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Leading New York-based investment bank Jefferies has entered India through a representative office in New Delhi. Edward Males is the head of Jefferies' India office, which will staff nine people. The bank has been already working with Indian clients for around 30 months, and it has completed some 20 transactions raising $1.4 billion from global capital markets. Its Indian transactions have mainly been foreign currency convertible bonds, American depository receipts, alternative investments market listings, and mergers and acquisitions. The firm's existing clients in India include NDTV, Adani Enterprises, Radico Khaitan, Gitanjali Gems, Bilcare and Zenith Infotech.
The firm plans to target mid-market deals. Brian Friedman, chairman of the executive committee of Jefferies, said: "We don't wake up in the morning to chase the top 1,000 global companies. We concentrate on the companies in the middle market, which are the real drivers of growth."
Jefferies will be competing with leading global investment banks like Lehman Brothers, Goldman Sachs, Merrill Lynch and Morgan Stanley in India. It has 2,500 employees in 25 countries worldwide.