Natarajan is scheduled to join the Japanese firm’s Indian unit in the coming months, said the sources, who declined to be named because the hiring decision is not public.
Natarajan currently leads equity capital markets, including initial public offerings and block deals, for Nomura’s domestic rival ICICI Securities, and has spent nearly 17 years with the firm, according to his LinkedIn profile. He previously worked with Morgan Stanley.
He replaces Mangesh Ghogre, who led Nomura’s equity capital market business in India until last month.
Both Nomura and Natarajan did not immediately respond to a request for comment. An ICICI spokesman declined to comment.
Refinitiv data showed Indian companies raised $19.4bn from equity capital markets in 2022, down 45% from the previous year, amid a rising interest rate environment and growing valuation concerns. .
Nomura was part of nearly $830 million worth of equity deals in India and ranked 10th in 2022, Refinitiv data showed, up 42% from the previous year. Natarajan has been part of more than 100 deals over the years, including initial public offerings by Adani Wilmar, the KKR-backed lender Five Star Business Finance, and the state-owned Life Insurance Corporation of India, which was the largest in India last year.