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Business News/ Companies / India Infoline gets Sebi nod for mutual fund biz
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India Infoline gets Sebi nod for mutual fund biz

India Infoline gets Sebi nod for mutual fund biz

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Mumbai: Financial services firm, India Infoline Ltd has got final nod from the capital market regulator, Securities and Exchange Board of India (Sebi) to start its mutual fund business.

As per the news reports in past, the company plans to raise funds from foreign institutions to raise in mutual funds.

“This enables commencement of mutual fund business and launching of mutual fund schemes in due course," the company said in an announcement on Bombay Stock Exchange on Wednesday.

The India Infoline stock was up 1.51% to Rs70.60 a share on Bombay Stock Exchange at 10:00 am on Wednesday.

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ABOUT THE AUTHOR
Sneha Shah
Sneha writes on new economy businesses, private and public marker funding and deals. She writes about startups and the new economy, specifically PE/VC and investment banking.
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Published: 23 Mar 2011, 09:36 PM IST
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