An Enormous Investment to be Made by Niraj Goel’s Group in India
The NRI businessmen based in Singapore Niraj Goel’s Clone Algo Group will be investing rupees 2000 crores in India, the investment will be made to establish and fund technological facilities during the next two years. Nitin Damodaran, CEO of company’s Las Vegas based group said that the group will be setting an R & D research facility; back office, as well as marketing channels here.
The money will be invested by Clone Algo Inc. by Goel in the middle of Round C of share placement worth 250 million American dollars. The group intends to make IPO on NASDAQ during the third quarter of 2015. The group was able to raise 90 million American dollars during the Round A and B.
Other than the huge investment, Clone Algo Inc. will also be introducing customized trading algorithms for Indian business community.Damodaran, the company’s CEO further said that the plans regarding Indian market are being finalized about adding research and marketing centers. The marketing team is also going to introduce the usage of algorithms for investing in structured products.
He further commended that a large percentage of Indian businessmen are beginning to take part in financial hedging tools on an international level. He also said that there have been discussions with high net worth individuals and Indian traders about the low risk trading associated with algorithmic trading.
SINGAPORE: Singapore-based Indian businessman Niraj Goel's Clone Algo Group will invest Rs 2,000 crores in new…bit.ly
