Pantomath Capital, part of the Pantomath Group, which houses a large Pre-IPO fund, Mutual Fund, Retail broking and other financial services, is a leading investment bank for mid-market enterprises, with over 150 successfully closed transactions across IPOs, private equity, M&A, and structured solutions. It prides itself in taking companies public that traditional investment banks often overlook—leading high-conviction mandates that contribute to the theme of nation building. As the sole banker in several IPOs, Pantomath Capital has built institutional participation from the ground up, earning a reputation for spotting asset-backed, scalable companies early on — those emerging from Tier 2 & Tier 3 cities and beyond. As an organisation, it has consistently backed growth stories outside traditional metro hubs.
Kamraj brings over two decades of experience in the capital market, M&A, and institutional leadership. He was most recently Managing Director – Investment Banking at DAM Capital, where he led several marquee transactions across sectors. Prior to that, he held senior roles at IDFC Securities, IDFC First Bank, Vodafone Idea, and other established institutions. Well-regarded for his strategic clarity and decisive execution, Kamraj’s transaction expertise spans telecom, media, internet, retail, FMCG, and financial services.
Siddharth and Sharad bring over two decades of investment banking experience each, in leading organisations like Enam Securities, Axis Capital, amongst others, having led large and complex transactions across ECM, M&A, private equity, and strategic advisory. They have advised leading corporates and financial sponsors on both buy-side and sell-side mandates, capital market transactions and long-term capital strategies. Their strong client relationships make them instrumental in managing high-value mandates. Both will take on senior leadership roles at Pantomath Capital as Managing Directors.
“Pantomath Capital is a fast-growing institution that truly understands the potential and growth ambitions of companies from Tier 2, Tier 3 cities and beyond — the real builders of Bharat. It stands out as a prominent investment bank in India with entrepreneurial DNA, deep-rooted promoter access, and the proven ability to convert relationships into meaningful capital market outcomes. The volume and quality of transactions at Pantomath Capital are testament to that,” remarked Kamraj Negi, MD & CEO (Investment Banking), Pantomath Capital.
“Pantomath Capital stands out for its sharp execution focus and ability to identify scalable businesses ahead of the curve,” said Siddharth Shah, MD (ECM), Pantomath Capital and Sharad Dhariwal, MD (ECM), Pantomath Capital, in a joint statement. “We are excited to join, and proud to be part of a team that’s redefining what investment banking can mean for Bharat.”
“This is not just a leadership hire—it’s a significant step forward in our long-term commitment to scale with quality,” said Mahavir Lunawat, Founder, Pantomath Capital. “With Kamraj, Siddharth, and Sharad joining us, we are bringing in a high-calibre leadership team with a proven track record in capital raise and Advisory. Pantomath Capital already has a strong, execution-led investment banking team with deep sectoral expertise. Backed by a robust and growing pipeline of domestic and cross-border mandates, we are now well-positioned for the next phase of strategic expansion. Our focus remains unwavering — to partner with high-growth companies, champion the Make in India mission, and enable inclusive wealth creation for discerning investors.”
As India’s mid-market opportunity accelerates, Pantomath Capital continues to lead with institutional rigour, strategic depth, and a focused mission—unlocking value where a few are looking, and delivering outcomes that stand apart.
About Pantomath Capital:
Pantomath Capital Advisors Private Limited is the investment banking arm of the Pantomath Group, known for its discovery-led approach to capital formation and deep alignment with founder-driven enterprises. As a SEBI-registered Category I Merchant Banker, the company has built a reputation for precision-led execution across IPOs, QIPs, private placements, and M&A. Pantomath Capital is among the most active and trusted investment banker to mid-market companies. With a sector-agnostic approach backed by proprietary research, regulatory clarity, and capital markets expertise, it plays an active role i India’s public market ecosystem—not just as facilitators, but as long-term capital architects.
About Pantomath Group:
India’s most integrated & fastest growing mid-market financial services group
Built for Bharat & Beyond
Pantomath Group is a diversified financial institution built on the conviction that capital, when deployed with insight and intent, can shape enduring institutions and catalyse meaningful economic progress. Founded by Mahavir Lunawat and Madhu Lunawat, the Group brings together institutional discipline with entrepreneurial drive. Pantomath has evolved into a full-spectrum capital powerhouse spanning investment banking, asset management, retail and institutional participation, and digital capital infrastructure. Headquartered in Mumbai with pan-India operations and a regulated presence at GIFT City through The Wealth Company, and a growing global footprint across USA, Singapore & UAE.
For more info: www.pantomathgroup.com
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