India Infoline gets provisional membership nod for Colombo Stock Exchange

India Infoline Ltd (IIFL) today announced that it has received the provisional membership approval from the Colombo Stock Exchange (CSE), Sri Lanka for stock broking.

This paves the way for India Infoline (IIFL) to be the first India-based broker to become a member of the CSE.

Speaking on the development, Mr. R Venkataraman, Executive Director of India Infoline Group said, "We are indeed pleased to receive this approval from Colombo Stock Exchange. India Infoline (IIFL) will move forward to set up a subsidiary, systems and infrastructure for commencing stock broking services in Sri Lanka within a short time. Our Sri Lanka operations will enable us to leverage on our technology, particularly proprietary internet trading platform, research capabilities and effectively cater to domestic and foreign investors in Sri Lanka."

Commenting on this new initiative, Ms. Priyani Ratna-Gopal, Chief of India Infoline (IIFL), Sri Lanka Operations, said, “Sri Lanka has emerged as a highly promising destination for growth and investments. India Infoline’s proven experience and strength will help in setting up the broking and investment banking business in Sri Lanka at a fast pace and participate in its growth.”