Vivro Financial Services

What Vivro Financial Services does

Vivro Financial Services is an India-based boutique investment banking and advisory firm founded in 1993, operating through two private limited entities: Vivro Financial Services Private Limited, a SEBI-registered Category-I Merchant Banker (registration number INM000010122), and Vivro Capital Advisors Private Limited, a wholly-owned subsidiary focused on asset resolution services for banks and financial institutions. The firm delivers five service verticals — Capital Market Services (equity and debt), Corporate Finance (credit syndication, financial restructuring, TEV studies), Corporate Advisory (PE/VC, M&A, business strategy, valuation, ESOP), Wealth Management, and Asset Resolution — serving corporate clients, banks/FIs/ARCs, and high net worth individuals primarily across Gujarat, Maharashtra, and Tamil Nadu, with offices in Ahmedabad (headquarters), Mumbai, Vadodara, and Chennai.

The business model is fee-based professional services: revenue is generated through transaction-driven advisory mandates (lead manager, book runner, advisor), valuation engagements, ESOP structuring, credit syndication fees, and asset resolution retainers from empanelled banks and ARCs. The firm is supported by 90+ professionals including Chartered Accountants, Company Secretaries, MBAs, Lawyers, and Ex-Bankers, with senior leadership possessing three decades of capital markets and corporate finance experience. Vivro Capital Advisors is empanelled with approximately 30 banks, financial institutions, and several ARCs, and has been associated with the resolution of more than 3,000 NPA cases over the past decade with assets under recovery exceeding Rs. 1,000 crores.

Marketing and distribution operate through a direct enterprise sales motion combined with content-led brand building via the Fintelligence bi-monthly newsletter and an extensive topical blog covering Indian capital markets, regulatory, and corporate finance themes. Pricing is transaction-based and quote-driven, with no publicly disclosed fee schedule. The firm is founder-owned and privately held, with no disclosed institutional investors, funding rounds, M&A activity, or public revenue figures. A January 2026 SEBI-mandated regulatory disclosure formally delineates SEBI-regulated activities from non-SEBI-regulated services such as valuation, PE/VC placement, M&A, and ESOP advisory.

Name

Vivro Financial Services

Legal name

Vivro Financial Services Private Limited

Website

https://vivro.net

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

101–250 employees

Short description

Vivro Financial Services is an India-based boutique investment banking and advisory firm, founded in 1993 and registered as a SEBI Category-I Merchant Banker, serving corporate clients, banks/FIs/ARCs, and HNIs across equity capital markets, debt, M&A, valuation, wealth management, and asset resolution through offices in Ahmedabad, Mumbai, Vadodara, and Chennai.

Ownership category

akta.pro rank

Product category

Investment Banking & Advisory Services

NAICS

Investment Banking and Securities Intermediation (52315), Portfolio Management and Investment Advice (52394)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Corporate Finance & Capital Advisory (BPAHADAB)

akta.pro secondary industries

M&A Advisory (Buy-side/Sell-side) (BPAHADAC), Equity Capital Advisory (Private Equity Placements, Growth Capital) (BPAHAOAE)

Keywords

• Investment banking services
• Merchant banking services
• Credit syndication
• Asset resolution services
• Wealth management services

Headquarters

HQ city

Ahmedabad

HQ country

India

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Merchant Banking and Investment Banking Fees: Fee-based financial services including capital market services (equity and debt), corporate finance (credit syndication, financial restructuring, TEV studies), corporate advisory (M&A, PE/VC, valuation, ESOP), wealth management, and asset resolution services. Services include activities regulated by SEBI as well as non-SEBI regulated activities such as valuation services, venture & private equity placements, merger & acquisition services, and ESOP advisory.
2. Asset Resolution Services: Asset resolution services provided to Banks and Financial Institutions through Vivro Capital Advisors Private Limited. The company acts as a Resolution Agent for resolving NPAs and is empanelled with approximately 30 Banks and Financial Institutions as well as several ARCs.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Vivro Financial Services is a boutique investment banking and advisory firm offering integrated services across five verticals: Capital Market Services (equity IPOs/FPOs/rights issues/QIPs/delisting/open offers and debt public-issue syndication), Corporate Finance (credit syndication, financial restructuring, TEV studies), Corporate Advisory (PE/VC, M&A, valuations, ESOP, business strategy consulting), Wealth Management (for individuals and corporates), and Asset Resolution Services for banks and FIs under the SARFAESI Act. The firm operates as a SEBI-registered Category-I Merchant Banker (INM000010122) and delivers services through Vivro Financial Services Private Limited and its wholly-owned subsidiary Vivro Capital Advisors Private Limited.

Product overview

Vivro Financial Services operates as a boutique investment banking and advisory firm offering integrated financial services across five main verticals: Capital Market Services (Equity and Debt), Corporate Finance (Credit Syndication, Financial Restructuring, TEV Studies), Corporate Advisory (PE/VC, M&A, Business Strategy, Valuations, ESOP Services), Wealth Management (for individuals and corporates), and Asset Resolution Services. The company is a SEBI-registered Category-I Merchant Banker (INM000010122) headquartered in Ahmedabad with offices across India. Services are delivered through two entities: Vivro Financial Services Private Limited (Merchant Banking) and Vivro Capital Advisors Private Limited (Asset Resolution).

