HSBC Securities and Capital Markets India has named Nirvaer Sidhu and Ranvir Davda as the firm's two new co-heads of investment banking, in a bid to bolster its M&A advisory and equity capital market deal verticals, multiple industry sources in the know told Moneycontrol on the condition of anonymity.
An internal announcement on the twin appointments was made earlier this week.
Currently, Amitabh Malhotra is the Head of Global Banking, India while Sandeep Pahwa is the Head of Investment Banking, Southeast Asia and Australia and as per the internal announcement, Sidhu and Davda will report to both the former gentlemen, sources added.
Moneycontrol has sent an email query and could not elicit an immediate comment from HSBC Securities and Capital Markets. This article will be updated as soon as we hear from the firm.
According to his LinkedIn profile, Sidhu was previously a Managing Director and has spent 10 years and five months at the firm. Earlier, he had stints of five years and six years at Goldman Sachs and JPMorgan Chase, respectively. Davda, also a Managing Director earlier, has spent 13 years and a month at the firm. Prior to HSBC, he had a stint of three years and four months at ICICI Securities, as per his LinkedIn profile.
In recent M&A, HSBC advised Robert Bosch Gmbh on their open offer for Johnson Controls-Hitachi Air Conditioning India Ltd, Mubadala's acquisition of a minority stake in Cube Highways Trust and L&T on its stake sale in L&T IDPL. The firm is advising on the IPOs of Hyundai Motor India, Ventive Hospitality (Blackstone-Panchshil Realty JV) and Aether Energy and acted on the recent Samvardhana Motherson QIP.
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