Punshi will lead the firm's operations working with an experienced and dedicated team of investment banking professionals covering the Indian market.
Jefferies has worked with Indian companies for some years and opened its representative office in New Delhi in 2007.
It is a key player in the issuance of foreign currency convertible bonds, GDR's and ADR's.
Outside India, Jefferies' investment banking has raised close to $2 billion for Indian issuers, including more than $850 million in 2007 for clients in the media, industrial, technology, healthcare and textiles sectors.