Differentiator

Problem solved

Functional benefit

Brands

• Fintelligence: Financial intelligence publication/newsletter by Vivro covering capital markets, corporate finance, and regulatory topics

Products and services

• Capital Market Services - Equity SEBI-registered merchant banking services for equity capital markets including IPOs, Follow-on Public Offers, Rights Issues, QIPs, Pre-IPO Placements, Delisting, Open Offers/Takeovers, Convertible Issuances, and ADR/GDR offerings for Indian corporates.
• Capital Market Services - Debt Public issue syndication services for debt securities and bonds, including structure design, offer document preparation, security creation, regulatory coordination with SEBI/stock exchanges/registrars, and post-issue compliance for Indian corporates.
• Credit Syndication Arrangement of debt financing from public and private sector banks and financial institutions for project financing, working capital, structured financial products, and corporate bond placements for Indian corporates.
• Financial Restructuring Advisory services for companies facing financial stress, including debt renegotiation, liquidity restoration, and stakeholder representation for rehabilitation of stressed corporates.
• Techno Economic Viability Study (TEV) Project appraisal services analyzing technological, market, regulatory, and financial risks to assist lenders in lending decisions for project finance and corporate debt facilities.
• Private Equity and Venture Capital Advisory Equity fundraising advisory for growth-stage companies, including investor identification, term sheet negotiation, and transaction closure assistance for PE/VC placements.
• Mergers and Acquisitions Advisory Buy-side and sell-side M&A advisory including business purchase/sale, strategy formulation, due diligence coordination, and acquisition finance arrangement for Indian corporates.
• Business Strategy Consulting Strategic advisory covering business plans, expansion strategies, corporate governance, organization structure, and succession planning for Indian corporates.
• Valuation Services Professional valuation consultancy including business valuation, equity valuation, enterprise valuation, exchange ratio derivation, and fairness opinions for M&A, RBI guidelines, and SEBI compliance.
• ESOP Schemes and ESOP Valuations End-to-end employee stock option plan services including conceptualization, structuring, documentation, regulatory compliance, and valuation for Indian corporates.
• Wealth Management Personalized wealth advisory for individuals and corporates, including financial planning, investment advisory, portfolio management, and treasury management solutions.
• Asset Resolution Services NPA portfolio management and resolution services for banks and financial institutions under SARFAESI Act, including due diligence, asset sale facilitation, and recovery advisory. Operated through Vivro Capital Advisors Pvt. Ltd.

Quantifiable outcome

• More than 3000 NPA cases resolved with Assets under Recovery exceeding Rs. 1000 crores over the past decade

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and supporting.

• Banks and Financial Institutions (approximately 30)coreOthersVivro Capital Advisors is empanelled with approximately 30 Banks and Financial Institutions to act as Resolution Agent for resolving NPAs. Over the past decade, Vivro has been associated with resolutions of more than 3000 cases with Assets under Recovery exceeding Rs. 1000 crores.
• Asset Reconstruction Companies (ARCs)coreOthersVivro is empanelled with several ARCs to act as Resolution Agent for resolving Non-Performing Assets. Provides due diligence of NPA accounts, enforcement of assets under law, arranging for sale of assets, and settlement facilitation.
• Registrar to Issue / Stock ExchangesupportingTechnology or IntegrationCoordinates with regulatory agencies including SEBI, stock exchanges, and registrars for filing offer documents and compliance with post-issue requirements for public debt issuances.
• Debenture TrusteessupportingTechnology or IntegrationAssists companies in identifying and appointing debenture trustees and provides assistance with security creation for public debt issuances.
• Legal Advisors and ConsultantssupportingImplementation/ SI/ Consulting PartnerCoordinates with other appointed agencies such as lawyers, company secretaries and other consultants in preparation of offer documents for public issues ensuring compliance with applicable laws, regulations and guidelines.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• IIFL Securities: Diversified Indian financial services firm with investment banking, institutional equities, and wealth management — competes across multiple of Vivro's verticals including capital markets and wealth advisory.
• Axis Capital: Indian investment bank offering equity capital markets, M&A advisory, and private equity placement services — directly overlapping with Vivro's core mandate book including IPOs, QIPs, and advisory work.
• Motilal Oswal Investment Banking: Investment banking division of Motilal Oswal Financial Services offering ECM, M&A, and PE advisory — directly comparable in client base and product offerings to Vivro's mid-market focus.
• Systematix Corporate Services: India-focused boutique advisory firm offering investment banking, corporate finance, and merchant banking services — closest boutique peer to Vivro in scale and service breadth.
• Spark Capital: India-focused boutique investment bank specializing in ECM, M&A, and structured finance for mid-market corporates — closest peer to Vivro given its boutique positioning and similar service mix.
• BOB Capital Markets: Investment banking subsidiary of Bank of Baroda providing equity capital markets and advisory services in India — comparable mid-market positioning with bank-distribution advantages.

Broad incumbents

• Deloitte India (Investment Banking): Big Four advisory arm in India providing M&A advisory, valuations, and transaction services — competes with Vivro on mid-market corporate advisory and due diligence mandates.
• Kotak Mahindra Capital: One of India's leading investment banks providing full-service equity capital markets, M&A, and structured finance — competes with Vivro on larger IPO and advisory mandates while operating at significantly greater scale.
• EY India (Investment Banking): Big Four advisory arm in India offering M&A, valuations, transaction advisory, and ESOP services — directly competes with Vivro's advisory, valuation, and M&A mandates.
• ICICI Securities: Large Indian investment bank offering ECM, DCM, M&A advisory, and wealth management — competes with Vivro across multiple service lines and is a frequent co-manager on Indian IPO mandates.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/vivro-financial-services-pvt-ltd

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vivro Financial Services