Merrill Lynch picks up 5% in Religare

Merrill Lynch has bought a 5% stake in domestic brokerage Religare Enterprises ahead of the company’s initial public offering.

MUMBAI: Merrill Lynch has bought a 5% stake in domestic brokerage Religare Enterprises ahead of the company’s initial public offering.

The stake was picked up by Indopark Holdings, a wholly-owned subsidiary of Merrill Lynch.
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