See, when it comes to the money matters for high-net-worth individuals, businesses, and even governments, they often look for some specific services. And yes, we’re talking about services where they need some middleman to make sure that the deals go through smoothly, they can raise funds for their projects, or even get some financial advice, and this is precisely where the role of Investment Banking Companies comes in. On top of that, since India is quite literally a growing market for investment opportunities, no doubt there are so many companies or banks that provide investment banking services. Though, today, we’re here specifically to talk about the Top 10 Investment Banking Companies in India 2025. Here we go then.
1. JP Morgan Chase
Whenever we’re talking about investment banking right here in India, there is no way you can skip past the name of JP Morgan Chase, like, that’s not going to happen. It is one of the biggest banks in the world as well as a big presence of it is in India too, but today, we’re specifically talking about their investment banking services. You must have seen in recent times, them getting involved in the famous Bear Stearns buyout or the Exxon-Mobil merger. Talking about the context of India, well, they have their main office in Mumbai, and sure enough, it is every investment banking service that they offer here as well, along with big-ticket stuff like cross-border mergers, risk management, and raising capital for companies.
2. Goldman Sachs
Coming in at the silver position, well, who else would take the spot other than Goldman Sachs, another HUGE name on the global stage. And just in case you’re wondering, yes, they were the ones that made all the hype around Alibaba’s IPO back in 2014. And in India? Oh, well, they’re doing something super special for the startup scene of the country by operating out of Bengaluru. So far, they have gotten involved in a bunch of stuff like IPOs, private equity deals, and market strategies for fast-growing Indian firms. And if you just take a good look at their financial numbers, you’ll precisely know why we have ranked them this high today.
3. Morgan Stanley
Okay, so you must have heard some good things about that Facebook IPO thing back in 2012, right? Well, that was Morgan Stanley behind this big event in the history of modern big deals. Talking once again in the context of India, well, they’re doing super well in the tech and digital sectors, and sure enough, you expect them to have their main offices in big cities. That’s what they have in Mumbai and Bengaluru. And if you’re wondering about the services, well, they have it all like raising capital, managing mergers, and advising wealthy clients or big institutions. All that!
4. Axis Capital Limited
Axis Bank is already among the largest banks in India right now, and yes, this Axis Capital Limited actually is their investment banking arm. For those who are old customers of this company, they may already know that it used to be known as Enam Securities. That was back before Axis Bank took over. So, on this list today, it is probably the first homegrown investment banking company, and that fact alone is enough to make you trust it even more. Other than that, just know that they even pulled in over ₹475 crore in revenue in 2023, dominating the equity markets.
5. ICICI Securities
Another homegrown investment banking company? Well, yes, that is the case with ICICI Securities because it is an investment arm of the ICICI Bank, which quite literally is the 2nd largest bank in the country right now. And talking about some financial numbers, just to give you an idea of how well they’re doing, you see, with a whopping 74.47% revenue jump in the last quarter of 2023–24, they’re killing it in IPO management and wealth advisory.
6. Avendus Capital
Alrighty, how about we take a good look at Avendus Capital for a moment? In number six, this company is actually based out of Mumbai, and it is considered a boutique bank, which kinda loves working with mid-sized tech, healthcare, and consumer companies. At least that’s what we noticed so far. Though you may be hearing about them for the very first time, but the financial status of this company tells another story, like they earned ₹2,446 crore in 2022-23.
7. Edelweiss Financial Services
Oh, and in the financial scene of the country right now, without a doubt, Edelweiss is a big name, and Edelweiss Financial Services actually is their big project in the investment banking niche. Well, if you truly want a specialized investment banking company to begin with, then sure enough, Edelweiss is the pro one here. Like, financial numbers-wise, in the last quarter of 2023–24, they posted a solid ₹169.11 crore profit, and that just shows how good their performance was.
8. JM Financial
Not a lot of people know this, but Bondskart.com is actually the product of JM Financial, yet not a lot of people know fully about this company. Why? Well, they have been keeping it kinda low, you know, just doing the behind the scene work for many clients, and that is how they have been able to achieve record-breaking ₹1,276.12 crore in revenue in Q4 2023-24.
9. O3 Capital Global Advisory
Whenever you hear of O3 Capital Global Advisory in India, people often refer to it as a mid-market bank that’s about giving out quality services, and that’s all. Well, it is a pretty good complement, but in our opinion, it is kinda an underrated investment banking company, so we’d strongly advise you to give it a quick look-see.
10. IDBI Capital
Alrighy, so finishing off today’s list, we have the IDBI capital, which is known as one of the oldest established investment banking companies, and for pretty good reasons actually. Like, just a few years back, with ₹98.11 crore in income in 2022-23 and offices in 15 locations. And it is not just their reach or how well they are performing, it is about their services as well which include underwriting, debt placement, and corporate advisory.
Conclusion
There you have it. These are by far the biggest and best investment banking companies right here in the country, and if you look at the stats of these companies, you’ll realize how fast they are growing and performing right here in India. So, that is pretty much it for now.
