e-Serve International Ltd., formerly known as Citicorp Securities & Investments (CSIL) was incorporated as Havelock Leasing and Finance in Sep.'84 and was renamed in Oct.'91. The company was promoted originally by the V B Desai group and later taken over by the Citicorp Overseas Investment Corporation (COIC).
The company came out with a Rs 8 crore public issue in June 1992 to part-finance premises and infrastructural facilities, operations and processing systems, communication networks and stock broking operations.
CSIL is currently engaged in providing transaction processing services across a rang of process to the financial service industry. The subsidiary of CSIL - Citicorp Credit Services India, also providing services to the same clients. In order to gain synergies, the company has merged with Citicorp Credit Serivces India Ltd with effect from 1st July,2000. In accordance with the said scheme, 16,00,000 equity shares of Rs10/- each are to be issued to the shareholders of CCSIL, in the ratio of four shares of the company for every five shares held in CCSIL.
Further with effect from January 2001 the company has changed the name of the combined entity from 'Citicorp Securities & Investments' to 'e-Serve International' due to shift the business focus from a Non-banking Finance company to the provider of sophisticated processing services to a global set of customers.
Moreover the company has discontinued NBFC activities under the Reserve Bank (Non-Banking Financial Companies) Directions, 1977. During 2001-02 the company has planned to set up a International Call Centre with a capacity of 400 agents. During 2001-02 the company has set up its new internationl call cener in Mumbai with a capacity of 400 agents. It has also acquired premises in Chennai and also in the process of expanding business in Mumbai. The company has developed processing and call center capabilities in handling various financial products.
During 2004-05 the company has expanded its seating capacity about 7500 seats and with this the total office space has increased upto over 6 lakh sq.ft. Further the company has planned to expand its services to its existing clients by adding new delivery capabilities and also enlarge its global footprint and this purpose the company has already started the work on the premises & Telecommunications expansions in Mumbai and Chennai,which will add in excess of 4 lakh sq.feet of office space.