Emirates NBD Capital, the investment banking arm of Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (MENAT) region, has received regulatory approval for a Category I Merchant Banking licence from the Securities and Exchange Board of India (SEBI), India’s market regulator, becoming the first Middle Eastern investment bank to secure Category I licensure. The Category I Merchant Banking licence positions Emirates NBD Capital to offer a full suite of capital market services in India, covering the entire lifecycle of investment banking transactions, including acting as merchant banker and bookrunner on equity capital market offerings — Initial Public Offerings (IPOs), follow-on offerings and Qualified Institutional Placements (QIPs) — as well as serving as an arranger on local debt capital market placements, said a statement. Emirates NBD Capital India Private Limited, incorporated in Mumbai, operates as an extension of Emirates NBD Capital’s global investment banking platform in the UAE, supported by a local presence, robust governance and a Board of Directors comprising senior Bank executives. The licence allows Emirates NBD Capital to channel this Middle Eastern capital into Indian equity and debt market opportunities, where regional participation remains relatively limited despite strong underlying interest. Hitesh Asarpota, CEO of Emirates NBD Capital, said: “Securing a merchant banking licence in India marks a milestone for Emirates NBD Capital and the wider Group.