Jefferies looks to expand presence in India

Jefferies India, the local subsidiary of US-based Jefferies Group, is planning to enter equity research, sales and trading business in India by the second half of 2009.

“In India, we want to replicate what Jefferies has done in the US. India is a cornerstone of our business. We intend to start our own trading platform as well. We expect to get Sebi permission soon,” said Sidharth Punshi, managing director and country head in India for Jefferies.

The company expects to get Securities and Exchange Board of India (Sebi) licence for starting the business over the next few days. The Sebi licence would also allow the company to deal in the domestic IPO market, said Punshi. The company will focus on mid-cap firms in sectors such as technology and telecom, industrials and healthcare.

 

“The year 2009 will be a challenging year. We will delay the launch of our research and trading services till the second half of next year,” he said.

Jefferies Group is an international investment banking and institutional securities firm with a focus on mid-cap companies. Jefferies provides research and trade in equities, high-yield and convertible securities in the US and other international markets. It also provides services to institutional investors in fixed income securities, commodity indices, commodity futures and options, and offers brokerage, securities finance, correspondent services and NYSE brokerage services.