India Infoline Ltd, a domestic financial services major, is planning to float an Asset

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Management Company (AMC) and is focusing at non-broking activities in the financial services segment to protect its revenues during the crisis.

"We are planning for an AMC and we have already cleared the first stage of the regulatory approvals. The final nod could come anywhere between six to eight months," Director, India Infoline R Ventakaraman told PTI.

The AMC company would be floated with a paid up capital of Rs 10 crore, he added.

Ventakaraman said the company was also close to begin offshore fund management services based out of Singapore.

The financial services company said the brokering revenues account for about 60 per cent for the group and that segment had by around 40 per cent.

In order to stay afloat, it would focus at other services like wealth management, insurance brokering and investment banking. It has tied up with LIC, Reliance General Insurance, ICICI Prudential, Max New York Life and Letlife for insurane product distribution.