Financial Daily from THE HINDU group of publications
Tuesday, Jul 05, 2005
Money & Banking
Allianz Securities scouting for global tie-ups
New Delhi , July 4
THE Delhi-based Allianz Securities Ltd, one of the largest arrangers of debt for PSUs and State-level FIs, is looking at forging tie-ups with foreign investment firms. It is in talks with some Japanese and Singapore firms and hopes to seal a deal shortly.
Speaking to Business Line, Mr N.S. Sobti, Managing Director of Allianz Securities, said: "Some international firms have shown interest and due diligence is being carried out. It is premature to give any names at this point of time. But there are several smaller boutique firms that are also eyeing opportunities in India."
He added that the tie-up would be completed in the next six months.
Mr Sobti said that the partner should enable Allianz to access international markets.
Several Indian companies are looking for funds from the overseas markets and Allianz hopes to capitalise on this trend.
"The joint venture partner must know the international regulations and have a presence in some of the key markets."
All big companies already have tie-ups with US-based investment firms.
On the domestic front, Allianz is looking at increasing its presence by associating itself with some large-sized issues.
It is the lead arranger for three book-building issues - Gujarat Industrial Power Corporation, EduCom, and Kernex System Ltd - that seek to raise about Rs 500 crore from the market.
Allianz Securities has been ranked as the single largest player in arranging debt for State-level FIs and undertakings, with a total mobilisation of Rs 2,300 crore constituting about 66.4 per cent of the total funds arranged.
It was also associated with major offerings of Food Corporation of India, Power Grid Corporation of India, and Power Finance Corporation.
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