NIFTY 50 22,872.50 Down stock -72.80 (-0.32%)
NIFTY 100 23,295.65 Down stock -35.75 (-0.15%)
NIFTY 500 20,652.95 up stock 41.55 (0.20%)
NIFTY MIDCAP 50 14,076.70 up stock 79.95 (0.57%)
INDIA VIX 15.64 Down stock -0.03 (-0.19%)
NIFTY MIDCAP 150 18,535.50 up stock 159.65 (0.87%)
NIFTY SMALLCAP 50 7,469.70 up stock 123.70 (1.68%)
NIFTY BANK 49,309.05 up stock 221.75 (0.45%)
NIFTY AUTO 21,738.55 Down stock -80.35 (-0.37%)
NIFTY FMCG 52,292.15 Down stock -188.35 (-0.36%)
NIFTY IT 40,850.15 Down stock -614.20 (-1.48%)
NIFTY MEDIA 1,487.05 up stock 14.40 (0.98%)
NIFTY METAL 8,320.05 up stock 64.45 (0.78%)
NIFTY PHARMA 20,744.50 Down stock -224.70 (-1.07%)
NIFTY PRIVATE BANK 24,644.95 up stock 144.35 (0.59%)
NIFTY REALTY 842.25 up stock 10.20 (1.23%)
NIFTY OIL & GAS 10,012.15 up stock 40.10 (0.40%)
NIFTY COMMODITIES 7,809.05 up stock 27.20 (0.35%)
NIFTY ENERGY 31,076.65 up stock 227.60 (0.74%)
LEADMINI 188 up stock 0.20 (0.11%)
ZINCMINI 261.25 up stock 0.25 (0.1%)
SILVERMIC 89730 up stock 72.00 (0.08%)
GOLDGUINEA 59188 up stock 50.00 (0.08%)
GOLDM 72900 up stock 28.00 (0.04%)
COTTONCNDY 56540 up stock 20.00 (0.04%)
SILVER 89675 up stock 29.00 (0.03%)
CRUDEOIL 6609 Down stock -237.00 (-3.46%)
NATURALGAS 177.5 Down stock -0.30 (-0.17%)
NATGASMINI 177.5 Down stock -0.30 (-0.17%)
MENTHAOIL 942.2 Down stock -1.20 (-0.13%)
ZINC 260.7 Down stock -0.25 (-0.1%)
ALUMINIUM 220.5 Down stock -0.20 (-0.09%)
LEAD 187 Down stock -0.10 (-0.05%)
NIFTY 50 22,872.50 Down stock -72.80 (-0.32%)
NIFTY 100 23,295.65 Down stock -35.75 (-0.15%)
NIFTY 500 20,652.95 up stock 41.55 (0.20%)
NIFTY MIDCAP 50 14,076.70 up stock 79.95 (0.57%)
INDIA VIX 15.64 Down stock -0.03 (-0.19%)
NIFTY MIDCAP 150 18,535.50 up stock 159.65 (0.87%)
NIFTY SMALLCAP 50 7,469.70 up stock 123.70 (1.68%)
NIFTY BANK 49,309.05 up stock 221.75 (0.45%)
NIFTY AUTO 21,738.55 Down stock -80.35 (-0.37%)
NIFTY FMCG 52,292.15 Down stock -188.35 (-0.36%)
NIFTY IT 40,850.15 Down stock -614.20 (-1.48%)
NIFTY MEDIA 1,487.05 up stock 14.40 (0.98%)
NIFTY METAL 8,320.05 up stock 64.45 (0.78%)
NIFTY PHARMA 20,744.50 Down stock -224.70 (-1.07%)
NIFTY PRIVATE BANK 24,644.95 up stock 144.35 (0.59%)
NIFTY REALTY 842.25 up stock 10.20 (1.23%)
NIFTY OIL & GAS 10,012.15 up stock 40.10 (0.40%)
NIFTY COMMODITIES 7,809.05 up stock 27.20 (0.35%)
NIFTY ENERGY 31,076.65 up stock 227.60 (0.74%)
LEADMINI 188 up stock 0.20 (0.11%)
ZINCMINI 261.25 up stock 0.25 (0.1%)
SILVERMIC 89730 up stock 72.00 (0.08%)
GOLDGUINEA 59188 up stock 50.00 (0.08%)
GOLDM 72900 up stock 28.00 (0.04%)
COTTONCNDY 56540 up stock 20.00 (0.04%)
SILVER 89675 up stock 29.00 (0.03%)
CRUDEOIL 6609 Down stock -237.00 (-3.46%)
NATURALGAS 177.5 Down stock -0.30 (-0.17%)
NATGASMINI 177.5 Down stock -0.30 (-0.17%)
MENTHAOIL 942.2 Down stock -1.20 (-0.13%)
ZINC 260.7 Down stock -0.25 (-0.1%)
ALUMINIUM 220.5 Down stock -0.20 (-0.09%)
LEAD 187 Down stock -0.10 (-0.05%)

Updated 19:08 IST, January 27th 2025

JPMorgan Appoints New Co-Heads for India Investment Banking As Navin Wadhwani Quits - Details

Maheshwari and Shankar will report to Paul Uren, head of investment banking for Asia Pacific, and Kaustubh Kulkarni

Reported by: Business Desk
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JP Morgan upgrades India’s rating
JP Morgan | Image: JP Morgan

JPMorgan Chase & Co. has promoted Nitin Maheshwari and Ravi Shankar as co-heads of investment banking in India, following the exit of Navin Wadhwani, the former head of the division. This move comes as the U.S. bank seeks to strengthen its position in India, a rapidly growing market for investment banking.

According to a memo seen by Bloomberg News, which was confirmed by a JPMorgan spokesperson, Maheshwari and Shankar will take over the responsibilities previously held by Wadhwani, who recently left the firm to pursue other opportunities. Maheshwari was until now the head of mergers and acquisitions (M&A) and financial sponsors for India, while Shankar headed the technology, media, and telecommunications (TMT) sectors, as well as consumer and retail in the country. Both executives will now jointly lead JPMorgan’s investment banking operations in India.

Maheshwari and Shankar will report to Paul Uren, head of investment banking for Asia Pacific, and Kaustubh Kulkarni, JPMorgan’s senior country officer for India. Maheshwari will also continue to report to Rohit Chatterji, head of M&A for the Asia Pacific region.

Wadhwani joined JPMorgan in 2022, after previously heading M&A for Reliance Industries Ltd., where he worked with Mukesh Ambani, Asia’s wealthiest individual. His departure comes as India continues to see a surge in investment banking activity, particularly in initial public offerings (IPOs). In 2024, India raised over $20 billion from share sales, including the country’s largest-ever IPO, where Hyundai Motor Co.’s local unit raised $3.3 billion.
 

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Published 19:08 IST, January 27th 2025