Capital Markets

India’s #1 ECM Banker


Equity Capital Markets

Axis Capital has been India’s #1 ECM Banker over the last decade. We have the best all-round capabilities on the street with significant sector understanding, regulatory expertise, institutional marketing capabilities to both domestic and international investors and are the undisputed champions for HNI & Retail marketing. Through our unparalleled deal execution capabilities, we have executed 13 IPOs in the span of 13 weeks & 3 IPOs in 1 Week. We have repeatedly been recognized as India’s best Investment Banker in various forums and has been awarded the Best Investment Bank in India in 2017, 2016, 2015, 2013, Best ECM House in India in 2015, 2013 by Finance Asia & Best Equity Advisor in 2017 by Triple A Asset Awards.


As India’s leading Investment Banker, we assist various companies in fundraising from the equity markets while ensuring efficient delivery of services through our versatile & strong understanding of different sectors. Axis Capital has been the go-to banker for both mid & large cap deals, having successfully executed the highest number of INR 1,000 Cr + IPOs in the Indian ECM History. We have consistently outperformed our peers in procurement across different types of deals - IPO and QIP including all classes of Institutional Investors – both DIIs & FIIs.

Corporate Finance

Axis Capital is the preferred left lead banker of choice - left lead in 1 out of every 2 deals we are a part of. With a 10-member strong team, we have one of the largest Corporate Finance team on the street. Our team has experience of handling complex regulatory & compliance related matters for varied offerings including IPO, QIP, Rights, Buybacks, Offer for Sales, Open Offers & Delisting.

Primary Markets Distribution

Axis Capital is undisputedly power house for HNI & Retail Marketing. We are the leading procurers under HNI & Retail Investors with more than 95% of our IPOs. We have an active network of over 3,500 Brokers & Sub-Brokers. We also actively uses the network of Axis Group including Axis Direct, Axis Finance & Axis Bank for distribution.

  • Ashish Kumbhat
    Executive Director - Equity Capital Markets

    Ashish has more than 13 years of experience in ECM and Corporate Finance. Has worked on several large private sector and GoI transactions and has handled all the products including IPO, FPO, Right Issues, QIPs, Buybacks, Open Offers, NCDs, etc. He is an M.B.A & M.B.L from National Law University, Jodhpur (NLUJ).

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  • Anay Khare
    Managing Director - Corporate Finance

    Anay spearheads a specialized corporate finance team responsible for executing capital market products such as IPO/rights issue, IPP/OFS, M&A including open offers, buy-backs, delistings etc. Over his long and varied experience spanning over 25 years, he has worked in different functions and roles with Reliance Industries Ltd., JM Financial, Peregrine Capital, Tata Capital and currently Axis Capital. He is a Chartered Accountant and a Law graduate.

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  • Ajay Sheth
    Managing Director - Head of Retail Distribution

    Ajay has around 30 years of experience, out of which over 23 years are in capital markets and related activities with major focus on marketing and distribution of various financial products on a pan-India basis. Prior to this, he was with Capital Market Publisher Ltd as Head Database for around 6 years and was instrumental in developing Capitaline Series of Databases. He started his career as a practising Chartered Accountant and Financial Advisor.

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