Exclusive: Former ICICI Securities equity markets head joins Centrum

 Exclusive: Former ICICI Securities equity markets head joins Centrum

Investment banker Pranjal Srivastava, who previously led the equity capital markets vertical at ICICI Securities, has joined financial services firm Centrum Group, a person with direct knowledge of the matter told The Capital Quest.

Srivastava has joined as partner-investment banking at Centrum Capital, the person said. He is based in Mumbai and will be responsible for deals origination in the equity capital markets vertical.

Srivastava will closely work with Rajendra Naik, managing director and head of I-banking at Centrum, the person cited above said.

Centrum Capital houses the investment banking, equity capital markets, debt capital markets and infrastructure advisory businesses of Centrum Group.

A spokesperson for Centrum Group confirmed Srivastava’s appointment.

Centrum Capital’s investment banking division provides financial advice and execution of deals to institutions, entrepreneurs and investors. Its practice areas span private placements of equity, capital raising in public markets, mezzanine and convertible instruments, to debt syndication, mergers and acquisitions and restructuring advisory.

Srivastava, a chartered accountant and member of the CFA Institute, quit ICICI Securities in August 2018. He last served as senior vice president and head of ECM, and has more than two decades of experience in capital markets, corporate finance and investment banking.

At ICICI Securities, he originated and executed nearly 300 capital market transactions, and was instrumental in building the capital markets practice for the Mumbai-headquartered company.

People movement

Of late, there have been several high-profile exits and appointments in the capital markets, merchant banking, investment banking segments, and the alternative investments space.

Two months ago, Sanjiv Saraff, an investment banking veteran who also worked for ICICI Securities for nearly two decades, quit the firm to join state-run lender Bank of Baroda’s investment banking unit.

Last month, India’s quasi-sovereign fund National Investment and Infrastructure Fund (NIIF) beefed up its investment team by hiring Padmanabh (Paddy) Sinha, former managing partner at Tata Opportunities Fund, one of the private equity funds run by the Tata Group.

In February, Piramal Enterprises Ltd appointed Kalpesh Kikani, a former co-head of special situations investment firm AION Capital, to head its $1.5 billion alternative investment arm.

*This article has been updated with a comment from a Centrum Group spokesperson.

The Capital Quest