Financial Daily from THE HINDU group of publications
Monday, Feb 13, 2006
Financial Daily from THE HINDU group of publications Monday, Feb 13, 2006 |
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Markets
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Financial Services Mefcom Capital plans PMS Our Bureau
Mumbai , Feb. 12 STOCK and commodity broking firm Mefcom Capital Markets (MCM) plans to enter the portfolio management services (PMS) business. A company release said it has applied with SEBI for PMS licence "to offer `Wealth Management & Portfolio Services' to its clientele". The release said the company has also applied for renewal of its licence with SEBI as merchant banker to restart its merchant banking services business. (Mefcom Capital Markets had earlier managed more than 200 public/rights issues and was rated as Number 1 private sector merchant-banker and underwriter from North India by PRIME), the release said. FIs such as Allahabad Bank, Catholic Syrian Bank, PNB Mutual Fund and about 200 NRIs, hold equity stake in Mefcom.
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