Investment Banking in India (2024)

Learn all about the investment banking industry in India - who the top banks are, and what the best opportunities are.

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The history of investment banking in India traces back to when European merchant banks first established trading houses in the region in the 19th century. Since then, foreign banks (non-Indian) have dominated investment and merchant banking activities in the country.

In the 1970s, the State bank of India entered the business by creating the Bureau of Merchant Banking and ICICI Securities became the first Indian financial institution to offer merchant banking services.

By 1980, the number of merchant banks had risen to more than 30. This growth in the financial services industry included the rapid expansion of commercial banks and other financial institutions.

Investment Banking in India (1)

Association of Investment Bankers of India

According to the Association of Investment Bankers of India (AIBI), the merchant banking industry started to take off in the 1990s with over 1,500 merchant bankers registering with the Securities and Exchange Board of India (SEBI). To regulate and govern the new wave of banks that opened up, the Association of Investment Bankers of India (AIBI) was created to ensure members were in compliance with banking regulations and that their activities were kept in check.

AIBI’s purpose is to ensure members institutions follow its ethical and legal practices, as well as to promote the industry of investment banking in India and the business interests of its members.

Investment Banking in India – List of AIBI Member Investment Banks:

  • A.K. Capital Services Ltd.
  • Ambit Corporate Finance Pvt. Ltd.
  • Anand Rathi Advisors Ltd.
  • Ashika Capital Ltd.
  • Avendus Capital Pvt.Ltd.
  • Axis Bank Ltd.
  • Axis Capital Ltd.
  • Barclays Bank Plc
  • Bcb Brokerage Pvt.Ltd.
  • Birla Capital & Financial Services Ltd.
  • Bnp Paribas
  • Bob Capital Markets Ltd.
  • Boi Merchant Bankers Ltd.
  • Canara Bank
  • Central Bank Of India
  • Centrum Capital Ltd.
  • Chartered Finance Management Ltd.
  • Choice Capital Advisors Pvt.Ltd.
  • Citigroup Global Markets India Pvt.Ltd.
  • Credit Suisse Securities (India) Pvt.Ltd.
  • Deutsche Equities India Pvt.Ltd.
  • DSP Merrill Lynch Ltd.
  • Edelweiss Financial Services Ltd.
  • Ernst & Young Merchant Banking Services Pvt.Ltd.
  • HDFC Bank Ltd.
  • HSBC Securities & Capital Markets (India) Pvt.Ltd.
  • ICICI Securities Ltd.
  • IDBI Capital Market Services Ltd.
  • IDFC Securities Ltd.
  • LIFL Holdings Ltd.
  • Il&Fs Capital Advisors Ltd.
  • Indian Overseas Bank
  • Inga Capital Pvt.Ltd.
  • Jefferies India Pvt.Ltd.
  • JM Financial Institutional Securities Ltd.
  • JP Morgan India Pvt.Ltd.
  • Karvy Investor Services Ltd.
  • Keynote Corporate Services Ltd.
  • KJMC Corporate Advisors (India) Ltd.
  • Kotak Mahindra Capital Co.Ltd.
  • Lazard India Pvt.Ltd.
  • Morgan Stanley India Co.Pvt.Ltd.
  • Motilal Oswal Investment Advisors Pvt. Ltd.
  • Munoth Financial Services Ltd.
  • Pantomath Capital Advisors Pvt.Ltd.
  • Religare Capital Markets Ltd.
  • Rothschild (India) Pvt.Ltd.
  • Saffron Capital Advisors Pvt.Ltd.
  • SBI Capital Markets Ltd.
  • SMC Capitals Ltd.
  • Trust Investment Advisors Pvt.Ltd.
  • UBS Securities India Pvt.Ltd.
  • Union Bank Of India
  • Vivro Financial Services Pvt.Ltd.
  • Yes Bank Ltd.

