The Hindu Business Line : JRG Securities thrives on Baring partnership

Kochi, Nov. 23 The Kochi-based JRG Securities has registered an impressive all round growth in terms of product diversification, branch and staff strength besides modernisation of its operations during the past one year under the partnership of Baring Private Equity Partners (India) Private Ltd.

An additional investment of Rs 100 crore had been pumped in by the new management to take care of the company’s growth requirements. These included opening of new branches, infusion of professional talents to head various sections, opening of NBFC operations and commencement of insurance internet trading in a big way.

Disclosing this to reporters, Mr Munish Dayal, Partner, Baring Private Equity Partners (India) Private Ltd said his company, which had 46 per cent share in JRG, was aiming at achieving both organic and inorganic growth for JRG in the coming years.

Southern spice

JRG, he said, would soon spread its operations to other southern states such as Karnataka, Tamil Nadu and Andhra Pradesh on concentrate mainly on the middleclass investors in tier two and three cities for the time being. The intention is to concentrate in South India in the next two years to attain leadership in the South. Another area of interest is the West Asia countries, which is going to be a major business centre of JRG shortly, he said.

Both JRG Securities and its subsidiary, JRG Wealth Management Ltd, had come under the new management. Our share in JRG, which was 46 per cent at present, could go up to 63 per cent, according to the agreement while the sponsor’s share was limited to 26 per cent, Mr Dayal said.

Seeing opportunity

The way JRG is growing at present, despite adverse market conditions prompted by the prevailing economic slow down, it was destined to establish itself as a customer centric/focussed institution where advise on financial planning of the customers would gain precedence over product sale, he added. Referring to the recent stock market crisis, he said this is an opportunity to attain a market share and to make the company a high quality financial service firm.

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