Kolkata: 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.

According 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.

The 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).

ICMS, 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.

The 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 funds.