Noble, the UK based investment bank specialising in mid and small cap companies research, has formed a strategic alliance with UBS in India for providing research on Indian companies. Under the arrangement, Noble will provide research on Indian mid and small cap companies to UBS’ global institutional client base investing into India.
Noble forayed into the Indian equity business in September 2008 with the acquisition of Clear Capital, a Mumbai based research firm focused on the small and mid cap equity market. Noble currently has a team of 11 analysts and sales people focused on Indian equities, and covering five sectors – Technology, Consumer, Banks/Financial Services, Power and Infrastructure, with a focus on stocks with market cap less than $2.5 billion.
The partnership is aimed at UBS’s existing coverage of BSE 100 companies with Noble’s research in the mid market.
Nick Paulson-Ellis, Head of Equities at Noble, said: “We think that the combination of our research base with access to UBS’ institutional investors and execution capabilities will benefit both the mid-cap companies we cover and those investors wishing to gain exposure to this fast growing segment of the Indian market.”
Saurabh Mukherjea, Head of Indian Equities at Noble, said: “We believe the Indian market presents huge opportunities in the mid- and small cap space.”
Noble group has 120 employees in offices in London, Edinburgh, Mumbai and Houston. It has a financial backing from Arch Group, an asset manager with $2 billion under management. It raised £100m venture debt in April.