Ambit Corporate Finance announces the recruitment of a team of professionals under the leadership of Premal Doshi into its ECM business to strengthen its ECM practice further. The practice continues to remain under Ambit's flagship Corporate Finance business and Premal will report into Sanjay Sakhuja, CEO - Ambit Corporate Finance. -- Ambit Corporate Finance announces the recruitment of a team of professionals under the leadership of Premal Doshi into its ECM business to strengthen its ECM practice further. The practice continues to remain under Ambit's flagship Corporate Finance business and Premal will report into Sanjay Sakhuja, CEO - Ambit Corporate Finance.
Premal has over 20 years of experience, and joins Ambit from Antique Capital Markets Pvt Limited. Prior to Antique he was with Motilal Oswal Investment, Anand Rathi Securities, Lazard and J P Morgan. While at Antique Capital, he set up Antique ECM business from scratch. He also played a key role in getting the SEBI merchant banking license for the organization. He has handled IPO's and QIP's for various companies during his stint there, some of the well known ones being IPO's for DEN Network, TD Power systems and QIP's for Opto Circuits, Diamond Power, NW 18, SKNL, etc.
Premal is a Chartered Accountant and a Cost Accountant by qualification.
On the team's recruitment, Sanjay Sakhuja comments: "We are determined to extend our success in M&A Advisory into the ECM business. With Premal and his team joining, we would be well positioned to launch an IPO/QIP offering during the next wave of fund-raising in India." "
Welcoming the new energy in its ECM practice, Ambit Group CEO, Ashok Wadhwa comments: "Our decision to invest in an ECM team at this juncture reaffirms Ambit's commitment to creating a full service Investment Bank, focused on the Indian market "
Source: Press release distribution via India PRwire
Notes to Editor
About AMBIT GROUP
Ambit is a cohesive network of companies with an array of ability within the financial service spectrum, providing clients with a range of comprehensive and integrated services like mergers, acquisitions and divestitures, structured finance, public market fund raising, private equity, equities brokerage (institutional, private client) and private wealth management. The companies under the Ambit umbrella include:
- Ambit Corporate Finance
- Ambit Capital
- Institutional Equities
- Private Wealth
- Investment Advisory
- Ambit Pragma
- Ambit Finvest
Ambit Corporate Finance is the flagship company of the group. Though the firm was founded over a decade ago but has renewed focus since 2007 after being demerged from the consulting practice Ambit-RSM, and has now grown into one of the most distinctive and leading Indian Financial Services Company in India. A testimony of this fact is the consistent ranking as one of the top Investment Banks per the Bloomberg Rankings. The who's who from the Indian Business Groups and Fortune 500 form the client portfolio of Ambit Corporate Finance.
Ambit Corporate Finance offers world-class services that include mergers, acquisitions and divestitures; structured finance and public market fund raising. The M&A practice includes structuring and execution of a wide range of transactions with an emphasis on cutting-edge research and ideation, thereby creating a value proposition for clients. A collective experience of over 200+ years in the business, the team is highly acknowledged by the business and industry alike.
Capitalizing on new and fast emerging source of financing opportunities in India, Ambit Corporate Finance offers comprehensive solutions like private equity, structured financing, mezzanine financing, acquisition funding, leverage buyouts etc., with a clear focus on emerging markets for private equity funds, hedge funds, real estate funds, FIIs and global banks for equity/quasi equity investment with a medium to long term returns perspective. An experienced team backed by sector experience and regulatory knowledge attends to clients needs offering them tailor-made solutions.
As a Category 1, SEBI Registered Investment Bank, the ECM practice constantly monitors the capital markets to advise the clients on their capital needs. Institutional sentiment and appetite, regulatory environment knowledge, retail market assessment, interactions with market regulator (SEBI) form the DNA of the ECM practice. Initial Public Offerings (IPO), Qualified Institutional Placements (QIPs), Rights Offerings, FCCBs, Buy-backs, Delisting offers, Open Offers are some of the key product offerings of the Equity Capital Markets team.
The brokerage arm of Ambit, Ambit Capital offers services like securities brokerage, equity research, institutional broking, private client group, private wealth management and portfolio management services. The business is split into three major verticals - Institutional Equities, Private Wealth and Investment Advisory. Though one of the new entrants to the Ambit family, the company is a corporate member of The Bombay Stock Exchange and The National Stock Exchange of India, providing equity broking and research services, as well as marketing of equity related products. Ambit Capital's achievements include empanelment with Domestic and Foreign Institutional Investors, servicing large HNIs across equity and derivative segments and a professional team with prominent credentials.
Private Wealth began full fledged operations in the first quarter of FY10. The business is championed by an experienced team of accomplished professionals from the Wealth Management Business. Key services provided include Multi Family Office, Wealth Management Services, Estate Planning, Financial Planning, Tax Planning Strategies, Risk Management Services etc. The comprehensive product range offered will include equities, fixed income, commodities & precious metals, private equity, life & general insurance, real estate, structured products, capital-protected notes, alternative & non-correlated investments, international investments and funding (IPO finance, LAS, Promoter Funding) etc. The Private Client Group, a subset of the Private Wealth business has been successfully operating for around three years now and offering high end, value driven equities service to its set of large clients comprising of HNIs
The Ambit Group also advises the Ambit Frontier Fund, a Long-short India dedicated equity fund operating from Mauritius. The fund caters to the investment needs of global investors wanting to participate in the Indian equity markets. The Ambit Frontier Fund was launched on December 1, 2009.
Ambit Frontier Fund has recently received a USD 25 million subscription from QInvest LLC 's group entity. This subscription is towards a new Shariah compliant sub class created under the Fund.
Ambit Pragma, the private equity arm of Ambit, constantly explores future business models and makes financial and intellectual capital available to mid-level companies in India. An India dedicated private equity fund, Ambit Pragma specifically focused on offering growth capital to mid-market firms, enabling them to emerge as significant players in their respective segments. Pragma's USP is its unique offering that combines capital with real world operating experience. With a target fund size of USD 65 MN and ticket size between USD 5-10 MN, Ambit Pragma is focusing its investments to sectors like Food, Entertainment & Leisure, Healthcare & Wellness, Logistics and Infrastructure Services. The fund has already made three investments - Spear Logistics, Prasanna Bus Links and Beams Hospitals.
Ambit Finvest, registered with the Reserve bank of India (RBI) as a Non-Banking Finance Company, offers various products and services that range from IPO funding, loan against securities, promoter funding, margin funding, ESOP financing, etc.
Expanding from its core business of Investment banking into newer areas like securities brokerage, wealth management, fund management, private equity, Ambit is on its way to becoming one of the most unique and value driven firms in India.
For more information, please contact:
Priyanka Razdan (Sr. Account Executive) (L) 022-67574444