In a significant development, financial services firm Equirus Group has secured an investment of Rs 125 crore from Amicus Capital and a consortium of investors. This funding includes a mix of primary and secondary investments, as announced by the company.
The investment marks the third equity infusion into Equirus Group, a firm once backed by the late Rakesh Jhunjhunwala. The previous major investment came from Federal Bank in 2018. This fresh infusion will allow Federal Bank and several individual shareholders to partially exit the company, paving the way for Amicus Capital and other notable investors to step in.
Among the new investors are renowned names such as Kishor Patil, Ajai Kumar, N. Sivaraman, Yagnesh Dosshi, Krishna Jha, Anand Archak, Abhishek Goyal, Badri Mohapatra, Shankar Valiya, and Deepak Singhal.
According to the company, this strategic investment is poised to drive Equirus Group’s expansion across its various business verticals, including investment banking, institutional equities, wealth & asset management, and insurance broking.
While Federal Bank is reducing its stake, it will remain a shareholder and continue to play a supportive role in the company’s future growth.
Ajay Garg, managing director of Equirus Group, expressed his enthusiasm for the new partnership: “We are excited to welcome Amicus Capital as part of our investor group and look forward to utilizing their deep expertise in the financial sector. We also thank Federal Bank for their ongoing support, which has been instrumental in shaping our journey thus far.”
This investment marks another milestone for Equirus Group as it strengthens its position in the financial services space and sets the stage for future growth.
