CEO Negandhi resigns - sources

Bikaji Foods International

15/09/2023 15:12

By M. Sriram and Aditya Kalra
       NEW DELHI, Sept 15 (Reuters) - Indian lender Axis Bank's
 AXBK.NS  investment banking unit Axis Capital's co-Chief
Executive Officer Chirag Negandhi has resigned, two sources with
direct knowledge of the matter told Reuters, adding that the
firm is likely to tap outside candidate for the role. 
    Negandhi's departure was communicated internally on Friday,
the first source said.
    He spent more than 13 years at the Axis' investment banking
unit and would continue for three more months, the source added.
    Axis Capital, one of the country's biggest investment
banking firms, has been a part of some successful initial public
offerings over the past year, including Cyient DLM  CYIT.NS ,
Mankind Pharma  MNKI.NS  and Bikaji Foods  BIKA.NS .
    Axis Capital did not immediately respond to a Reuters
request for comment. Negandhi declined to comment.

 (Reporting by Sriram Mani and Aditya Kalra; Editing by Shweta
Agarwal)
 ((tanvi.mehta@thomsonreuters.com; https://twitter.com/TanviMehta710;))