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Stock Holding Corporation of India (SHCIL) on Tuesday said it has received the approval from GIFT SEZ Authority to start its custodial services at International Financial Services Centre (IFSC) in the GIFT City. Stock Holding Corporation is a leading custodian and has assets under custody to the tune of $540 billion, with over a 22 per cent market share.
Going forward, SHCIL, through its IFSC GIFT branch, plans to extend its full range of custodial services to a wider audience of international investors (FPIs and FDI), other classes of investors and capital market intermediaries, the company’s MD and CEO Ramesh N G S said in a statement.
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