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.

Updated on: May 25, 2010, 22:45:51 IST

PTI | By HT Correspondent, Kolkata

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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.

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