Almondz, Noble Group sign strategic tie up
Mumbai, Oct 9 (UNI) Almondz Global Securities Limited (AGSL) has entered into a Memorandum of Understanding (MoU) with Noble Group, an independent investment bank in UK, to jointly pursue cross-border business opportunities in the financial services space.
The MoU was inked by AGSL managing director and CEO Vinay Mehta and Noble Group broking and distribution head and partner James C Bromhead.
The principal areas of co-operation as envisaged in the MoU, include setting up a Foreign Institutional Investor (FII) desk in London and Mumbai, starting primary equity operations, and establishing a fund through which principal investments will be made by Almondz and Noble Group India.
Mr
Mehta
told
mediapersons,
''India
is
a
high
growth
investment
location
given
the
size
and
growth
of
its
local
market,
access
to
natural
resources
and
capital
markets,
stable
investment
climate,
and
skilled
low-cost
labour.
Our
alliance
with
the
Almondz
Group
is
synergistic
as
it
will
enable
us
to
jointly
expand
our
business
canvas.''
Mr
Bromhead
said,
''The
two
firms
plan
to
break
ground
by
establishing
a
FII
desk
in
London.
The
desk
will
develop
the
business
of
selling
Indian
listed
equity
products
and
equity
linked
and
hybrid
securities
to
UK
and
other
international
institutional
investors
and
UK
equities
to
Indian
institutional
investors.
Besides
setting
up
the
FII
desk,
Almondz
and
Noble
will
be
working
together
to
develop
a
strategy
for
Indian
companies
interested
in
listing
or
offering
equity
and
also
establish
an
Indian
specific
fund
through
which
principal
investments
will
be
made
by
Almondz
and
Noble
Group.''
UNI