The investment banking arm of financial services group Motilal Oswal has roped in an executive from Centrum Capital Ltd to strengthen its capital markets division.
Gaurav Saravgi has been hired by Motilal Oswal Investment Advisors Ltd (MOIAL) as executive director of investment banking, the firm said in a statement on Tuesday.
Saravgi, who has over 18 years of experience in equity capital markets (ECM), was previously Centrum Capital’s senior director for investment banking and head of ECM. At Centrum Capital, he led origination, execution, and syndication of ECM transactions.
“We are delighted at Saravgi’s addition to our investment banking team. His vast experience and extensive product knowledge with strong corporate connections will strengthen our position in the ECM space and accelerate the success of our clients,” MOIAL managing director and CEO Abhijit Tare said.
According to his LinkedIn profile, Saravgi is a chartered accountant and an alumnus of Mumbai’s Mithibai College. Prior to his nearly 16-year stint at Centrum Capital, he worked at Haribhakti & Co.
MOIAL offers services in sectors including domestic and international capital markets, mergers and acquisitions, private equity, leveraged finance, debt syndication, and financial restructuring. The firm says it has completed 73 ECM and 20 M&A transactions since it was set up in 2006.
It is a part of the larger Motilal Oswal Group, whose other business lines include retail and institutional broking, private wealth management, asset management, and home finance.
In December, VCCircle reported that the group’s flagship company, Motilal Oswal Financial Services Ltd, would shave off layers from its corporate structure to enable a streamlined setup and more cohesive entity.
Then, in January, VCCircle also reported that the real estate-focused private equity arm of the group had backed a residential project being developed by a publicly listed firm.