Key Points
- Amicus Capital drops ₹125 crore into Equirus Group.
- Federal Bank partially backs out of its investment in Equirus.
- The money will boost expansion and tech upgrades.
- Equirus is set to beef up its game in investment banking and asset management.
Looma News
Amicus Capital just invested ₹125 crore in Equirus Group, a company that owes its start to the late Rakesh Jhunjhunwala. This isn’t just about the cash; Federal Bank is also partially exiting its investment in Equirus after being in the mix for a while.
What This Means
So, what’s the game plan with this new funding? Equirus is looking to level up its operations in investment banking, insurance broking, and asset management. The cash will help them expand their capital base, ramp up tech, and improve how they run things overall. They’re also on the lookout for new talent and want to make their risk management smoother.
Looking Ahead
Mahesh Parasuraman from Amicus Capital thinks Equirus is in a sweet spot to catch the wave of India’s economic growth. Federal Bank’s Harsh Dugar is optimistic that this partnership will help Equirus grow and lead in investment banking. Ajay Garg, the managing director of Equirus, agrees, saying that insights from this new deal will be key as they work on improving client outcomes with cool tech.
Overall, this investment is a smart move that not only helps Equirus but also shows the rising confidence in India’s finance sector.
