Rabo India Finance, a non-banking finance company, has a merchant banking licence in hand and plans to set up a fully owned investment banking entity. It is already into investment banking but does not handle public issues, which it can through the separate entity, said Sanjiv Bhasin, CEO, Rabo India Finance, at a press conference here on Wednesday.

The private equity fund will be set up along with a partner in one of the areas that Rabo India specialises in, such as food agriculture, life sciences or biotech.