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AIBI being a Public Limited Company is governed by the Companies Act 2013 and is managed by its Board of Directors. 
As per the Memorandum and Articles of Association of the company, the Board comprises of representatives from 10 of its member organisations. 
The Board members are elected as per the provisions of the Companies Act\.
The elected Board members elect one of the Board members as the Chairman / Chairperson and the Vice Chairmen/ Vice Chairperson.
The director elected as the Chairman / Chairperson and Vice Chairmen holds office till the conclusion of the following Annual General Meeting. 





Executive Director and Co-Head Corporate Finance
Kotak Mahindra Capital Company Ltd.

With over two decades of rich experience in the investment banking industry in India, Gesu has deep understanding of the Indian capital markets and has led fund raising for corporates across various sectors including consumer, healthcare, technology, banking and financial services. She has been associated with a number of marquee capital market transactions in India, across products, and handled complex situations through the various capital market cycles over the last two decades.

She has played an important role in the regulatory evolution of the Indian capital markets and has been involved with many capital market innovations over the years. Her participation on various regulatory committees is an endorsement of her experience and understanding of the capital markets in India.

Gesu has been a Director of AIBI since September, 2011. She is the Chairperson on the Board of AIBI and a member of the REITs Advisory Group of the BSE. She represents AIBI on the Primary Markets Advisory Committee of SEBI. 

Gesu is a graduate in Economics Hons from Lady Shri Ram College, Delhi University and an MBA from Jamnalal Bajaj Institute of Management Studies.

LL.B., C.A.


Managing Director – Corporate Finance – IB – Axis Capital Ltd.

Mr. Anay Khare has been part of various aspects of investment banking such as equity origination, debt syndication, M&A, corporate finance etc over the last 25 years. He has a deep understanding of and experience in capital markets in India. As Managing Director-Corporate Finance he leads a specialized team of professionals responsible for execution of investment banking products such as public issues, right issues, QIP, open offers, buybacks, private placements, de-listing offers etc. He has been involved in successful completion of more than 300 capital market transactions. He has represented his firm in various forums and policy making groups.
Mr. Anay Khare has been a Director of AIBI for the last 10 years. He is currently the Vice-Chairman of AIBI.
Mr. Anay Khare is a Chartered Accountant and Law graduate

B.COM., LL.B.,C.S.,  C.F.A.
E-mail: Mahavir.lunawat@pantoma,



Group Founder and Managing Director of Pantomath Advisory Services Group

Pantomath Group is SEBI Registered Merchant Bankers, SEBI Registered Stock Brokers and SEBI Registered Portfolio Managers. The Group has handled maximum number of SME IPOs. 

  • Has had the working exposure with leading organisations viz., Reliance Industries Limited, ITC Limited and PricewaterhouseCoopers. Successful start-up of SEBI registered merchant banking venture at Sarthi Capital Advisors. 
  • Over 15 years of vast exposure. Handled mergers, demergers and various mega corporate restructuring projects. Worked on diverse engagements including pre-IPO restructuring, capital reduction models, restructuring promoter holding companies, repatriation strategies, value unlocking, ESOP advisory etc. Led Knowledge Management and worked extensively on areas of Corporate Governance
  • Has expertise in securities law and capital markets including SME listing, IPO, M&A, takeovers, buybacks, rights issue, stock exchange / SEBI related activities

    Other Positions and Professional Accomplishments 
  • An elected member on the Central Council of ICSI (Former-Chairman of ICSI-WIRC). 
  • Director of Association of Investment Bankers of India (AIBI) 
  • Member at Capital Market Committee, PHD chamber 
  • Member at Kotak Committee on Corporate Governance, SEBI 
  • Chairman of National MSME Mission, CEO’s Association for Inclusive India (CAII) 
  • Chairman of AIBI SME Committee and Member of SEBI and BSE Working Groups on SME Listing 
  • Has been part of various Special Groups formed by ICSI inter alia for preparation of Model Listing Agreement, Compliance Certificate, Guidance Note on Listing, and formulation of representations on regulatory proposals 
  • A regular speaker at professional seminars and conferences; Visiting faculty and trainer at management institutes 
  • A regular contributor of articles / columns for business dailies and publications of national level 
  • Co-authored the prestigious SEBI Compendium (2010 Edition) 
    Qualifications & Achievements 
  • CFA (ICFAI) 
  • CFA (AIMR-USA) Level II 
  • Fellow Company Secretary (Gold Medallist) [On securing the FIRST RANK ALL INDIA in the final (June 2001), Was awarded the ‘ICSI Presidential Gold Medal’ by Shri G. N. Bajpai, the then Chairman, SEBI] 
  • Law Graduate 
  • Commerce Graduate [Selected for National Scholarship of Government for ‘Excellent Performance in Graduation’] 
  • Post Graduate Diploma in Securities Law 
  • Diploma in Export Management 
  • Certificate of Hons Graduation in GDR Training in USA & UK, Awarded by The Bank of NewYork Mellon Corp, USA  

M.Sc., M.I.B. 



Managing Director, JM Financials Ltd.

