India Infoline arm gets merchant banking licence

India Infoline Securities, a wholly-owned subsidiary of India Infoline, has received a category I merchant banking licence from Sebi.

According to a release issued by India Infoline to the BSE today, the nod will enable the company to carry out the entire range of merchant banking activities ranging from issue management to advisory services and underwriting of issues.

The company had recently acquired Marchmont Capital Advisors, and also entered into a strategic alliance with Marchmont International for exclusive services and non-compete in India, the release added.