Tata Capital forays into merchant banking

MUMBAI: Tata Capital on Tuesday announced its foray into merchant banking services through a wholly-owned subsidiary, Tata Capital Markets.

"This decisive stance to enter into merchant services exemplifies our firm commitment to emerge as a holistic provider of financial services," Tata Capital's Managing Director Praveen Kadle said in a statement.

Having Category-I merchant banking licence from SEBI, Tata Capital Markets Ltd (TCML) would operate as a full merchant bank, encompassing issue management services, qualified institutional placements, corporate advisory services and loan syndication.

TCML, he said, would leverage the distribution network of Tata Securities, another wholly-owned subsidiary of Tata Capital, for retail and institutional placement activities, Kadle said.

"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," he said.