IN 2019, US banking major Bank of America (BofA), which has its India head office in Mumbai, decided to commence its investment banking practice in Bengaluru, India’s unicorn hub. Since then, BofA has doubled the strength of its investment banking team in Bengaluru as it eyes a bigger slice of the start-up space. This comes at a time when the volatile stock markets have played spoilsport in many a unicorn’s journey of going public and the ventures have been forced to go back to private equity or venture capital players. “We were the first bank to have an investment banking team in Bengaluru focussed on the unicorn space. We believe it is important to be present in an ecosystem that is enabling the rise of new-age companies,” says Kaku Nakhate, President & India Country Head, BofA.
Not far from BofA’s office in Mumbai’s BKC is the office of another US banking major, JPMorgan Chase Bank India, that has been steadily expanding its commercial banking practice. The aim is to serve local mid-cap companies while making huge investments in the payments and transaction banking vertical to help digitise its MNC and e-commerce clients to better manage their cross-border flows, among other things.
Esta historia es de la edición October 30, 2022 de Business Today India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición October 30, 2022 de Business Today India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
"IF ANYONE WANTS TO INVEST, COME TO HYDERABAD"
Telangana CM Revanth Reddy's global ambitions, AI, green energy, and how Hyderabad is positioning itself as a premier business and innovation hub
Where Food Meets Magic
THE FOOD AT THE ROCA BROTHERS' RESTAURANT IN GIRONA TRANSCENDS THE ORDINARY TO BECOME PURE MAGIC
"INDIA SHOULD CONSIDER LAND POOLING MODEL"
Andhra Pradesh (AP) minister Nara Lokesh talks about what governments can learn from the state about overcoming the land availability challenge
Breaking Barriers: The Extraordinary Journey of Pulkit Prakash
In an era where success often seems predetermined by privilege, Pulkit Prakash's journey from modest beginnings to legal eminence challenges conventional narratives. His remarkable transformation into the founding partner of Niti Bodh, a prestigious law firm, demonstrates how unwavering determination can reshape destinies.
"Keep the company's imperatives in mind first"
Westlife Foodworld Limited is a fast food restaurant holding company
Beyond the Scalpel: How Dr. Unmesh Takalkar Revolutionized Healthcare in Central Maharashtra
In an era where medical excellence often leads to overseas opportunities, one doctor chose a different path - transforming his homeland's healthcare landscape instead of seeking personal fortune abroad. Dr. Unmesh Vidyadhar Takalkar's journey from a bright medical student to a pioneering healthcare visionary in Marathwada stands as a testament to the power of purpose-driven leadership.
"Fils WILL MAKE A COMEBACK, MAYBE THIS YEAR"
Veteran investor Madhusudan Kela, Founder of MK Ventures, on Union Budget 2025-26, the future trajectory of the market, the Indian economy and more
"TAX CUT TO PUT MONEY INTO PEOPLES' HANDS"
Tuhin Kanta Pandey, Finance and Revenue Secretary, and Arunish Chawla, Secretary of DIPAM, explain the macro philosophy of the Budget
A BONANZA FOR THE MIDDLE CLASS
THE GOVERNMENT INCREASED THE TAX EXEMPTION LIMIT TO 12 LAKH AND REVISED RATES LOWER UNDER THE NEW TAX REGIME IN THE BUDGET FOR FY26. WITH A NEW INCOME TAX BILL ON THE WAY, WHAT DO THE MEASURES MEAN FOR TAXPAYERS?
Expect Private Investment Cycle To Pick Up
The government's budgetary strategy focusses on modification and moderation, a fine balance between the long term and the short term
