Emkay Global Financial Services Ltd

Emkay Global Financial Services Ltd

Emkay Global Financial Services Ltd is an India-based company. The company operates through Advisory and Transactional Services segment which comprises broking and distribution of securities investment banking and other related financial intermediation services. They have three wholly owned subsidiaries namely Emkay Fincap Ltd Emkay Commotrade Ltd and Emkay Insurance Brokers Ltd.Emkay Global Financial Services Ltd was incorporated on January 24 1995 as a private limited company with the name Emkay Share and Stock Brokers Pvt Ltd. The company was promoted by two enterprising Chartered Accountants Krishnakumar Karwa and Prakash Kacholia. In the year 1996 the company acquired the membership of BSE and commenced equity broking. In the year 1996 they got membership of NSE and commenced equity broking. In the year 2000 they executed first trade in Sensex Futures and Sensex Options. During the year 2005-06 Emkay Fincap Ltd became a subsidiary company. In October 20 2005 the company was converted into public limited company and the name was changed to Emkay Share and Stock Brokers Ltd. In January 5 2006 the Emkay Commotrade Ltd became a wholly owned subsidiary company. In the year 2006 the company came out with the IPO and got listed on the BSE and the NSE. During the year 2006-07 the company incorporated a wholly owned subsidiary namely Emkay Insurance Brokers Ltd. In September 2007 the company's subsidiary Emkay Insurance Brokers Ltd received a Licence from the Insurance Regulatory and Development Authority to act as a Direct Insurance Broker.In the year 2008 the company launched the Investment Banking Business. In June 2 2008 the company changed their name from Emkay Shares & Stock Brokers Ltd to Emkay Global Financial Services Ltd. During the year 2009-10 the company applied for the membership of Currency Derivative segment of MCX Stock Exchange Ltd and acquired the membership on October 29 2009. They altered their main object clause of the Memorandum of Association to carry out the business of Investment Banking with the view to diversify their business activities in new areas of operation in addition to existing business activities.The company proposed to float a wholly-owned subsidiary in the name of Emkay Investment Managers Ltd to carry on the business of Portfolio Management Services (PMS)/ Wealth Management Services (WMS). Further they proposed to transfer their PMS/ WMS division to the proposed wholly-owned subsidiary.