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Investment Banking

Investment banking has matured substantially in the last 2 decades in India. The role of an investment banker has transformed in a very subtle way. The old model of investment banking was called merchant banking, where the focus was on managing IPOs and fund raising for corporates. With the advent of global best practices and strategic joint ventures between domestic companies and global players, the ground has not only matured but also become more sophisticated. Today investment banking involves a broad range of activities encompassing IPO management, debt syndication, managing ADR issues, global debt placements, venture funding, AIF fund raising, handling divestitures, managing PSU disinvestments & strategic sale, advising on mergers / acquisitions / consolidation / restructuring etc. It is in this very broad yet specialized space that Narnolia Capital is positioning itself.

Investment Banking – Narnolia’s research driven approach

The investment banking space is becoming increasingly specialized and requires very deep and granular understanding of sectors, industry groups and emerging disruptive business themes. Narnolia Capital has a specialized team of analysts and investment bankers bringing in-depth research and valuation understanding into all the principal sectors. This is the nature of specialization which is consonant with the emerging needs of investment banking. These granular sector skills are complemented by a 360o view that is provided by experts in related sectors like economists, currency strategists, commodity specialists, product structuring experts etc.

A bottom-up approach to investment banking

At Narnolia we see ourselves as enablers of the asset allocation process. Our approach to investment banking is actually based on a double bottom-up approach. It is all about bringing together long term investors and solid entrepreneurs to add value in the process. When it comes to getting entrepreneurs to the market, Narnolia plays a critical role in advising and mentoring these entrepreneurs in making them capital market ready over time. Our internal systems, processes and grass-root level understanding of clients go a long way in this process. On the other hand, we also bring our granular understanding of investors, brokers, sub-brokers and franchisees which ensures that investors are fed investment solutions as per their risk appetite. This makes the entire process a lot more ethical, fair and meaningful.

Narnolia’s mid-cap and emerging large cap franchise

Narnolia has a very strong mid-cap and emerging large cap franchise in the Indian markets. At Narnolia, it is our firm belief that the outperformance for investors will come from mid-cap companies. This is true of mid-caps that have the potential to become large-caps in the future. Our mid cap focus is built on 3 key parameters:

  • A strong research and sectoral focus that is predicated largely on mid cap stocks and emerging large cap stocks that have deep potential.
  • A thorough and multi-level due diligence process that is specially designed to get a complete perspective of mid-cap and emerging large cap companies.
  • Long lasting relationships with promoters of companies ensuring easy corporate access and transparent sharing of information by the companies.

Some of our esteemed clients in the mid cap and emerging large cap space include inter alia Rupa & Co, Century Plyboards, Khadim India, Emami, Shyam Steel, Berger Paints, Srijan Realty, Bazaar Kolkata, Anmol Biscuits, Dhunseri Petrochem, Royal Infra, Warren Tea, Star Cements, Skipper, Vishnu Sugar Mills, Megatherm Electronics, Ramkrishna Forgings,

Adhunik Industries, Lumino Industries, GPT Infraprojects, Himadri Chemicals, Hind Syntex, Cheviot Company, Techno Electric & Engineering Co, Dalmia Laminators, Associated Pigments, Strides Arcolabs, among others.

The Narnolia edge in investment banking

Narnolia brings some unique advantages to our clients who are looking at opportunities in the capital markets. Here are five of them.

  • A strong institutional broking franchise to add value to your capital raising plans, especially when it comes to placement of shares with domestic and foreign portfolio investors.
  • Granular understanding of the retail broking customers, franchises and the pulse of distributors. This is very critical when it comes to managing issues, especially from the point of view of marketing.
  • Strong legal practices, compliance standards and internal processes make the legal and procedural aspects of any investment banking mandate a lot smoother. In India, a strong legal and compliance framework can be a game changer.
  • A platform and partnership approach to bringing entrepreneurs and investors together. Narnolia specializes in identifying entrepreneurs with potential early on and mentors them to the capital markets. This is also benefits investors.
  • A dedicated research team with specialization in key sectors, emerging themes and portfolio strategy is an added advantage. This constitutes the backbone of the entire investment banking process.

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