Investment Banking Careers inIndia

If you’re planning a career in investment banking in India, then you’ll want to read our guide on how to get a job in investment banking. If you follow these steps, you’ll be muchcloser to landing a job at a top bank.

To learn at your own pace, explore our full suite of freecareer resources and articles.

If you want to learn from the pros, check out our certifications and online courses.

Additional resources

This has been a guide to investment banking in India. To learn more about careers in investment banking and to advance your own, check out these additional resources below:

Investment Banking in India (2024)

FAQs

Is investment banking in India worth it? ›

It offers a lucrative salary and the potential to earn even higher bonuses depending on performance. The average investment banker in India earns between Rs 5 lakhs and Rs 15 lakhs per annum, while experienced professionals can easily make more than Rs 20 lakhs annually.

How hard is it to get into investment banking in India? ›

But the main problem is that winning a “true” front-office investment banking role in India is virtually impossible, even if you have outstanding academic credentials and work experience.

Why are you interested in investment banking sample answers? ›

“I'm interested in investment banking because, as a kid, my parents taught me how to invest at an early age. They first taught me the basics and would suggest different methods to help me invest my money. As I got older, that allowed me to be a part of the transactions when they were investing with small companies.

Is there a demand for investment bankers in India? ›

India offers a lot of opportunities for investment banking. It is one of the industries with the highest demand right now.

What is the salary of JP Morgan IIM? ›

J.P. Morgan

Graduates from IIM Ahmedabad can expect starting salaries in the range of INR 28 to 32 lakhs per annum.

Who earns more CA or investment banker in India? ›

The total average compensation of an Investment banker in India can go up to 12.2 lakhs per year. As one can see from the aforementioned stats on CA vs investment banker salary, an investment banker earns a little more when compared to CA's.

Why investment banking is cool? ›

Specifically, investment banking interests me because it offers the opportunity to develop substantive analytical skills, while developing a close network of colleagues. While working long hours is scary to some, to me, it is in a strange way exciting.

How do you stand out in an investment banking interview? ›

Understand the Entry-Level Job

Nothing is more offensive to an interviewer than a candidate who comes in not knowing anything about the position. Showing that you understand not only the general practices of investment banking but also your specific duties, should provide a competitive edge.

Why do you want to work at invest India? ›

I want to work at Invest India because of their reputation, opportunities for growth, and alignment with my career goals. Invest India has a strong reputation in the industry and is known for its succe... Help your peers!

Which is the No 1 investment bank in India? ›

1. Axis Bank Ltd. Axis Bank Ltd, earlier known as UTI bank, was established in 1993. It is an Indian banking and financial services company and is on the top list of the best investment banks in India.

How rich are investment bankers in India? ›

A mid-level investment banker in India can expect a base salary of 25-35 lakhs per annum with an additional annual bonus of 10-20 lakhs. Senior-level investment banking professionals can even earn a salary of 1 crore or more in India.

What is the salary of VP of investment banking in India? ›

Average Annual Salary by Experience

Vice President salary in India with less than 10 year of experience to 25 years ranges from ₹ 18.0 Lakhs to ₹ 70.0 Lakhs with an average annual salary of ₹ 40.3 Lakhs based on 1.9k latest salaries.

Do investment bankers earn a lot in India? ›

The average salary for Investment-Banker is ₹29,50,000 per year in the India. The average additional cash compensation for a Investment-Banker in the India is ₹18,50,000, with a range from ₹15,00,000 - ₹22,00,000.

Are Indian banks a good investment? ›

CLSA analysts noted that investor interest in Indian banks remains low due to weak EPS growth. In an Asia marketing meet, CLSA analysts noted that investor interest in Indian banks remains low due to weak earnings per share (EPS) growth.

What is the salary package of investment banker in India? ›

Investment Banker salary in India ranges between ₹ 2.0 Lakhs to ₹ 51.0 Lakhs with an average annual salary of ₹ 16.5 Lakhs. Salary estimates are based on 370 latest salaries received from Investment Bankers.

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