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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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First Published: Wed, Mar 23 2011. 09 36 PM IST
Updated: Wed, Mar 23 2011. 09 36 PM IST
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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First Published: Wed, Mar 23 2011. 09 36 PM IST