Religare gets license for merchant banking

New Delhi, Jan 24 (UNI) Online share trading portal Religare Enterprises today obtained the merchant banking license from Securities&Exchange Board of India (SEBI) for its subsidiary -- Religare Securities Ltd.

Religare Securities will now offer an array of services including managing IPOs, rights issues, private equity, mergers and acquisitions, underwriting of securities and advisory services.

''Obtaining the merchant banking license will help us explore and bring the best investment opportunities to our clients and institutions by utilising our knowledge of capital markets to source, develop and place lucrative investments,'' Religare Securities' Country Head for Investment Banking Kamlesh Gandhi said.

Religare has already clinched over half a dozen capital market assignments amounting to the tune of Rs 700 crore for managing IPOs, right issues and private equity transactions, Mr Gandhi added.

UNI