About the role

At S45 we are building an AI native investment bank with a focus on India’s most interesting growth stage businesses, including select high quality SMEs.

As Equity Research Lead you will decode business models, shape coverage frameworks and build narratives that move conviction for founders, brokers and investors. You will work directly with the founding team across product, research and capital markets strategy, and your work will feed both live deals and our internal intelligence stack.

What you will do

• Analyse growth stage businesses with a clear lens on unit economics, industry structure and promoter quality

• Build sharp, repeatable coverage frameworks for sectors and themes across India’s listed and pre listed universe

• Track macro and micro narratives that shape demand, pricing and long term value for the companies we work with

• Turn complex financial and operational data into clear, insight led research notes and internal memos

• Work with founders, brokers and investors to test theses and refine viewpoints as new information comes in

• Collaborate with product and data teams to translate your frameworks into structured models and internal tools

• Support deal evaluation, positioning and post listing monitoring with research that is honest and actionable

What we are looking for

• Meaningful experience in equity research, buy side, sell side or a similar analytical role

• Strong understanding of financial statements, valuation methods and sector level dynamics

• Comfort working with growth businesses where data can be noisy and narratives are still forming, including select SMEs

• Ability to write clearly, with research that is easy to read and grounded in facts, not jargon

• Curiosity about India’s broader economic and market shifts, and how they show up in specific businesses

• Comfort working directly with founders and senior stakeholders, with clear, honest communication

• Bonus: prior exposure to Indian growth companies, pre IPO names or public market investors

How we work

• Small teams with high ownership over problem areas and outputs

• Written thinking first, fast decisions once the thesis is clear

• Close collaboration between research, product, banking and engineering

• Respect for nuance, with a bias to clarity and clear recommendations

How to apply

Email: aman@s45club.in
Subject: Hiring @ S45 | Equity Research Lead

Attach or include:

• LinkedIn or CV

• Two examples of research or written work you are proud of

• Three short bullets on sectors or companies you understand deeply