AnandRathi to expand network to 300 locations

AnandRathi, a leading financial securities group, opened its Andhra Pradesh regional office in Hyderabad on Monday.

Speaking to the media after the inauguration of the regional office, Anand Rathi, chairman of the group, said, "The group plans to expand the network to 300 locations by the end of December 2006."

The company currently has branches across 19 states and plans to expand its presence to every state capital. The group, with services extended to Dubai and Bangkok, was established in 1994 in Mumbai to provide broking services to customers. Today, it handles an advisory portfolio of approximately Rs 10,000 crore that includes a mutual fund portfolio of Rs 3,000 crore.

The group's institutional clientele include industrial groups, multinationals, corporates, banks and financial institutions. It provides global wealth management services to individuals or families across India, Middle East and Southeast Asia with minimum investible assets of $1 million. With 30,000-plus clients nationwide and a network of 175 branches, the group's daily turnover in equities is about Rs 100 crore.

AnandRathi provides financial services related to investments in equities, derivatives, commodities, depository services, insurance broking, mutual funds and investment banking under three broad divisions "� global wealth management, investment banking, and brokerage and distribution.