Valmiki Leela Capital has received approval from the Securities and Exchange Board of India (SEBI) for a Category I Merchant Banking licence, enabling the company to transition from a corporate advisory firm into a full-scale merchant banker capable of managing public market transactions.
With offices in Ahmedabad and Mumbai, the firm currently manages mandates worth over Rs 1,500 crore across sectors, including renewable energy, transformers, data centres, defence, power and energy, and EPC infrastructure.
The SEBI approval authorises Valmiki Leela Capital to handle the full lifecycle of capital-market transactions, covering regulatory advisory, due diligence, issue management, transaction structuring, investor engagement, and research-led market communication.
Valmiki Leela Capital is led by CA Pankaj Agrawal and CA Sandeep Gupta, who together have more than three decades of experience across multiple sectors and market cycles. Following the approval, the firm plans to expand its presence in India’s equity capital markets.
In a statement on the development, Sandeep Gupta, Director, Valmiki Leela Capital, said that the licence marks an important step for the company and reinforces its commitment to transparent and compliant market operations.
The firm aims to position itself as a differentiated merchant banker with a strategy-first approach to fundraising, supported by sector insights, valuation capabilities, investor engagement, and detailed research. Valmiki Leela Capital plans to build a platform rooted in governance and transparency and enable both established and emerging enterprises to participate confidently in India’s growing capital markets.
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