The Hindu Business Line : Swiss group picks up stake in RR Investors

LOTUS Global, a Swiss investment group, has taken a minority stake in RR Investors, a distributor of investment and savings products. Details such as the exact holding secured by the overseas investor and the quantum of its investment in the Indian company are not known yet. RR Investors, a subsidiary of the closely-held RR Financial Consultants, has placed a limited number of shares with Lotus, confirmed Mr Rajat Prasad, Managing Director, adding that the move is the first of its kind for RR.

The Swiss group is known to be taking a long-term view when it comes to its strategic investments. RR specialises in distributing mutual funds and insurance, and operates through over 90 branches (covering 50 centres.) RR recently entered stock broking as well.

The arrangement with Lotus reflects the general level of interest displayed by overseas institutional investors in local financial services companies, many of which are performing well in the context of a surging retail interest, Mr Prasad said. The reference is clearly to the deals that have recently taken place in the financial services space. A few of these have involved leading international names.

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