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JRG Securities sets up unit in Dubai |
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4/14/2006 9:36:12 AM |
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Cochin-based JRG Securities, brokers in stocks and commodity markets, would set up a subsidiary in Dubai to assist Non Resident Indians in UAE invest in Indian stock markets.
The new company would secure the membership in Dubai stock exchange, the company's Director Gibi Mathew told reporters on Thursday.
It is also mulling on entering into a Joint Venture in UAE to conduct operations in stock exchanges in the Middle East, he said. The UAE partner would have a 60 per cent equity stakes in the company, he said.
He said the JRG had already secured membership in the Gold and Metal Exchange of UAE, which would help the company in the trade of precious metals.
The company has also planned to broadbase its operations in India, by setting up about 30 offices in Haryana, Gujarat, Madhya Pradesh and West Bengal, he said.
To fund the programmes, the company would come up with an IPO to net Rs.14.50 crore. The issue would open on April 17 and close on April 21, he said. |
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