India Infoline, a domestic brokerage firm, is planning to launch broking and investment banking services in Singapore in the next one year.
The company had applied for licence to start broking and investment banking services in Singapore, said Nirmal Jain, chairman and managing director, India Infoline at a press conference in Kolkata on Tuesday.
The company intended to start broking services in Hong Kong subsequently, he added.
India Infoline already has regional offices in Singapore, New York and Dubai, which caters to non residential Indians (NRIs) investing in India.
"We want to expand our operations outside India. Initially, we will start with broking and investment banking. We will focus on economies like Hong Kong and Singapore, " said Jain.
This apart, India Infoline will also launch an equity-focussed off-shore distress asset fund in Singapore.
"We will launch the fund, as and when the market situation improves," said Jain.
This apart, India Infoline has launched a specailised structured product called, Roca, for high net worth individuals. It provides would 22 per cent annualised returns for each day Nifty stays above 75 per cent of its entry level, said Jain.
The company has also been mulling to launch a asset management company in India.
The company has launched its wealth management services in eastern India through a subsidiary called IFL Private Wealth.
The company, through its subsidiary IIFL (Asia) Pte Ltd, has initiated research on China, with a research work titled, INCH.
