Financial services firm Avendus Capital said Monday it has appointed Sumit Agarwal as managing director and head of its equity corporate finance business.
In his new role, Agarwal will lead the firm’s equity capital markets execution capabilities, Avendus said in a statement. He will report to Karan Sharma, head of investment banking at Avendus Capital.
Agarwal joins Avendus from Kotak Mahindra Capital, where he was part of the equity corporate finance leadership team. Prior to that, he was with ICICI Securities Ltd.
Avendus has seen some top-level churn over the past year since Japan’s Mizuho agreed to acquire a majority stake in the company from private equity firm KKR. It hired a former UBS executive to head its infrastructure division in April. In June, VCCirle reported that the head of its healthcare I-banking vertical, Anshul Gupta, was leaving. The same month, the firm elevated Sharma as head of its investment banking division.
Avendus said Agarwal’s appointment reinforces the firm’s ability to deliver IPO mandates as well as supports its capabilities across follow-on offerings and other capital markets transactions.
Agarwal has over 18 years of investment banking experience and has advised large corporate groups on business expansion and acquisitions. He has led more than 100 equity capital markets transactions across initial public offerings, follow-on public offerings, qualified institutional placements, InvITs and rights issues. His experience spans sectors such as e-commerce, digital technology, banking and financial services, consumer, healthcare, automobiles, hospitality, infrastructure and real estate, according to the statement.