US-based Raine Group on Wednesday announced launching of its operations in India with a new office in Mumbai. Raine, a global merchant bank focussed exclusively on technology, media and telecommunications, has appointed Gaurav Mehta as Managing Director to head its India business. Mehta was previously heading India operations of UBS’ investment banking. Raine will operate through the Indian subsidiary, which the company is in the process of establishing, and expects to commence operations in May, Raine said in a release.