MUMBAI (Reuters) – Nomura Holdings (8604.T) has appointed Mahesh Natarajan to head its equity capital markets business in India, two sources with direct knowledge of the matter told Reuters on Tuesday. Told. We are facing a turbulent situation.
Sources say Natarajan will join the Indian arm of the Japanese company in the coming months, but his name has not been disclosed as the hiring decision has not been made public.
According to his LinkedIn profile, Natarajan now leads equity capital markets (including initial public offerings and block trades) for Nomura’s domestic rival ICICI Securities, where he has been with the company for nearly 17 years. He previously worked at Morgan Stanley.
He succeeds Mangesh Gogre, who until last month led Nomura’s equity capital markets business in India.
Neither Nomura nor Natarajan immediately responded to requests for comment. An ICICI spokeswoman declined to comment.
Indian companies raised $19.4 billion from the equity capital market in 2022, according to Refinitiv data. That was down 45% year-on-year amid a rising interest rate environment and heightened valuation concerns.
Nomura has participated in approximately $830 million worth of stock trading in India, ranking 10th in 2022, 42% higher than the previous year, according to Refinitiv data.
Natarajan has participated in over 100 transactions over the years, including the initial public offering of Adani Wilmar (ADAW.NS), KKR-backed lender Five Star Business Finance and the National Life Insurance Corporation of India (LIFI.NS). Last year was the largest in India’s history.
Reported by M. Sriram. Edited by Aditya Kalra and Dhanya Ann Thoppil
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