Khandwala Securities to offer retail financial services

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New Delhi, Jan 3: Khandwala Securities Ltd (KSL) today said it plans to enter the fast growing Retail Financial Services space and its Board has decided to set up a subsidiary Company for the proposed new business venture.

The new company will be headquartered in Mumbai and the proposed business venture is targeted to commence its business operations by the end of the financial year 2007-08, said a statement. ''Financial services industry in India is undergoing a paradigm shift in terms of market and product choices available to investors. With the penetration level of retail investment participation in the country being under five per cent, the Retail Financial Services space offers a compelling opportunity for KSL to establish a niche presence for itself in this fast growing market segment,'' said company Managing Director Paresh J Khandwala.

KSL's Retail Financial Services business will be structured and designed to leverage the strength and expertise of the promoter company in the form of its market insight, research and execution.

The proposed Retail Financial Services business of KSL will provide a range of services to individual investors and include multiple business offerings from Retail Trading, Wealth Management to Product and Information Distribution.

UNI