Image Source: The Raine Group
Three senior bankers, including Raine Group India head Gaurav Mehta, have departed the boutique advisory firm to establish a new investment banking venture. Alongside managing directors Naveen Asopa and Girish Punjabi, the move signals a strategic shift in India’s financial sector, as the trio aims to leverage their expertise in media, tech, and telecom deals.
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Key Highlights
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Leadership Exit: Gaurav Mehta, partner and head of Raine Group India, has resigned along with managing directors Naveen Asopa and Girish Punjabi.
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New Venture: The trio is set to launch a new investment banking firm, though details of its strategy and focus remain undisclosed.
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Raine’s Track Record: Raine Group has advised marquee deals in India, including the $8.5 billion Disney–Reliance joint venture combining streaming and television assets.
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Market Context: India’s IPO market has slowed in 2026 after two years of record fundraising, creating opportunities for boutique firms to innovate.
Why This Matters
The departure of Raine’s top India executives marks a significant reshaping of the boutique advisory landscape. With proven expertise in high-profile media and technology transactions, the new firm could emerge as a strong competitor in India’s evolving investment banking sector. For Raine, the challenge will be maintaining momentum amid leadership changes.
Sources: Business Standard, The Economic Times, Bloomberg
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