Regulator approves registration as a Merchant Banker
B N Rathi Securities has received SEBI approval to register as a Merchant Banker under the SEBI (Merchant Bankers) Regulations, 1992.
- SEBI Registration No.
- INM000013581
- Registration Category
- Merchant Banker
- Regulation
- SEBI (Merchant Bankers) Regulations, 1992
SEBI has granted approval to B N Rathi Securities for registration as a Merchant Banker under the SEBI (Merchant Bankers) Regulations, 1992. The company has informed the exchange of this approval and enclosed a copy of the SEBI Merchant Banking Registration Certificate.
What the update states
- The approval has been received from the Securities and Exchange Board of India.
- The registration is in the category of Merchant Banker.
- The SEBI Registration No. is INM000013581.
- The intimation is signed by Hari Narayan Rathi, Managing Director.
What a merchant banker does
A merchant banker is a SEBI-registered intermediary that helps companies raise money from the market. This typically includes managing public issues such as IPOs and rights issues, acting as lead manager to an issue, and advising companies on capital-raising and related activities. The update notes the company's other services as Equity, Derivatives, Currency Futures, Internet Trading, Mobile Trading, Depository, Mutual Funds, IPOs and Loan Referral, so this registration sits alongside an existing securities-market business.
Why investors may take note
The approval permits the company to offer merchant banking services. Merchant banking is a fee-based activity, and the revenue it generates would depend on the mandates the company secures over time. The approval is a regulatory permission to carry on the activity, and the company has asked the exchange to take the information on record and update its records.
Perception
The update reads as a positive business development, since it adds a new licensed activity to the company's existing lines of business. The commercial scale of the opportunity would be visible as and when mandates are executed.
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