Pantomath Capital Advisors appoints Mitul Shah as Managing Director – Investment Banking

Pantomath Capital, part of the Pantomath Group, has appointed Mitul Shah as Managing Director – Coverage and ECM Sales, Investment Banking. In this role at Pantomath Capital Advisors, he will be responsible for institutional investor coverage, ECM sales, and issuer engagement across the investor ecosystem.

Shah brings over two and a half decades of experience, including nearly two decades as a sell-side equity research analyst and around seven years in manufacturing engineering. He is recognised for his domain expertise across equity research, sector coverage, investor engagement and equity capital markets–related client interactions.

Prior to joining Pantomath, Shah was associated with DAM Capital as Executive Director, where he led research coverage of the automobile and auto ancillary sectors. Earlier, he spent several years at Reliance Securities’ institutional desk as Head of Research and Automobile Analyst, overseeing sector research teams and covering sectors including automobiles, aviation, IT services, PVC pipes and mid-cap stocks.

Shah’s professional career also includes senior research roles at Quant Broking, Karvy Stock Broking and First Global Securities, where he authored several hundred research reports across the Indian and global automobile sectors and built long-standing relationships with corporate leadership, fund managers and buy-side analysts.

Commenting on the appointment, Mahavir Lunawat, CMD, Pantomath Capital said, “Mitul’s appointment is a strategic addition to Pantomath’s investment banking leadership as we deepen our institutional coverage and equity capital markets franchise. As markets evolve, our focus remains on building a differentiated, insight led investment banking division, and Mitul will play a pivotal role in that journey”.

Adding to it Mitul Shah, Managing Director- Coverage and ECM Sales, Investment Banking, Pantomath Capital said, “I am delighted to join Pantomath at a time when the Indian capital markets are undergoing a structural transformation. Pantomath’s integrated investment banking ecosystem, entrepreneurial culture, and strong focus on long term value creation strongly resonate with my professional philosophy. I look forward to working closely with issuers, investors, and the leadership team to strengthen institutional engagement, support high quality capital raising, and contribute meaningfully to the Group’s next phase of growth.”

Pantomath Capital Advisors has strengthened its investment banking leadership with key appointments, including the appointment of Hiren Raipancholia as Managing Director – ECM and Syndication. He joins from Equirus, where he served as Executive Director.