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Elara Capital Plc´s epic journey into the global financial markets began with its incorporation in London, United Kingdom in 2002. Today, Elara is authorized and regulated by the Financial Services Authority (FSA) in UK and registered as a Category A investment bank besides being a full scale service investment bank, having a global foot print and offices across Mumbai, Singapore, New York, Zurich, Mauritius, and continental Europe.
Elara was incorporated when Raj Bhatt was joined by a team of professionals who saw an immense opportunity in one of the fastest growing economies in the world, India. The beginning of Elara´s operations thus coincided with the upturn in the global economy and the recognition of emerging markets like India as a tremendous investment opportunity by the international investor community. While on the one side, global funds were making higher allocations to emerging markets, many Indian companies were looking for funds for their domestic and international growth plans. Elara was one of the first investment banks to recognize this opportunity and being India-centric, it positioned itself as one-stop shop catering to the fund raising requirements of these growth-hungry companies.
Elara started offering capital market products such Global Depository Receipts (GDRs) and Foreign Currency Convertible Bonds (FCCBs) to raise money for listed Indian companies in the overseas markets.
Starting with its 1st successful GDR issue of Sterling Biotech of USD15mn in 2003, Elara emerged as one of the leading investment banks for Indian companies looking at overseas fund raising, and has consistently ranked amongst the top investment banks in the Bloomberg league tables since then. Elara has so far successfully completed over 60 fund raising assignments. Being sector agnostic, Elara has helped raise money for companies from various sectors such as aviation, auto components, construction and infrastructure, hospitality, information technology, logistics, media, manufacturing, pharmaceuticals and industrials.
A full service Investment Bank
Starting with fund raising, Elara soon evolved into a full service investment bank. Elara has so far completed transactions worth over USD3.5bn and has expanded the scope of its services to include:
M&A and Private Equity Advisory Practice:
Strong demand from the existing clients was the key catalyst in setting up this practice. Since its start in early 2007, Elara has successfully closed numerous cross-border and India deals. Broad range of sectors includes Power Equipment, IT Services, Pharma, Entertainment and Financial Services through a highly networked team that operates out of New York, London, Brussels, Singapore and India.
Broking Services:
Elara is a registered trader authorized and regulated by the Financial Services Authority of UK, and is also a member of the London Stock Exchange and a market maker in London AIM market. It also has a very active depository receipts and convertible bonds trading desk and facilitates trading in depository receipts on a matched principal and agency basis.
Asset Management:
Elara Capital Plc. is registered as a Foreign Institutional Investor (FII) in India. It manages several funds including Elara Emerging Markets Fund, domiciled in Luxembourg and Elara India Opportunities Fund Ltd (EIOF), a fund domiciled in Mauritius.
India Operations - Extending Services in the Domestic Financial Market
Elara´s operations being India-centric, it set up two wholly owned subsidiaries in India. This has enabled Elara to step up the service its clients in the domestic market.
Elara Capital (India) Private Limited was incorporated in 2006, as a Category-1 Merchant Bank registered with SEBI. This company offers an entire gamut of financial services including capital raising in the local market through Initial Public Offering (IPOs), rights issue, bonus issue, debt etc, M&A and private equity advisory and financial restructuring advisory services.
Elara Securities (India) Private Limited, the second subsidiary was incorporated in India in 2007. This company was conceived as a specialized research & broking arm focusing on institutional clients to leverage Elara Group´s deep and broad based understanding of the Indian financial markets. With membership of NSE Cash and F&O Segment and BSE Cash Segment, in a short span of time Elara Securities manages several institutional trading accounts.
Elara Securities has a state-of-the-art dealing room in Mumbai with experienced traders and dealers to ensure excellent execution. It has active sales desks manned by experienced salespersons equipped with excellent service capabilities. Elara Securities has access to a large number of Indian companies, which enables it to facilitate Investor–Company interface on a regular basis. Elara has significant distribution and placement capabilities – having active relationships with over 120 institutional investors globally.
Elara has a 20-member strong Global Markets Research team, located in Mumbai which also the crown jewel of the company. Having acquired a vast domain knowledge and a wide-range of expertise in the Indian and global environs, Elara provides an edge to investors with its ahead-of-the-curve ideas and an entirely fresh approach towards large caps. The diverse product repertoire of the research team has already grabbed attention of the investor community in such a short span.
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