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Our Bureau

Mumbai , Feb. 20

MERRILL Lynch Capital Market Espana SA SV has increased its holding in Indiabulls Financial Services Ltd.

After the recent purchase, its shareholding has increased to 5.25 per cent. The FII purchased the shares from the secondary market.

During the quarter ended December 31, 2005, Merrill Lynch's stake in Indiabulls Financial Services stood at 2.41 per cent.

A number of other foreign institutional investors including Fidelity, Capital International, FID Funds Mauritius, Goldman Sachs Investments Mauritius and Lloyd George Investment Management already hold large stakes in the company, a release by Indiabulls said on Monday.

More Stories on : Foreign Institutional Investors | Financial Services

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