StanChart Stake Hiked

Oct 25, 2010, 11:49 IST

The Foreign Investment Promotion Board (FIPB) in Jan 2010 cleared the Standard Chartered Group’s proposal to buy out the remaining 25.1 per cent stake in SCSTCI.  The Standard Chartered Group controls 74.9 per cent stake in SCSTCI (Standard Chartered-STCI Capital Markets Ltd). This 74.9 per cent stake is focused on broking, wealth management and investment banking services. 

The Foreign Investment Promotion Board (FIPB) in Jan 2010 cleared the Standard Chartered Group’s proposal to buy out the remaining 25.1 per cent stake in SCSTCI.  The Standard Chartered Group controls 74.9 per cent stake in SCSTCI (Standard Chartered-STCI Capital Markets Ltd). This 74.9 per cent stake is focused on broking, wealth management and investment banking services. When the Finance Minister gave his clearance the proposal can be considered to be finally passed.

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