| The company, which has memberships in NSE and BSE, is currently operating 120 Vsat online trading terminal centres in Andhra Pradesh, Tamil Nadu, Karnataka and Orissa. Ninety per cent of the company's centres are located in Andhra Pradesh. |
| "We have taken this decision at our recent board meeting. We have already started the process of going in for the public issue, and the size of the proposed public issue will be more than Rs 40 crore," G Rajagopal Reddy, executive director of Steel City Securities Limited, told Business Standard. |
| "Due to the dwindling of broking commission margins day-by-day, we have to increase our trading turnover to earn more revenue. With the current infrastructure, there is not much scope to enlarge our trading turnover. The only way to get more trading turnover is to expand the operations across the country by opening new trading terminals. For this, we need money to set up the terminal. We are, therefore, going in for the public issue," he said. |
| With the present 120 terminal centres, Steel City Securities has been achieving a daily trading turnover between Rs 100 and Rs 120 crore. Initially, it has planned to increase the number of terminal centres to 250 by the end of March 2006. |
| However, after the public issue proposal, the company has resolved to operate not less than 300 terminal centres across the country by end of the next fiscal. |
| "If we operate 300 terminals, our daily trading turnover will touch Rs 500 crore," he said. |
| Steel City Securities Ltd has earned a net profit of close to Rs 8 crore last fiscal. It is aiming at earning a net profit of Rs 10-12 crore in the current fiscal. |
| "Before going in for a public issue, we are going to amalgamate our three companies "� Steel City Securities Ltd, Steel City Capital Services Ltd and Steel City Holding Ltd "� into one company," he added. |
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