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Mumbai, July 4 Global investment bank Credit Suisse has been granted a merchant banking licence from the Securities and Exchange Board of India. Credit Suisse will now provide a range of onshore securities underwriting and corporate finance services in India.

“Our expansion into investment banking onshore in India highlights Credit Suisse’s broad-based approach in building an integrated, comprehensive global financial services platform in the country,” said Mr Paul Calello, CEO of Credit Suisse Investment Bank.

The investment banking team will be led by Mr V. Anantharaman. In addition to capital raisings, Credit Suisse expects Indian companies to be increasingly active in cross-border M&A and domestic consolidation in industries such as financial services, general industries, consumer goods, natural resources, communications and IT, and real estate.

Credit Suisse forecasts a 10 per cent Indian GDP growth in 2007, versus market consensus of 8 per cent.

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Credit Suisse gets nod for merchant banking

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