Mid-market-focused boutique investment bank Singhi Advisors has expanded its leadership team with the induction of Bimal Raj as partner and Narayan Shetkar as director. Both Raj and Shetkar will be based out of Singhi's Mumbai office.
Prior to joining Singhi, Raj was CEO of Smartlink Network Systems Ltd (previously D-Link), an IT networking and electronic manufacturer; while Shetkar was most recently heading corporate finance advisory with Srei Infrastructure Finance Limited.
Raj, who has over two decades of experience in IT, ITes and networking industry, will head the IT and technology vertical at Singhi. Before joining Smartlink, he had severed as CEO of Allied Digital for 13 years when Singhi Advisors was its advisor and closed two strategic value accrediting deals, in India and the US.
Shetkar, with more than 15 years of experience across investment banking, management consulting and corporate banking, has been roped in to lead initiatives in manufacturing, healthcare, engineering, infrastructure and business services. Prior to joining Srei, he served as director - corporate finance at Deloitte and closed many domestic and Cross-border transactions. He also worked with Axis Bank and Citibank.
"As a first-generation homegrown independent investment bank, we are set to take our firm to the next level of growth. It strengthens our client servicing capabilities and demonstrates the long-term view of creating a knowledge-based financial services platform," said Mahesh Singhi, founder and MD of Singhi Advisors.
Early this year, Singhi picked up a 15 per cent stake in Mergers-Alliance, a global network of independent investment banking firms engaged in mid-market deals. Since 2013, the investment banking firm has inducted five directors or practice leaders to expand its leadership team.
It claims to have closed over 100 transactions worth $4.8 billion over the past five years. It focuses primarily on business advisory and consulting approach-based domestic and cross-border transactions, with a collective strength of 450 professionals, spread over 50 offices in 25 countries.