India’s Religare expands into Philippines
04 March 2013
News, Asia, India, Philippines
By Asia Asset Management
Religare Capital Markets, a subsidiary of one of India's leading diversified financial services group, Religare Enterprises, said it has been awarded a business representative license from the Philippine Securities and Exchange Commission.
The move is part of the group's expansion strategy for the Asian emerging markets. Managing Director and Head of Investment Banking Sutha Kandiah said the initial focus would be on equity markets and financing related transactions for fast growing clients in the country.
He added: “Religare Capital Markets’ latest expansion is a logical extension of the work we have been doing for our clients in the Philippines. We’ve seen the volume of transactions we handle for them increase in tandem with the growth of the Philippines economy.
“The country is indeed one of the world's unfolding success stories. With strong economic growth between 6 and 7%, stable political situation and strong investment flows, the Philippines represent an attractive proposition to global investors.”
Mr. Kandiah said Religare Capital Markets’ equity research team plans to continue to deepen its coverage of mid-cap, fast growing companies on the Philippines Stock Exchange.
On the investment banking side, Mr. Kandiah, said: "Religare has set its sights on the potential in the consumption-related sectors, such as retail, education and healthcare and also energy and resources. We will target capital raising for companies that are private or new issues or existing companies that are currently lacking visibility and suffer from low liquidity."
Religare Capital Markets is an Asia-focused emerging markets investment bank, offering a full suite of M&A advisory, equity capital market products and private placements. With a presence in over ten countries, it has offices in India, Singapore, Hong Kong, London and Dubai and a joint venture in Sri Lanka.
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