Federal Bank, which has played a significant role in Equirus’ growth journey since 2018, will remain a shareholder, continuing its support and involvement in the company’s future development.
FinTech BizNews Service
Mumbai, October 12, 2024: Equirus Group, a leading diversified financial services firm, is pleased to announce an investment by the private equity firm Amicus Capital and a group of other investors. Amicus Capital’s investment marks the third equity infusion in Equirus’ capital history, following Federal Bank's equity investment in 2018. Equirus is backed by Late Shri Rakesh Jhunjhunwala who invested in the company at the time of its inception. This round of ₹125 crore investment is a mix of primary and secondary investments. It enables a partial exit for Federal Bank and some individual shareholders, making way for Amicus Capital and new investors, including Kishor Patil, Dr. Ajai Kumar, N. Sivaraman, Yagnesh Dosshi, Krishna Jha, Anand Archak, Abhishek Goyal, Badri Mohapatra, Shankar Valiya, Deepak Singhal, and others.
The investment by Amicus Capital reaffirms Equirus’ ongoing commitment at being a trusted investment bank, offering top-tier results in investment banking, asset management, and insurance broking. Amicus Capital’s investment will support Equirus in areas such as capital expansion, technology investments, strategic guidance, access to new networks, talent acquisition, operational improvements, and risk management. This strategic investment is expected to open new avenues as Equirus continues to grow its Investment Banking, Institutional Equities, Wealth & Asset Management, and Insurance Broking businesses.
Federal Bank, which has played a significant role in Equirus’ growth journey since 2018, will remain a shareholder, continuing its support and involvement in the company’s future development.
“We are excited to welcome Amicus Capital to our team of investors and look forward to leveraging their expertise in the financial sector. At the same time, we are grateful for Federal Bank’s ongoing support, which has been instrumental in our journey so far. This partnership will provide us with fresh capital and insights as we pursue our vision of expanding our leadership in investment banking, deepening our presence in wealth and asset management, and leveraging technology for enhanced client outcomes,” said Mr. Ajay Garg, Managing Director of Equirus Group.
“We are delighted to join Equirus at such an exciting stage in its growth journey. The company has demonstrated tremendous growth and innovation under the guidance of Ajay Garg and Ajit Deshmukh. The Equirus platform offers life cycle solutions across the growth and wealth-creation journey of corporates and its stakeholder and is well positioned to take advantage of the India-growth story. We are confident that, together with Federal Bank, we can help Equirus achieve its full potential” said Mr. Mahesh Parasuraman, Partner & Co-Founder, Amicus Capital Partners.
“We are proud of the progress Equirus has made and look forward to continuing our support alongside Amicus Capital Partners,” said Mr. Harsh Dugar, Executive Director, Federal Bank. “We believe this new partnership will accelerate Equirus’ growth and further strengthen its leadership in financial advisory services.”
