What is merchant banking ?
Merchant Banking:
Dictionary meaning of "merchant bank" refers to an organization that underwrite corporate securities and advises such clients on issues like corporate mergers etc.involved in the ownership of commercial ventures. This organization may be a bank, corporate body, firm or proprietary concern.
In Indian context this defi donition suits well. Merchant banking in Indian started with management of public issues and loan syndication and has been slowly and gradually covering activities like project counseling, portfolio management, investment counselling and mergers and amalgamation of the corporate firms. Although merchant banking organizations present a long list of services which they contemplate to render to their clients, the main service so far being rendered by them are those as authorized by the securities & exchange board of India under categories I,II,III and IV. Rules, 1992 as "any person who is engaged in the business of issue management either by making arrangements regarding selling, buying or subscribing to securities as manager, consultant,advisor or rendering corporate advisory service in to such issue management."
Dictionary meaning of "merchant bank" refers to an organization that underwrite corporate securities and advises such clients on issues like corporate mergers etc.involved in the ownership of commercial ventures. This organization may be a bank, corporate body, firm or proprietary concern.
In Indian context this defi donition suits well. Merchant banking in Indian started with management of public issues and loan syndication and has been slowly and gradually covering activities like project counseling, portfolio management, investment counselling and mergers and amalgamation of the corporate firms. Although merchant banking organizations present a long list of services which they contemplate to render to their clients, the main service so far being rendered by them are those as authorized by the securities & exchange board of India under categories I,II,III and IV. Rules, 1992 as "any person who is engaged in the business of issue management either by making arrangements regarding selling, buying or subscribing to securities as manager, consultant,advisor or rendering corporate advisory service in to such issue management."
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