IDBI Capital plans 350 franchisees for its portal

IDBI Capital Market Services Ltd, a 100 per cent subsidiary of Industrial Development Bank of India (IDBI), is planning to build a team of franchises to support its investment portal - idbipaisabuilder.in.

Announcing the launch of its online trading portal in Hyderabad, Sushil Muhnot, managing director and chief executive officer, IDBI Capital Market Services, said, "We will be building a team of 350 franchises in two years to help those people who cannot access the internet and yet want to use our services."

The franchisee team will interact with clients over phone and will execute their orders through the portal. "We will start setting up the team in the next two or three months. Andhra Pradesh will have around 25 such franchises," Muhnot said.

About the portal, Muhnot said that only two per cent of the household savings in the country were invested in equities, in spite of the returns being more than 18 per cent in the last 25 years.

"This is because of the perceived risk in this sector. However, with our portal, we are looking at making investment decisions easy and informed," he added.

The portal features profit and loss account and balance sheet of 4,500 listed companies, opinions of 15 broking houses besides a portfolio tracker for the user.