Birla Capital gets SEBI merchant-banking license

Written by Agencies | Mumbai | Updated: Oct 29 2009, 01:16am hrs
Birla Capital & Financial Services, a part of the Yash Birla Group, has been granted a merchant-banking license by the Securities and Exchange Board of India (SEBI).

The license will enable the company to offer a wide range of on-shore investment banking advisory and underwriting services in the Indian market, a company statement said.

Birla Capital & Financial Services will initially concentrate on regulated services like initial public offerings, takeover, buybacks, delisting and valuation.

It also offers non-regulated services like PE syndication, M&A advisory and other corporate advisory, the release said.

Birla Capital & Financial Services is a part of the Rs 3,000-crore Yash Birla Group that has diversified interests in sectors like auto and engineering, textiles, chemicals and power and electricals to emerging sectors like wellness and lifestyle, education and IT.