Equirus names Manish Jain CEO to steer its new NBFC arm

MUMBAI: Equirus Group has tapped industry stalwart Manish Jain to head Equirus Finance, its newly minted non-deposit-taking NBFC, soon after receiving the Reserve Bank of India’s nod. The move signals a decisive push by the full-service financial firm to expand its wealth and credit ecosystem.

Jain, who steps in as chief executive officer, will lead the charge in building a high-quality, relationship-driven lending franchise centred on bespoke credit for high-net-worth individuals, family offices and business promoters. With Equirus Wealth already managing more than USD 2.2 billion in assets, the NBFC adds a fresh plank to the Group’s ambition of creating an integrated advisory and lending platform.

Backed by over two decades of experience at ASK Group, Nuvama, Anand Rathi Global Finance and Deloitte, Jain brings a seasoned mix of capital-market lending, structured credit and NBFC leadership. His track record includes scaling Las businesses, launching India’s first digital Las platform, managing treasury books of more than Rs 2,500 crore and steering CFO roles across lending entities.

Commenting on the appointment, Equirus managing director Ajit Deshmukh, said the Group is confident Jain’s expertise will accelerate its goal of becoming a trusted financial partner for entrepreneurs, corporates and affluent families across India.

Jain called the opportunity “transformative” and said he aims to build a client-focused NBFC that marries customised funding solutions with strong governance and risk stewardship.

Equirus Finance will offer a suite of products including loan against securities, ESOP financing, market-linked debentures and structured credit. The company is aiming for a Rs 3,000 crore, high-quality loan book over the next few years, while fostering strong synergies with Equirus Wealth to deliver a unified One Equirus experience.