt

Livemint

Livemint · 1y ago

Vedanta plans a demerger; banks are thinking of debt

Lenders to Vedanta Ltd are concerned about the lack of clarity on how their debt will be divided among the various business units after the proposed demerger. The lead lender, State Bank of India (SBI), has appointed its subsidiary SBI Capital Markets to assess the demerger proposal and its impact on lenders. The demerger, aimed at splitting Vedanta into six separate listed companies, is expected to be completed in the coming financial year. The lenders are waiting for SBI Caps' assessment before making any decisions. Concerns have also been raised about the allocation of assets and liabilities and the credit profiles of the entities involved.

Citi appoints Thakker head of corporate bank for South and Southeast Asia

VCCircle

VCCircle · 2m ago

Citi appoints Thakker head of corporate bank for South and Southeast Asia

Citigroup has appointed Prashant Thakker as the head of its corporate bank for South and Southeast Asia, effective immediately. Thakker, who joined Citi in 2007 and currently oversees Capital Management for several regions, will now manage business strategy, financial performance, talent development, and execution across multiple Asian markets including India, Singapore, and Thailand. He will relocate to Singapore and report to global co-heads of corporate banking and the head of the Asia South Cluster.

BlackRock appoints MD for UAE, Oman, Bahrain

VCCircle

VCCircle · 1y ago

BlackRock appoints MD for UAE, Oman, Bahrain

BlackRock, the global asset manager, has appointed Mohammad Al Fahim as Managing Director and Head of the United Arab Emirates, Oman, and Bahrain. In his new role, Al Fahim will oversee BlackRock's client business and focus on delivering a diversified platform of investment solutions, including private markets capabilities. Al Fahim previously worked at Goldman Sachs, where he established the bank's office in Abu Dhabi and led their UAE business. BlackRock's move signals its commitment to expanding its presence and offerings in the region.

These 4 sectors may witness turnaround in FY25, says Union AMC's Hardick Bora

Money Control

Money Control · 1y ago

These 4 sectors may witness turnaround in FY25, says Union AMC's Hardick Bora

Hardick Bora, Co-Head Equities at Union AMC, has a positive stance on the IT sector, believing that it may be near the end of the earnings downgrade cycle. He also highlights the automobiles, industrial/capital goods, healthcare, real estate, and PSU banks sectors as ones to watch for potential business growth and valuations. Bora expects a turnaround in sectors such as information technology, retail/QSRs, chemicals, and private banks in FY25. However, he advises caution when investing in mid-caps and small-caps, suggesting a staggered investment approach. He anticipates strong corporate earnings in FY25, but notes the risks of geopolitical tensions and slower global economic growth.

Meta India appoints Arun Srinivas as managing director

Entrackr

Entrackr · 1m ago

Meta India appoints Arun Srinivas as managing director

Meta India appoints Arun Srinivas as managing director Arun Srinivas has been appointed as the managing director and head for Meta in India. Srinivas was the director and head of the ads business for Meta India since 2022. In this role, Srinivas oversaw business strategy and revenue growth for India across all Meta platforms and for all businesses. He was part of the India leadership team and focused on strategic revenue priorities such as AI, Reels, and Messaging. This comes after Meta expanded the role of its India vice president, Sandhya Devanathan, who now also leads the tech giant's Southeast Asia business. The development was announced by Meta’s Asia Pacific head, Dan Neary. According to Meta India, Srinivas will transition to his new role from July 1, 2025, and will continue to report to Sandhya Devanathan. Srinivas was previously Ola’s chief operating officer and global chief marketing officer. He left the company in 2020, a year after he joined. A former vice president at Unilever, Srinivas had joined Ola after a stint at private equity firm WestBridge Capital, where he led its investments in the consumer vertical. His appointment comes at a time when Meta and Indian authorities have locked horns over allegations of the tech firm's anti-competitive practices in the country. In November, the Competition Commission of India (CCI) fined the company over antitrust violations and restricted the popular messaging platform WhatsApp from sharing user data with other Meta-owned applications for advertising purposes for a period of five years.

AstraZeneca Pharma India appoints Vinay Sharma as business unit head

Thehindubusinessline

Thehindubusinessline · 1y ago

AstraZeneca Pharma India appoints Vinay Sharma as business unit head

AstraZeneca Pharma India has appointed Vinay Sharma as the Business Unit Head of Rare Disease, starting from July 1, 2024. Currently serving as the business unit head of Respiratory and Immunology for the Philippines, Sharma brings 23+ years of industry experience to his new role. He initially joined AstraZeneca India in 2013 as the Marketing Manager of Diabetes and has since held various leadership roles. Sharma played a key role in the launch of Forxiga in India. AstraZeneca Pharma India shares closed 1.37% higher at ₹5,100 on the NSE.

HSBC names Chito Jeyarajah Asia head of investment banking

VCCircle

VCCircle · 4m ago

HSBC names Chito Jeyarajah Asia head of investment banking

HSBC has appointed Chito Jeyarajah as the head of investment banking in Asia, effective April 1. Jeyarajah, previously the head of equity capital markets (ECM) for Asia Pacific at HSBC, joined the bank in 2017 from Goldman Sachs. This move is part of HSBC's broader restructuring of its investment banking operations, which includes consolidating divisions and cutting costs following recent leadership changes in its global team.

Sensex, Nifty log weekly gains on ceasefire with Pakistan, US deal hopes

VCCircle

VCCircle · 2m ago

Sensex, Nifty log weekly gains on ceasefire with Pakistan, US deal hopes

India's benchmark equity indexes, Sensex and Nifty, showed weekly gains as a ceasefire with Pakistan and hopeful U.S. trade deals boosted investor sentiment. Nifty rose by 4.21%, and BSE Sensex increased by 3.62%, although both fell by 0.2% daily due to IT stock pullbacks. Market optimism was driven by easing military tensions, promising India-U.S. trade negotiations, and declining domestic inflation. Broader markets, led by small-caps and mid-caps, recorded significant advances, indicating positive market trends ahead.

Warburg Pincus names Vishal Mahadevia as Asia head

Livemint

Livemint · 1y ago

Warburg Pincus names Vishal Mahadevia as Asia head

Private equity firm Warburg Pincus has announced the appointment of Vishal Mahadevia as the new head of Asia private equity. Mahadevia, who has been with the firm for 17 years, will transition from his role as head of India. Narendra Ostawal has been appointed as the new head of India, while Anish Saraf and Viraj Sawhney will take on expanded roles. The firm has also made promotions in Singapore and China as part of its focus on cross-border business services and industrials. Warburg Pincus recently closed its latest fund, raising $17.3 billion.

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