Ashika Group, a diversified financial services group with a strong presence across capital markets and advisory services, has announced the amalgamation of the Equity Capital Markets (ECM) business of Mahaveera Capital Advisors LLP, marking a strategic step in strengthening its footprint in the ECM space.

This brings further strength to the existing ECM capabilities and client relationships of Ashika Group’s well-established platform, distribution network and execution expertise. As part of the transaction, Rajat Baid, Founding Partner, at Mahaveera Capital Advisors LLP, with over 14 years experience in public markets, will join Ashika Capital Ltd as Director and Head – Equity Capital Markets (ECM), along with his team.

The move reinforces Ashika Group’s commitment to scaling its ECM franchise and enhancing its end-to-end offerings across equity capital raising, capital market advisory and investor engagement.

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Commenting on the amalgamation, Chirag Jain, Director, Ashika Capital, said, “This Synergy is aligned with Ashika Group’s long-term strategic vision to build a high-quality, execution-driven ECM platform led by Rajat and his team’s deep market understanding and client-centric approach. We are looking forward to this development at a time when the equity capital markets in India continue to evolve rapidly.”

Rajat Baid, Director and Head – ECM, Ashika Group, added, “Ashika has a strong brand, robust capabilities, and a culture of long-term value creation. By integrating Mahaveera’s ECM practice into Ashika’s platform, we aim to build a differentiated franchise with sharper execution, expandaed reach and stronger client outcomes. I look forward to working with the Ashika leadership team to accelerate growth and deliver best-in-class ECM solutions.”

Ashika Capital Limited will advise clients on public equity fundraising opportunities, including IPO advisory, QIPs, rights issues and strategic capital market solutions with renewed vigor.