Collins JV eyes institutional broking

Collins Stewart Inga, a joint venture between UK's leading brokerage and investment banker Collins Stewart Group and India's Inga Advisors, is entering the booming institutional broking space in the country.

The institutional broking business will operate through a separate 50:50 joint venture between the two partners, Joel Plasco, CEO of Collins Stewart said. The existing joint venture is for investment banking and corporate advisory services.

The UK-based firm is also planning to register itself as a foreign institutional investor with the Securities and Exchange Board of India and is simultaneously exploring opportunities in wealth management and private equity in the country.