Emirates NBD Capital has become the first Middle Eastern investment bank to receive a Category I Merchant Banking licence from India’s Securities and Exchange Board (SEBI). The approval enables the Dubai-based firm to expand its capital markets presence in India, offering equity and debt services including IPOs and bond placements.
Emirates NBD Capital, the investment banking arm of Emirates NBD Group, has achieved a significant milestone by receiving regulatory approval from SEBI for a Category I Merchant Banking licence. This development positions the firm to play a pivotal role in India’s fast-growing capital markets, strengthening ties between the UAE and India.
Key Highlights
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The licence allows Emirates NBD Capital to act as merchant banker and bookrunner for equity offerings such as IPOs, follow-on issues, and Qualified Institutional Placements.
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It also enables the firm to provide debt capital market services, including bond placements and structured financing solutions.
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This marks the first time a Middle Eastern investment bank has secured Category I licensure in India, underscoring the growing economic partnership between the two regions.
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The move follows Emirates NBD’s broader strategy to deepen its footprint in India, complementing its plans to acquire a majority stake in RBL Bank.
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The approval is expected to unlock new capital flows between India and the Middle East, supporting corporate growth and investor access to diverse opportunities.
Sources: Government of Dubai Media Office, Reuters, AGBI