In response to SEBI’s latest initiative to extend the benefits of the secondary market to Mutual Fund investors in buying and selling units, Stock Holding Corporation of India Ltd (SHCIL) has rolled out this new facility through its branches spanning across the country.
The new service provides an avenue for subscription and redemption of Mutual Fund units through the BSE STAR Platform in demat mode. The service has been launched by SHCIL through its subsidiary SHCIL Services Ltd (SSL). SSL is a SEBI registered Member of BSE as well as NSE and has been providing Broking Services to more than a lakh retail customers through the branches of SHCIL.
As per regulatory requirements, clients desiring the new service will have to execute necessary KYC documents and have a demat account. SHCIL is also one of the largest DP in the country offering demat & custodial services and third party distribution of financial products.
SSL is among the early entrants to be registered for BSE Star MF Platform thus extending a new opportunity for Mutual Fund investors across the country. Through SHCIL’s 208 branches, Mutual Fund investors are poised to take the benefit of the dynamic and efficient stock exchange system for transacting in Mutual Fund units. Investors opting for the new facility will benefit from receiving a unified statement for their holdings and transactions in various mutual funds along with all other demat securities such as shares, debentures, bonds etc.
SHCIL looks forward to this exciting opportunity of partnering in the prosperity of Mutual Fund investors as well as acting as a catalyst for new age progressive revolution of the industry.
