April 5, 2017 / 7:18 AM / 5 months ago

TMT-focused investment bank Raine plans India expansion

REUTERS - U.S.-based investment bank The Raine Group said on Wednesday it would expand its operations into India and open an office in Mumbai.

The merchant bank - which focuses on technology, media and telecommunications - has hired former UBS banker Gaurav Mehta to head its India business as managing director, it said in a statement.

Raine, which has offices in New York, San Francisco, Los Angeles, London and Shanghai, expects to begin India operations in early May, it said.

Raine's past deals involving India include advising SoftBank on its initial investments in ride-hailing service Ola Cabs.

Reporting by Arnab Paul in Bengaluru; Editing by Sunil Nair

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