Religare enters Philippines’ joint venture

The Indian financial services group has linked up with FSG to snag more mandates from mid-sized companies looking to raise capital on the country’s soaring stock market.
Manila skyline
Manila skyline

Indian financial services firm Religare Enterprises has sealed an investment banking partnership with Manila-based FSG Capital to help mid-sized companies in the Philippines raise capital as the stock market soars.

While the Philippine Stock Exchange logged some hefty equity placements last year, all of the initial public offerings were in the small- to mid-cap space. There were a total of five IPOs during 2014 with an average size of just $63 million. 

Religare’s investment banking unit Religare Capital Markets led by Sutharshan Kandiah signed the memorandum of agreement with FSG Capital, to beef up its platform in the Philippines. Religare said the tie-up is the...

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