BUSINESS

India Infoline to expand

Corporate Reporter

CHENNAI: India Infoline, a leading retail investment advisory and intermediary company, is planning to expand its network by setting up 77 branches additionally in 50 cities. The company has 73 branches at 36 locations at present.

Speaking to presspersons here on Saturday, in connection with the company's public issue, R. Venkataraman, Director, said the plan was to have 150 branches to further strengthen its operations.

The company's online portals `Indiainfoline.com' and `5paise.com' were well known brands among retail investors, he said.

To part finance the expansion programme and upgrade the existing infrastructure, the company is raising resources through the issue of 1.18 crore equity shares of Rs. 10 each at a price band of Rs. 70-80 per share to the public. The issue, made through 100 per cent book-building route, will be open for public subscription from April 21 to 27.

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