Valmiki Leela Capital Secures SEBI Nod to Become Full-Fledged Merchant Banker
Valmiki Leela Capital, an investment firm focusing on the renewable energy, power, data centers and EPC infrastructure sector, has announced securing Securities and Exchange Board of India’s (SEBI) Category I Merchant Banking licence, and therby becoming a full-fledged merchant banker.
November 24, 2025. By Mrinmoy Dey
With operations in both Ahmedabad and Mumbai, Valmiki Leela currently has mandates exceeding INR 1,500 crores across high-growth sectors such as renewable energy, transformers, data centers, defence, power and energy, and EPC infrastructure, the company said in a statement.
The approval allows the company to undertake the entire lifecycle of capital-market deals including regulatory advisory, due diligence, issue management, transaction structuring, investor outreach, and research-led market communication.
Valmiki is led by CA Pankaj Agrawal and CA Sandeep Gupta, who bring over three decades of cumulative experience across sectors and market cycles. Their focus now shifts to scaling the platform into a mainstream player with deeper engagement in India’s surging equity capital markets.
Speaking on the development, Sandeep Gupta, Director, Valmiki Leela Capital, said, “The SEBI Category I licence is a significant milestone for us. It reinforces our responsibility to deliver transparent, compliant, and high-quality market solutions. With a team that blends deep domain experience with fresh, analytical talent, we aim to play a meaningful role in India’s capital market ecosystem.”
He further added that the company aims to position itself as a differentiated merchant banker with a strategy-first approach to fundraising with sectoral insights, valuation expertise, investor engagement capabilities, and granular research support to help companies navigate their listing journey and maximise long-term value.
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