Follow India Renewable Energy News on WhatsApp for exclusive updates on clean energy news and insights

Valmiki Leela Capital Receives SEBI Approval to Operate as a Full-Scale Merchant Banker

Valmiki Leela Capital, an investment firm with a strong focus on renewable energy, power, data centers, defence, and EPC infrastructure, has received approval from the Securities and Exchange Board of India (SEBI) for a Category I Merchant Banking licence. With this clearance, the company transitions from a boutique corporate advisory firm into a full-fledged merchant banker capable of handling a wide range of capital-market transactions.

Based in Ahmedabad with additional operations in Mumbai, the firm currently manages mandates worth over INR 1,500 crore across various high-growth industries, the company noted in its announcement.

The SEBI authorisation empowers Valmiki Leela Capital to execute the complete spectrum of merchant banking activities, including due diligence, regulatory advisory, issue management, transaction structuring, investor outreach, and research-backed market communication.

The organisation is led by CA Pankaj Agrawal and CA Sandeep Gupta, who together bring more than three decades of diverse market experience. With the new licence in place, the leadership is now focused on scaling the platform and strengthening its foothold in India’s rapidly expanding equity capital markets.

Commenting on the approval, Sandeep Gupta, Director of Valmiki Leela Capital, said, “Securing the SEBI Category I licence marks a major milestone for our firm. It underscores our commitment to providing transparent, compliant, and high-quality market solutions. With a team that combines deep sector expertise and strong analytical skills, we intend to contribute meaningfully to India’s capital-market landscape.”

He added that the company aims to build a differentiated merchant banking franchise anchored in strategic thinking, sector-specific insights, valuation strength, investor-engagement capabilities, and detailed research support—helping companies navigate their listing journey and create long-term value.