Private equity firm Amicus Capital has invested ₹125 crore in Equirus Group, a financial services firm previously backed by the late Rakesh Jhunjunwala. The investment, comprising a combination of primary and secondary purchase of shares, marks a significant infusion of capital into Equirus. Federal Bank, which held a stake in the company, partially exited as part of the deal. This strategic investment aims to fuel Equirus' expansion across various verticals, including investment banking, asset management, and technology-driven services. With a new cadre of influential investors onboard, Equirus is poised to leverage the India-growth narrative.

Amicus Capital’s Strategic Investment in Equirus

Investment Details: On Friday, Amicus Capital announced an investment of ₹125 crore in Equirus Group. This infusion represents a combination of primary and secondary share purchases, with Federal Bank partially exiting its stake in the process.

Notable Investors: Alongside Amicus Capital, the new investors include prominent figures such as Kishor Patil, Ajai Kumar, N Sivaraman, and several others, underscoring the confidence in Equirus’ business model and future prospects.

Equirus Group’s Diverse Service Offerings

Backed by Rakesh Jhunjunwala from the Start: Equirus Group, established with the backing of legendary investor Rakesh Jhunjunwala, operates across a broad spectrum of financial services. Its offerings include investment banking, insurance broking, and asset management services, providing clients with end-to-end solutions for wealth creation and corporate growth.

Capital Deployment Plans: The funds raised through this investment will be deployed across several critical areas, including capital expansion, technology investments, operational improvements, risk management, and talent acquisition. This comprehensive approach aims to fortify the company’s position in a rapidly evolving financial landscape.

Positioning for India’s Growth Story

Advantageous Positioning: Mahesh Parasuraman, partner and co-founder of Amicus Capital Partners, emphasized that Equirus is strategically positioned to benefit from the ongoing India-growth narrative. The platform offers life cycle solutions that support corporates and their stakeholders throughout their journey of growth and wealth creation.

Capital and Strategic Insights: This capital infusion is expected to provide Equirus with not just the financial resources but also strategic guidance and access to new networks, setting the stage for its next phase of growth.

Federal Bank’s Partial Exit and Growth Outlook

Federal Bank's Exit: With this investment, Federal Bank made a partial exit from its stake in Equirus, signaling a shift in the company’s ownership structure. Despite the exit, Federal Bank remains optimistic about the future growth trajectory of Equirus.

Harsh Dugar, executive director at Federal Bank, noted that the partnership would provide the financial services firm with fresh capital and strategic insights to fuel its expansion.

Equirus Group’s Vision for the Future

Strengthening Leadership in Investment Banking: Ajay Garg, managing director of Equirus Group, expressed optimism about the partnership with Amicus Capital. He highlighted that the new investment would help the company expand its leadership in investment banking, deepen its presence in wealth and asset management, and leverage technology for enhanced client outcomes.

Operational Enhancements: The fresh capital will also enable Equirus to implement operational improvements and enhance its risk management framework, providing a robust foundation for future growth.

Strategic Implications

Amicus Capital’s ₹125 crore investment in Equirus Group underscores the firm’s confidence in the India growth story and Equirus’ role within it. By combining financial support with strategic insights, the partnership is poised to accelerate Equirus’ expansion across investment banking, asset management, and technology integration. With a robust capital base, a strong roster of investors, and a clear vision for growth, Equirus Group is well-positioned to become a leading player in India’s financial services sector.