Investment banking plays a vital role in India’s capital markets, enabling companies to raise funds, execute mergers & acquisitions (M&A), and access strategic advisory services.
India’s deal-making ecosystem has witnessed strong momentum in recent years:
• India recorded over $60 billion in M&A deal value in 2025
• Private Equity & Venture Capital investments crossed $36 billion in 2025
• Equity Capital Market (ECM) issuances touched $14.8 billion in Q1 2024 alone
This growth reflects rising corporate consolidation, startup funding, and capital market participation. In this guide, we analyze the top 10 investment banking companies in India, based on market presence, deal capabilities, sector expertise, and advisory strength.
Investment Banking Market in India – Industry Overview
India has emerged as one of the most active investment banking markets in Asia. Key growth drivers include:
• Strong IPO pipeline
• Increasing cross-border acquisitions
• Private equity participation
• Technology and BFSI sector expansion
India’s M&A market peaked in 2022, moderated in 2023–24 due to global uncertainty, and rebounded in 2025 with renewed strategic activity.
About Investment Banks in India:
Investment banks in India serve as intermediaries between corporations and investors, offering a wide range of financial services such as underwriting, corporate finance, mergers and acquisitions, and advisory services. They play a pivotal role in facilitating capital market transactions, enabling companies to raise funds through equity or debt offerings and assisting in strategic decision-making processes.
Top 10 Investment Banking Companies in India
Here’s a closer look at the top players shaping the financial landscape in India for the year.
1. FundTQ:
Founded: India
Core Services: Fundraising advisory, M&A advisory, strategic financial consulting
Client Focus: Growth-stage startups, mid-market enterprises
Sector Expertise: Technology, Consumer, Fintech
Why It Stands Out:
FundTQ specializes in capital raising and strategic M&A advisory for emerging businesses. With a strong focus on execution efficiency and investor alignment, it supports companies through end-to-end transaction management.
2. Avendus:
Core Services: M&A advisory, PE advisory, capital markets
Sector Focus: Technology, Healthcare, Consumer
Avendus is one of India’s leading financial advisory firms with strong private equity and cross-border deal experience.
3. J.P. Morgan:
J.P. Morgan is a global leader in investment banking and financial services, with a strong presence in India. Leveraging its extensive network and expertise, J.P. Morgan offers a wide array of services including mergers and acquisitions, capital raising, risk management, and asset management. Its deep industry knowledge and innovative solutions make it one of the top choices for clients seeking sophisticated financial services.
4. Axis Capital Ltd:
Axis Capital Ltd is a renowned investment bank in India, known for its expertise in equity capital markets, debt capital markets, and mergers and acquisitions. They focuses on delivering value-added services, establishing itself as a trusted partner for both corporates and investors. Its strong track record of successful transactions and commitment to excellence sets it apart in the competitive investment banking landscape.
5. Edelweiss Financial Services:
Edelweiss Financial Services is a diversified financial services firm in India, offering a wide range of services including investment banking, asset management, and insurance. With a focus on innovation and customer-centricity, Edelweiss has established itself as a prominent player in the investment banking sector. Its comprehensive suite of offerings and deep industry expertise make it a preferred choice for clients seeking tailored financial solutions.
6. JM Financial Institutions Securities:
JM Financial Institutions Securities is a leading investment banking firm in India, offering a wide range of services including equity capital markets, debt capital markets, and advisory services. They prioritizes client value, establishing a reputation for excellence and integrity within the industry through its strong focus. Its dedicated team of professionals and commitment to innovation make it a trusted partner for corporates and investors.
7. ICICI Securities Limited:
ICICI Securities is a leading investment bank in India, offering comprehensive financial services. With its strong focus on technology and innovation, has emerged as a leader in the Indian investment banking arena. With successful transactions and deep industry expertise, it’s the top choice for clients seeking strategic financial solutions.
8. IDBI Capital:
IDBI Capital prioritizes client value, earning a stellar reputation for excellence and integrity within the industry. They prioritizes client value, earning recognition for excellence and integrity, establishing a strong reputation within the industry. Its strong track record of successful transactions and commitment to innovation make it a trusted partner for corporates and investors.
9. O3 Capital Global Advisory Services:
O3 Capital Global Advisory Services is a leading investment banking firm in India, offering a wide range of services including mergers and acquisitions, private equity advisory, and debt syndication. Focused on delivering value, O3 Capital is renowned for excellence and integrity, earning trust in the industry. Its deep industry expertise and global network make it a preferred choice for clients seeking strategic financial solutions.
10. Veda Corporate Advisors:
Veda Corporate Advisors is a boutique investment banking firm in India, specializing in providing advisory services to mid-market companies. With a focus on delivering personalized solutions and value-added services, Veda Corporate Advisors has established itself as a trusted partner for businesses seeking strategic financial guidance. Its team of seasoned professionals and commitment to client success make it a preferred choice for mid-market companies in India.
Comparison of Top Investment Banks in India
Investment Banking Revenue Distribution in India
Conclusion:
Conclusion:India’s investment banking industry continues to evolve, driven by IPO momentum, cross-border M&A, and private equity inflows. Whether a company seeks capital raising, strategic acquisition, or restructuring support, choosing the right advisory partner is critical for transaction success. As deal activity strengthens in 2026, investment banks will play an even more strategic role in India’s economic expansion.
Also Explore: How to Raise Funding for Startups in India
Frequently Asked Questions
1. What does an investment bank do in India?
Investment banks help companies raise capital, manage IPOs, structure mergers and acquisitions, provide debt advisory, and offer strategic financial consulting.
2. Which is the largest investment bank operating in India?
Global banks like J.P. Morgan and major domestic players such as Axis Capital and ICICI Securities have strong market presence in India.
3. How do investment banks earn revenue?
They earn through advisory fees, underwriting commissions, deal success fees, and structured finance charges.
4. Which investment bank is suitable for startups?
Boutique advisory firms and growth-focused advisors are often preferred by startups due to specialized fundraising expertise.
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