IDBI Capital Market Services Ltd (ICMS), a subsidiary
of IDBI, which has been catering mainly to institutional
clients, is now set to enter retail broking services.
to V P Shetty, chairman of IDBI, the company has zeroed
in on retail services as part of its overall growth
plans and expects the retail segment to provide it with
adequate growth opportunities in the coming days.
past fiscal had posed big challenges for ICMS, mainly
because of developments taking place in the government
securities arena where ICMS is a major player in its
capacity as a primary dealer (PD).
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. The
portal is being tested before a formal launch takes
place, ICMS officials said.
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