The Securities and exchange board of India (SEBI) has granted merchant banking license to Birla Capital & financial services. The license would facilitate the company to offer a wide range of on-shore banking advisory and underwriting services in the Indian market.

Merchant banking deals with activities like offering financial services and advice to corporations and wealthy individuals. The term can also be used to describe Private equity (PE) activities of banks.

The company is part of the 3,000-crore Yash Birla Group that has presence in sectors like auto & engineering, textiles & chemicals and power & electricals, education & IT.

With the help of this licence, the company says, that it would concentrate on services like initial public offerings (IPOs), takeovers, buybacks, delisting, valuations, PE Syndication, M&A (Mergers and acquisitions) advisory and other corporate advisory.

In January this year, Yash Birla Group acquired a majority stake in Kerala Vaidyashala, aleading Ayurvedic chain, through a joint venture. The group will hold a 51 percent stake in the new entity. This is a part of group's foray into the health and wellness industry.