To infuse $50 mn in brokerage arm | business | Hindustan Times
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To infuse $50 mn in brokerage arm

Standard Chartered will infuse $50 million (Rs 2,387 crore) in subsidiary UTI Securities after acquiring the remaining 26 per cent stake in the latter by the third quarter of 2010.

business Updated: May 25, 2010 22:45 IST

Standard Chartered will infuse $50 million (Rs 2,387 crore) in subsidiary UTI Securities after acquiring the remaining 26 per cent stake in the latter by the third quarter of 2010. “We will infuse a fresh dose of $50 million in Standard Chartered Capital Market (renamed from UTI Securities after takeover of majority interest to boost business,” sources said.