The Raine Group, a global merchant bank focusing exclusively on technology, media and telecommunications, has announced its plans to expand its operations in India and open a new office in Mumbai.
Gaurav Mehta, who was previously heading the India Investment banking at the UBS, will lead the Mumbai operation, aiming to provide a strong presence in the Indian market and enhancing the firm's ability to continue advising clients on a global basis.
The Raine Group will operate through a newly-formed Indian subsidiary, which it is in the process of establishing, and expects to complete this process, locate office space and commence operations in early May.
The Raine team has over 70 years of combined experience advising on M&A and capital raising transactions in India. Most recently, Raine advised on a number of transactions in India including advising SoftBank on its initial investments in Ola Cabs and other Indian consumer internet companies and YuppTV (a leading OTT platform) on its capital raise from Emerald Media. The firm has also assisted several of its portfolio companies and global clients in developing strategic partnerships in India.
"India has long been an important geography for Raine and we are seeing an increasing amount of M&A and investment activity in the TMT space, as well as potential expansion opportunities for our portfolio companies," said Brandon Gardner, President of Raine.
"Raine has been at the forefront of the TMT industry since its inception and has deep and long-lasting relationships with major TMT companies globally. Over the past few years we have witnessed significant growth in the telecom and media sectors and Raine is uniquely positioned to take advantage of the opportunity set in India," added Mehta.
Mehta, who has over 15 years of experience advising the Indian companies, was previously responsible for the overall investment banking and financing business for UBS in India, based in Mumbai. While at UBS, Mehta's focus included the TMT sector and he advised on some of the largest M&A and most significant capital raising transactions in the Indian media and communications and consumer internet sectors including for clients such as Bharti Airtel, Bharti Infratel, Reliance Communications, Videocon D2h and Flipkart.
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