In a strategic role, Mr. Ajay Jain will lead Business Development vertical of the Investment Banking Division at Pantomath

Mumbai, Monday, February 5, 2024: Pantomath Capital Advisors Private Limited, a leading midmarket investment bank and financial services house has appointed the Former Executive Director of Centrum Capital, Mr. Ajay Jain as Managing Partner, Investment Banking. In this strategic role, Mr. Ajay Jain will lead Business Development vertical of the Investment Banking Division at Pantomath, bringing over two decades of invaluable experience to drive the Group’s strategic initiatives.

Mr. Ajay Jain is a Chartered Accountant with an Executive MBA and Independent Director certification, having over 25 years of leadership experience. Formerly Chairman & MD at Monal Capital (P) Ltd. and Executive Director at Centrum Capital, his expertise spans across sectors such as BFSI, FMCG, auto & auto ancillaries, education, real estate & infrastructure, energy, logistics, metal, textiles, pharma, chemical and building materials.

Mr. Ajay Jain excels in fundraising, M&A, wealth management, and business restructuring, contributing significantly to renowned companies over the last two decades, including Centrum Capital, Sun Capital, Birla Group, Man Industries, and Lloyds Steel. Mr. Ajay Jain is recognized with CFO Awards (2011-2014), BFSI Awards (2019-2023), Excellence in Leadership Award (2023), and “CEO with Highest Quality Orientation” award (2023).

Commenting on the appointment, Mr. Mahavir Lunawat, Managing Director, Pantomath Capital Advisors said, “We are glad to welcome Mr. Ajay Jain to lead Business Development vertical of the Investment Banking Division at Pantomath. His extensive experience in diverse financial functions shall be a guiding force to the team. We look forward to leveraging his expertise to drive our strategic growth initiatives further”.

Expressing his views, Mr. Ajay Jain, Managing Partner, Investment Banking- Pantomath Capital Advisors, said, “I am very much delighted to be part of Pantomath Group. Pantomath is very diversified financial services Group with global presence. It is one stop solution to financial needs of client such as investment (broking, wealth management, investing in our own AIF), equity fund raise (IPO, QIP, Rights Issue, PE), M&A. Each business is supported with in-depth research & market intelligence. Pantomath has focused approach to make entrepreneur & support team members in achieving it. I am sure with my learning of last 25 years I could be instrumental in exponential growth of the Group across business verticals”

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Pantomath Capital was the Book Running Lead Manager to both the IPOs: Sole Lead ii Aeroflex and Co-Lead along with Choice Capital in VPRP Ltd.

• Together with a Pre-IPO of Rs 76 Crores, Aeroflex and its Promoter, Sat Industries Ltd, raised a total of Rs 427 Crores.
• In addition to marquee anchor investors’ participation in both IPOs; QIB Portion in Aeroflex was subscribed over 194 times, and VPRP subscribed over 171 times.
• VPRP Ltd IPO of INR 309 Crores garnered INR 19,150 Crores as it was subscribed over 87 times.
• Aeroflex Ltd IPO of INR 351 Crores garnered INR 24,500 Crores as it was subscribed over 97 times.

 Mumbai, Thursday, August 31, 2023: Mumbai-based Aeroflex Industries made a stellar listing debut today on BSE at a premium of 82.78% at Rs.197.40. Pantomath Capital is the sole Book Running Lead Manager in Aeroflex Industries IPO.  Together with Pre-IPO of Rs 76 Crores, Aeroflex and its Promoter, Sat Industries Ltd, raised a total of Rs 427 Crores.

On Tuesday, September 5, 2023, Jodhpur-based VPRP Ltd will be listed on BSE and NSE subject to receipt of necessary approvals. Pantomath Capital is the co-lead book running lead manager along with Choice Capital to this IPO.

Mahavir Lunawat, Managing Director of Pantomath Capital Advisors Private Limited, lead manager of both the IPOs, said, “We are excited having received an overwhelming response from investors. We have garnered gross subscription (before rejection) of more than Rs. 43,000 Crores in both the IPOs of Aeroflex and VPRP. This level of participation demonstrates the market depth and also the favor primary issuances get from investors. Notably, the subscription was fueled by institutional demand, which is even more encouraging.”

Aeroflex Industries Ltd and VPRP Ltd together had garnered INR 43,650 Crores of gross subscriptions. Aeroflex IPO was subscribed 97.11 times in which QIB portion was subscribed 194.73 times. On the other hand, VPRP Ltd IPO was subscribed 87.82 times in which QIB portion was subscribed 171.69 times.

Source – BSE and NSE disclosures

Notably, both the IPO subscriptions were led by heavy institutional demand. Mutual funds, insurance treasuries and AIFs participated in anchor books of both the IPOs. Nippon Mutual Fund, Invesco Mutual Fund and White Oak Mutual Fund led the anchor book of Aeroflex, whereas Quant Mutual Fund, Kotal Mahindra Life Insurance and Max Life Insurance led the anchor book of VPRP Ltd.

Remarkably, Aeroflex IPO had received more than 27 lakh applications, which is the highest number of applications received in any IPO so far this year.

On the other hand, VPRP Ltd has received over 20 lakh applications.

About Pantomath Group

In less than a decade, since its incorporation, Pantomath has become one of the fastest-growing merchant banks backed by fund management and distribution verticals. The Group has recently expanded into wealth management, fin-tech, stock broking, and distribution by acquiring a significant stake in Asit C Mehta Financial Services Limited, a 40-year legacy created by Deena Mehta and Asit C Mehta.

Pantomath Group was founded by Ms. Madhu Lunawat and Mr. Mahavir Lunawat on 5th December 2013. Mahavir Lunawat is an industry veteran with extensive expertise in capital markets & investment banking and Madhu Lunawat has over two decades of experience in investment management, corporate finance, asset reconstruction, and many other related financial services.

For over a decade, Pantomath Group has been reaching out to businesses at the remotest locations across the length and breadth of India. The team at Pantomath travels to small towns and villages, scans through the industrial clusters, and identifies high-growth businesses. Over the period, the Pantomath Group has emerged as India’s largest private network having direct corporate connect with more than 7,000 business houses.

Pantomath Capital Advisors Pvt Ltd, the Group’s investment banking entity, is a SEBI Registered Category I Merchant Banker having an impeccable track record of lead managing more than 100 IPOs. Pantomath is one of the very few Investment Banks who deal in full stack equity space including Private Equity, Mergers and Acquisitions, and Equity Capital Market. It is one of the most trusted investment bankers to mid-market businesses, family offices, and leading investors.

Pantomath has global presence through its M&A network in more than 12 countries. It has rich experience and deep connections with strategic buyers and sellers across the globe to host a plethora of opportunities for its clients. At Pantomath, a dedicated team of multi-disciplinary professionals has extensive M&A expertise.

The Group has forayed into fund management and launched India Inflection Opportunity Fund, a pre-IPO category II AIF. Besides, the Group has PMS, global investment advisory and basket investment products in its fund management division.

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