Tata Capital forays into merchant banking services

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Tata Capital Markets Limited (TCML), a wholly owned subsidiary of Tata Capital, on Tuesday announced its foray into merchant banking services to offer innovative services to corporate clients. The company has obtained a category I merchant banking license from the Securities and Exchange Board of India for this, it said.

Says Praveen Kadle, MD, Tata Capital, "This decisive stance to enter into merchant banking services exemplifies our firm commitment to emerge as a holistic provider of financial services. Our multi-disciplinary offerings model is indeed innovative in the sense that each vertical complements our abilities to cater to very diverse needs of retail and institutional customers. TCML will leverage the distribution network of Tata Securities Limited, another wholly-owned subsidiary of Tata Capital, for retail and institutional placement activities."

Tata Capital is a wholly-owned subsidiary of Tata Sons. Tata Capital is registered with the Reserve Bank of India as a systemically important non-banking financial company and intends to fulfill the diverse needs of retail and institutional customers through six broad areas of business, which is retail finance, corporate finance, distribution and broking, capital markets, private equity, and wealth management, carried out either directly or through subsidiaries. "With 98 operating companies, across seven major business sectors, the Tata Group renders us a unique advantage of being able to benefit from the knowledge and the network of the group as we embark on establishing our merchant banking business," added Kadle. TCML will operate as a full-service merchant bank, encompassing issue management services; qualified institutional placements; corporate advisory services; and loan syndication.