Invest Shoppe sets up office in Jalandhar

Invest Shoppe, one of the country's leading wealth management companies, yesterday forayed into the Punjab market and opened its first branch in the state, in Jalandhar.

The company will provide access to financial solutions like stock broking, insurance, and mutual funds to the people from Jalandhar and its adjoining areas.

Punjab Minister for Food, Civil Supplies and Consumer Affairs Avtar Singh Henry inaugurated the branch.

Speaking to Business Standard, Invest Shoppe CEO Ashish Kapur said traditionally people in Punjab invested a very small part of their surplus in the capital markets.

"Real estate, fixed income, and government-backed instruments have been the investment choices of people here. Even in major cities of the country, less than 2 per cent of the people plan investments. Gujarat leads in the number of people investing in the stock market, followed by Maharashtra and Rajasthan. The Punjab market is still under serviced and is almost virgin territory. With the opening of the branch in Jalandhar, Invest Shoppe will fill this gap and offer a host of financial services."

Jalandhar, the tenth-richest city of the country (Chandigarh is number one), is also famous for its internationally acclaimed sports goods industry and has a large number of small and medium enterprises. and a flourishing middle class.

Kapur said one should invest in the stock market for at least three years.

"Even if there is slump in the stock market, it ought to come back to normal in three years. And most importantly, one should never invest his money at one time only. He should invest it in stages."

Discussing his firm's plans, Kapur said: "We are planning to open at least 20 Invest Shoppe branches in the country and at least six of them will be in Punjab. Currently, we have three branches in New Delhi and one in Mumbai."