UK firm Collins Stewart takes 50 per cent in Inga

Mumbai, Feb 20 (UNI) Global financial services major, Collins Stewart (CS), has completed its investment of 50 per cent stake in Inga Advisors, a Mumbai-based Category-I Merchant Banker.

The joint venture with Inga is consistent with Collins Stewart's strategy of creating a more broad-based financial services group to enhance its client offering and growth potential.

This will aid Inga gain access to Europe 's huge mid-cap market in which Collins Stewart has a strong presence. Pursuant to this investment, Inga will be rechristened as Collins Stewart Inga Private Limited, said a company release here today.

Joel Plasco, Chief Executive of Collins Stewart said,''The joint venture would enable Collins Stewart to further extend its global reach and ideally position it to capitalize on India's fast growing financial markets as seen in the flurry of Indian new issues on AIM in the last few weeks.'' Inga has raised over USD 50 million for its clients in the past financial year through initial public offers and private placements.

Primarily in the mid cap segment, Inga conducts transactions in the fund raising and advisory services. It has gained significant domain knowledge in media, infrastructure and the real estate space having closely worked with corporates like Phoenix Mills, Simplex Infrastructure, Sadbhav Engineering, Kalpataru Power Transmission, B E Billimoria&Co and Tips Industries.

Collins Stewart, the largest independent stock broker in the United Kingdom recently acquired Hawkpoint Holdings Limited (parent company of Hawkpoint Partners Limited). Hawkpoint is one of the leading corporate finance advisory firms in the UK. It advises on a broad spectrum of strategic and transactional matters, including acquisitions, disposals, public offers and mergers, capital raisings and IPOs. It also provides capital market advice and has an established debt restructuring advisory capability.

UNI