Date:09/02/2006 URL: http://www.thehindubusinessline.com/2006/02/09/stories/2006020903390600.htm

Back Merchant banking — India Infoline arm gets licence

Our Bureau

Mumbai , Feb. 8

FINANCIAL services firm India Infoline on Wednesday said its wholly owned subsidiary, India Infoline Securities Pvt Ltd, has received a Category I Merchant Banking licence from the Securities and Exchange Board of India.

"This will enable the company to carry out the entire range of merchant banking activities ranging from public issue management to advisory services and underwriting of issues," a company release said here.

Mr Ajit Menon, Senior Vice-President and Head-Investment Banking, India Infoline, said the company would provide focused corporate finance advisory services for SMEs in the areas of mergers & acquisitions, private equity placements, IPOs and high yield debt. "We see specific opportunities in cross border M&A that would bring in strategic benefits and growth opportunities for companies in the SME sector and we are already seeing good traction in this area,'' he said.

India Infoline expects a significant number of small and medium-sized companies to be turning to the capital markets and becoming involved in mergers and acquisitions.

The leading investment banks are targeting the large companies and the `small and medium-sized companies' bracket is a good untapped growth opportunity.

The company recently acquired Marchmont Capital Advisors Ltd and entered into an alliance with Marchmont International for exclusive services and non-compete in India.