KMBL to launch pan-India operations
It expects to obtain the broking license of National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) required for the national launch by the end of June, 2008.
The merchant banker also plans to launch the portfolio management service in the country with major focus on the eastern states by June this year after acquiring the required license, K K Misra, chief executive officer (CEO), KMBL said.
Addressing an investors meet here, Mishra said, the company is providing merchant bankers services that include public issue management,debt and equity funding, project appraisal,loan syndication, project finance, portfolio management service, corporate and financial restructuring. It is also rendering investment advisory services like distribution of mutual funds and insurance products.
Mishra said, KMBL has direct access to large number of investors including banks, indian financial institutions, international financial institutions, mutual funds, large corporates and high networth individuals.
As Orissa is attracting huge investment into different sectors, the company will facilitate easy access to bank, institutional finance for the upcoming and the existing industries operating in the state. Similarly, presence of the merchant banker will encourage the industries operating in the state to get themselves listed on the bourses of the country.
Besides, the merchant banker can advise the state government on divestment of the existing units and helping the state government in bringing in more investors to Orissa.
"The collective advantage of our vast distribution network and resource mobilisation capacity gives us a unique edge, offering reliable financial solutions to our valued customers", Mishra pointed out.
As part of its branch expansion, the company has chalked out plans to open 30 more branches during the current fiscal.Out of it, 10 branches are proposed to be opened in different locations in Orissa.It includes commercially active towns like Cuttack and Rourkela.The merchant banker has already opened its regional office in Bhubaneswar.