Lehman Brothers Securities has obtained permission from the Foreign Investment Promotion Board (FIPB) to trade in government securities. The financial sector giant plans to invest Rs 225 crore here through a number of downstream subsidiaries, which will directly trade in securities. The downstream subsidiaries of Lehman Brothers will also take up underwriting, merchant banking and other financial services, apart from functioning as primary dealerships (PDs) for trading in government securities.
Read The Economic Times article.
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