Amit Thawani to lead Nomura India i-banking, Utpal Oza steps down

Oza, Thawani and Nomura India were unavailable for an immediate comment.

Veteran dealmaker and Head of Investment Banking, Nomura India, Utpal Oza, has stepped down, multiple industry sources in the know told Moneycontrol.

“Yes, Oza has resigned and is planning to pursue alternate career options outside of i-banking,” said one of the persons above.

Incidentally, Oza, who has had a stint of over 25 years as a dealmaker was also a founding member of Nomura when it set up shop in India back in 2006.

A second person told Moneycontrol that Amit Thawani, MD and Head of India Coverage Investment Banking, Nomura would take over from Oza as the new deal spearhead for the firm.

"There will be a transition period of a few months," the second person added.

A third person confirmed the above developments.

All three people spoke to Moneycontrol on the condition of anonymity.

Oza, Thawani and Nomura India were unavailable for immediate comment.

A few key deals by Nomura India in recent years include the sale of ASK to Blackstone, the Eureka Forbes buyout by Advent, the sale of Thyrocare to PharmEasy and the IPO of Blackstone-backed Sona Comstar.

(This is a breaking story and will be updated shortly)