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SMC ties up with South African firm


NEW DELHI: Domestic brokerage house SMC Group on Monday said South African financial giant Sanlam Group will invest Rs. 215 crore in the company for setting up wealth and asset management businesses through two joint ventures. Sanlam Investments, the investment arm of the South African group, would acquire about five per cent stake by way of warrants in the SMC Group for Rs. 155 crore, SMC Chairman S. C. Aggarwal told reporters.

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