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MUMBAI, Oct 1 Asia Pulse - Anil Dhirubhai Ambani Group Reliance Money said it will foray into the investment banking sector and has obtained a merchant banking licence from market regulator Securities Exchange Board of India.
The new licence from SEBI to focus on small and mid-sized companies would allow Reliance Money to provide a wide range of investment banking services such as issue management, underwriting, private equity advisory/ syndication and corporate finance services in India, a company statement said Tuesday.
"We are extremely pleased with this development, as we believe the potential for Investment Banking in India is huge. While the main focus of the industry has been on large caps, we see a huge opportunity in serving the small and mid-sized segment, currently being ...