Investment banking firm - Business Development Asia LLC has hired Barclay’s Sumit Ganguly as M.D and head of its Mumbai office. This would help bolster BDA’s strong team in India, and to deepen the firm’s unparalleled pan-Asian line-up of top investment bankers.
Prior to Joining BDA, he worked for four years as Director, Corporate Finance at Barclays in Mumbai. Before that, he worked in the corporate finance departments of ABN AMRO, DSP Merrill Lynch, and UBS.
Sumit has a deep knowledge of India and the rest of Asia, with sector experience spanning Technology, Media & Telecom, Chemicals, Consumer, Aviation and Financial Institutions.
His past clients include the Government of India, Airport de Paris, BPL Cellular, Britannia, Carlyle, IDBI, Indian Petrochemicals, Lincoln National, Metro Airports, Siemens, Tata Global Beverages, TATA-SIA, and Tech Mahindra.
Ganguly is a fellow of the Institute of Chartered Accountants of India and holds a Diploma from Xavier’s Institute of Management, and a BCOM (Hons) from St. Xavier's College, Kolkata.
BDA has completed some impressive transactions involving India over the past few years, for blue-chip clients such as ICICI Venture, Larsen & Toubro, Life Technologies, Tata Motors, Weir and Wockhardt and recruiting Sumit would drive continued growth in India and across Asia.
Headquartered in New York, Business Development Asia LLC is a leader in cross-border investment banking in Asia. BDA advises on M&A, capital raising, and restructuring. It has been consistently owned and managed by the same team since 1996. The firm has a track record of providing independent advice to blue-chip corporate and financial sponsor clients from North America, Europe and Asia. It has offices in London, Beijing, Shanghai, Hong Kong, Mumbai, Bahrain, Seoul and Tokyo.
BDA formed a partnership with William Blair & Company in 2011. BDA carries out its US securities business through BDA Advisors Inc.
Also, BDA LLC advised the companies on exit of ICICI Venture from Radiant Research.
Hokey Pokey Icecreams - Mumbai-based chain of ice cream parlours has received pre series A funding and has plans to raise more funds by end of the year, Livemint states. The company has raised less than a million dollars from investors led by Peter Rajsingh, a partner at New York-based Castellar Partners and Professor at New York University.
The nation's biggest integrated power utilities company the Tata Power Company limited, is all set to buy renewable energy assets of Welspun Renewables Energy Pvt Ltd (WREPL), for about $1.45 billion inclusive of debt.