Aditya Birla Money Ltd, formerly known as Apollo Sindhoori Capital Investment Ltd is a leading player in broking space. The company is principally engaged in the business of stock broking and related activities. They have one subsidiary company, namely Apollo Sindhoori Commodities Trading Ltd.
The company offers services such as, trading facility in equity segment on and derivative segment on NSE & BSE through a single screen; trading facility in commodity segment, including bullion, oils, gaur seed etc through their subsidiary; depository Participant services of NSDL and CDSL at major locations; Online bidding for IPO and distribution of mutual fund.
The company is headquartered in Chennai. They are having a strong distribution network of over 221 own and 687 franchisee branches, a large customer base in excess of 175,000 and a scalable business model based on a strong technology backbone and a wide product mix.
Aditya Birla Money Ltd, a part of Aditya Birla financial Services Group was incorporated in the year 1995 as Apollo Sindhoori Capital Investment Ltd. Earlier, the company was promoted by Prathap C Reddy,Chairman of Apollo Hospitals Group. In March 2009, the company became a part of Aditya Birla Group, when the group acquired 76% of the company.
The company commenced their operations in Chennai in the year 1996. They spent their initial time in establishing and consolidating their presence throughout South India. Until 2001, they established their presence in 13 locations throughout the South India. Within four years, they established their presence in over 350 locations all over the country.
During the year 2004-05, the company added 106 new offices all over the country. Their subsidiary Apollo Sindhoori Commodities Trading Ltd started their expansion through the branches of the company and during the year, the subsidiary was operating from 100 locations.
During the year 2005-06, the company added 120 new offices and the client base rose to 77,000 from around 45,000 of previous year. During the year 2006-07, they added 71 sub-broker offices and 51 branches and the number of customers has gone up by 22780.
During the year 2007-08, the company added 237 offices and the client base stands at over 159,000 recording an impressive growth of 49% from around 107,000 of previous year. During the period, the number of offices has correspondingly gone up from 561 to 798 and the number of own branches growing from 168 to 197.
The company's subsidiary, Apollo Sindhoori Commodities Trading Ltd introduced Systematic Gold Saving Scheme for purchase of gold by investors through Commodity Exchange. The scheme was initially launched in Tamilnadu and latter the scheme was launched all over India.
During the year 2008-09, the company added 43 new branches including 18 offices placed in the premises of Birla Sun Life Distribution Ltd. The active sub-broker offices rose from 539 to 580 during the year.
In August 28, 2008, the company entered into Share Purchase Agreement with Aditya Birla Nuvo Ltd for sale of 56% equity shares of the company. Pursuant to this agreement, Aditya Birla Nuvo Ltd made an open offer for purchase of 20% equity shares of the company, which was completed on February 24, 2009. As a result, the company became a subsidiary of Aditya Birla Nuvo Ltd with effect from March 6, 2009.
The company changed their name from Apollo Sindhoori Capital Investments Ltd to Aditya Birla Money Ltd with effect from August 3, 2009.