Indbank Merchant Banking Services Ltd Company Summary

Indbank Merchant Banking Services Ltd Summary

Indbank Merchant Banking Services Limited was incorporated in August, 1989 as a subsidiary of the Indian Bank. Indbank is the first and the only public sector merchant banking subsidiary in the country to go public. The Company is engaged in Merchant Banking, Stock Broking, Depository Participant and allied activities. The Company is a member of NSE (Equity, Derivatives & Debt segments), BSE (Equity), MCX-SX (Equity & Derivatives) and registered with NSDL as a Depository Participant. Company is registered with Association of Mutual Funds of India (AMFI) for distribution of Mutual Fund products. The Company has a comprehensive package of services like issue management, leasing and hire purchase, loan syndication, merger and acquisitions, stockbroking, treasury management, portfolio management, etc. Indbank has the distinction of being the first institutional member of the Madras Stock Exchange. It has opened odd-lot trading counters and investment counselling centres to cater to the growing requirements of investors. It is a member of the OTCEI. Together with Martin Currie, UK, Indbank launched an open ended off-shore fund, taking the total corpus to US $ 187 mln. It has also launched the countrys first specific sector off-shore fund -- Schroder Indian Communication Fund in collaboration with Schroder, a leading investment banker in the UK. With the discontinuance of fund based activities consequent to the SEBI regulations coming into force, the Company has stopped accepting fresh/renewal of fixed deposits with effect from December 1997 and aggregate deposits accepted from public as on 31.03.2000 amounted to Rs. 24.16 crores. The Company is continuously taking steps for repayment of these deposits.The Company during the current year 2007-08 opened new branch offices at Hyderabad and Puducherry increasing the number of branch offices to 10.The Company during the current year 2008-09 opened new branch offices at Erode, Trichy, Pune, Ernakulam, Tuticorion, Salem, Mangalore and Vellore increasing the number of branch offices to 18. In addition to branches, it established 19 CTCL terminals in various places.During the year 2009 -10, the Company opened new branch offices at Thanjavur, Visakhapatnam, Calicut and Cuddalore increasing the number of branch offices to 22. In addition to branches, it established 38 CTCL terminals in various places.