With over 14 years of experience in the investment banking industry in India, Arjun heads the Mergers, Acquisitions and Restructuring Division at JM Financial. The division is particularly focused on the execution of Capital Markets, M&A and Private Equity transactions, and Arjun has a varied experience of not only capital market products like public issues, private placements, qualified institutional placements, delistings and buy-backs, but also M&A/ PE involving both private and public companies. 
Over the years, Arjun has been actively involved in various consultations with regulators, especially on new platforms and regulations, including the framework on Schemes of Arrangement, amendments to the SEBI ICDR Regulations, creation of the Offer for Sale (OFS) stock exchange mechanism, framing Public Offer Guidelines and Listing Agreement for Public Issue of REITs and InvITs, the introduction of the stock exchange mechanism for settlement of tender offers, recommendations on Public Issue of Convertible Securities etc. He was earlier part of JM Financial ’s Delhi operations where he was closely involved in the disinvestment program.
Arjun has a Master of Science in International Finance from the CERAM European School of Management and a Master in International Business from the Grenoble Graduate School of Business in France.


B.COM., M.M.S.



Managing Director - Investment Banking - Centrum Capital Ltd.

Mr. Naik has been with Centrum Capital Ltd. since inception in 1996 and has played a key role as part of the founding team that set up the Centrum Group.
Mr. Naik has rich experience across functions ranging from corporate planning, debt structuring and placements, Project Finance to Public and Private Equity. At Centrum he has earlier led the Debt team and was instrumental in ensuring Centrum's league table ranking as one of the top 5 fund mobilisers in India. Subsequently keeping in line with the group focus and thrust on Investment Banking, Mr Naik helped grow the Corporate Finance and Advisory businesses to enable Centrum emerge as a reputed & trustworthy brand name among Mid Cap Corporates.
Mr Naik is currently responsible for the Investment Banking Business at Centrum which also includes Business Development for the Group and is at the fulcrum of the origination function for all businesses spanning debt and equity. He also holds the additional responsibility for Group fund raising.
A Commerce Graduate from Mumbai, Mr. Naik has also completed his Masters in Management Studies (MMS) from Sydenham Institute of Management Studies, Mumbai.




Managing Director - Saffron Capital Advisors Pvt.Ltd.
A Commerce graduate, Chartered Accountant and Cost Accountant by qualification, Srinivas pursues his professional career in capital markets and corporate related activities with absolute passion and commitment. He started his career in the year 1986 in the Investment Department of Unit Trust of India (UTI). Thereafter, he headed the Investment Banking Department as President of UTI Securities Limited (USL).
As the former Head of Investment Banking at USL, he was instrumental for creating a niche for USL for managing issues in the Mid-cap segment and making it an industry leader and the top choice Investment Banker in this segment.
After spending more than two decades with the UTI Group, Srinivas promoted Saffron in January 2007 to pursue his areas of interest. His dedication towards the growth of emerging corporates has seen him successfully complete more than 55 IPOs and a host of other transactions. He has with over 20 years of experience in financial services and is a veteran in the capital markets. His vast experience allows him to leverage his cross functional skills in Investment Banking, Strategy & Networking and is the guiding force of Saffron . He has been serving as a Director on the Board of Association of Investment Bankers of India (AIBI) for the last five years and has also served as the Vice Chairman of AIBI. His other interests include yoga, meditation and related spiritual pursuits and is also a teacher at the Art of Living. 


B.Tech., M.B.A.



Managing Director & Head - ECM – IDFC Bank Ltd.

Venkatraghavan S. has been with IDFC Bank Ltd. not only since inception but even before as part of SSKI, when IDFC acquired it in 2006. He has played a key role as part of the founding team that set up SSKI’s Equity Capital Markets business. With over 22 years of investment banking experience, Venkat has rich experience across Equity Capital Market products, Private Equity transactions and Mergers and Acquisitions across various sectors and market cycles.

Presently working as Managing Director & Head - Equity Capital Markets in IDFC Bank Ltd, Venkat holds a B. Tech degree from I.I.T., Madras and a post graduate MBA degree from I.I.M., Ahmedabad. Prior to joining SSKI / IDFC, he was working with SBI Capital Markets Limited in the M&A practice.  

B.E., M.B.A.



Managing Director & Head ECM & FSG - Ambit Capital Pvt.Ltd.

Vikas Khattar heads the Equity Capital Markets business and the Financial Sponsors Group at Ambit Capital.

Vikas brings with him over 22 years of rich experience in Indian Investment Banking industry. Before joining Ambit, he has worked with marquee organizaions like DSP Merrill Lynch, Citigroup, Morgan Stanley and HSBC in several senior positions across Capital Markets and Investment Banking groups therein.

Vikas is an engineering graduate from BITS, Pilani and he completed his Postgraduate Diploma in Management from IIM Calcutta.  

B.Com., M.B.A.



SVP & Co-Head ECM Execution - ICICI Securities Ltd.

With over 20 years of experience in investment banking and capital markets in India, Prem D’Cunha co-heads execution of Capital Markets transactions at ICICI Securities Limited and has rich experience across Capital Market products. Prior to joining ICICI Securities, he held senior positions across Investment Banking groups and Capital Markets in Edelweiss and National Stock Exchange of India Limited respectively.

Prem was involved in various consultations with regulators, on creation of the Offer for Sale (OFS) stock exchange mechanism, framing Public Offer Guidelines for NCDs and InvITs, the introduction of stock exchange mechanism for settlement of open offers, buybacks etc. He has worked on disinvestment transactions including the first PSU disinvestment through ETF.

Prem is a Commerce graduate and Masters in Financial Management from Mumbai University.  

As on 22  March, 2019:  INDEX - S&P CNX NIFTY: 11456.90, SENSEX: 38164.61, EXCHANGE RATES - INR/ 1 USD: 68.66, INR/ 1 EUR: 78.13, INR/ 100 JPY: 61.97, INR/ 1 GBP: 90.27
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