NEW DELHI: Morgan Stanley is putting Rs 100 crore into its Indian retail stock broking and portfolio management services firm Morgan Stanley
India Financial Services (MSIFS), reports Paramita Chatterjee.
It is also restructuring the group’s shareholding in MSIFS, where 75% equity will be held through a Mauritius-based subsidiary Morgan Stanley Mauritius Company (MSMC).
MSIFS is into investment advisory, retail stock broking, distribution activities and portfolio management services. It also operates as a stock broker, portfolio manager and depository participant. The firm recently launched private wealth management services, primarily for the high net worth individuals (HNI) and non-resident Indians (NRI). Under the FDI policy, 100% FDI is allowed under automatic route in these activities.
Morgan Stanley holds 99.99% in MSIFS through its Indian subsidiary Morgan Stanley India Company (MSIC). MSIC was established in 2007. The remaining 0.01% is held through its other Indian subsidiary Morgan Stanley India Services (MSIS).
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