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Nilanjan Dey

Kolkata , July 11

IDBI Capital Market Services Ltd (ICMS), which mainly caters to institutional clients, is set to enter into retail broking services in a concerted manner.

The company, a subsidiary of IDBI, has zeroed in on retail services as part of its overall growth plans, Mr V.P. Shetty, Chairman of IDBI, said, adding that the retail segment is expected to provide it with adequate growth opportunities in the coming days.

The past fiscal, given the market dynamics, had posed big challenges for ICMS. These originated largely because of developments taking place in the Government securities arena. ICMS is a major player in the G-secs market in its capacity as a primary dealer (PD).

ICMS, a member of both the NSE and the BSE, currently claims to present "quality trade execution" to institutional clients. It is now setting up a portal, which will enable it to effectively diversify into the retail space, said Mr O.V. Bundellu, Chairman of ICMS. The portal is being tested before a formal launch takes place, he added.

The PD business seems to be turning for the better, Mr Bundellu, who is also an ED of IDBI, mentioned, adding that certain changes in investment habits of individuals - such as allocation to g-secs by retail clients - should also benefit the company in the long run. As is well known, retail participation in this market is negligible at the moment.

The company will continue to offer multiple services, including client asset management and distribution of financial products. ICMS will also step up efforts to act as an arranger in the private placement market for wholesale debt. It currently manages a substantial amount for various provident and pension funds.

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IDBI Capital Market plans retail broking

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