Nomura hires top ICICI banker to head India ECM business - sources

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Nomura Holdings has tapped Mahesh Natarajan to head its equity capital markets business in India, two sources with direct knowledge told Reuters on Tuesday, a top-level investment banking hire that comes when dealmaking is going through a turbulent phase.

MUMBAI, Jan 24 - Nomura Holdings

Natarajan is due to join the Japanese firm's Indian unit in the coming months, the sources said, declining to be named as the hiring decision is not public. He replaces Mangesh Ghogre, who headed Nomura's equity capital market business in India until last month. Data from Refinitiv showed Indian companies raised $19.4 billion from equity capital markets in 2022, down 45% from the previous year, amid a rising interest rate environment and growing concerns over valuations.

 

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