Business Standard

Ventura plans foreign expansion

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Shruti Sabharwal Chennai/ Bangalore
Stock broking firm Ventura Securities Ltd plans to open offices in New York and London next year. It already has an office in Dubai, set up two years back.
 
The company has applied to the regulator and wants to target both NRI investors and overseas institutions in the two cities. Ventura, however, said they would only offer online trading in foreign countries and would not go for offline trading.
 
Ventura Securities' director Sajid Malik said they also planned to tie up with an American company to offer commodities trading in New York. Malik, however, did not disclose how much the company would be investing in the overseas expansion and said all the funding would be internal.
 
The company on Thursday launched its online trading platform, Pointer, in Bangalore through which it hopes to double its clients in the next one year.
 
At present, the broking firm has about 200 offices across India with a client base of 50,000, which it expects to double this year. Pointer will be launched in Chennai and Hyderabad next.
 
The company recorded a turnover of Rs 45 crore in the 2006-07 fiscal, a growth of 35 per cent over the previous fiscal.

 
 

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First Published: Apr 20 2007 | 12:00 AM IST

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