Geojit
Geojit BNP Paribas Financial Services (NSE: Geojit)is a retail STOCK broking company in India with a strong presence in the Gulf. The company has over 21 years experience in The INDIAN capital market, is listed on both the National and Bombay Stock Exchanges and offers a wide repertoire of products. Geojit BNP Paribas is a cash equity and derivatives broker with extensive experience in Portfolio Management Services and the distribution of financial products: mutual funds and life insurance.
History
Mr. C.J. George and Mr. Ranajit Kanjilal founded Geojit as a partnership firm in the year 1987. In 1993, Mr. Ranajit Kanjilal retired from the firm and Geojit became the proprietary concern of Mr. C .J. George. In 1994, it became a Public Limited Company named Geojit Securities Ltd. The Kerala State Industrial Development Corporation Ltd. (KSIDC), in 1995, became a co-promoter of Geojit by acquiring a 24% stake in the company, the only instance in India of a government entity participating in the equity of a stock broking company. Geojit listed at The Stock Exchange, Mumbai (BSE) in the year 2000. In 2003, the Company was renamed as Geojit Financial Services Ltd. (GFSL). The board of the company consists of professional directors; including a Kerala Government nominee with 2/3rd of the board members being Independent Directors. With effect from July 2005, the company is also listed at The National Stock Exchange OF India (NSE). Geojit is a charter member of the Financial Planning Standards Board of India and is one of the largest DP brokers in the country.
In March 2007, BNP Paribas had taken 27% stake in Geojit, which will eventually increase to 34.35%. With this final step, BNP Paribas, one of the top three financial institutions in the world by credit rating has become the largest shareholder in Geojit Financial Services LTD.
With this take over Geojit has become Geojit BNP Paribas Financial Services LTD in April 2009. Currently Geojit BNP Paribas has more than 500 branches, 4.7 lakhs clients and offers services in Equities, Futures and Options, Mutual Funds, Life and General Insurance, Portfolio Management Services, Loans against shares.
Milestones
- 1986 Membership in Cochin Stock Exchange (CSE)
- 1994 Becomes a Public Limited Company named Geojit Securities Ltd.
- 1995
- Kerala State Industrial Development Corporation Ltd.(KSIDC) acquires 24% equity stake
- Membership in National Stock Exchange(NSE)
- Public Issue
- 1996 Launch of Portfolio Management Services with SEBI registration
- 1997 Depository Participant(DP) under National Securities Depository Limited
- 1999 Membership in Bombay Stock Exchange (BSE)
- 2000
- BSE Listing
- 1st broking firm in India to offer online trading facility
- Commences Derivative Trading with NSE
- Establishes the 1st Bank Gateway in the country for Internet Trading
- 2001
- Becomes India's first DP to launch depository transactions through Internet
- Establishes Joint Venture in the UAE to serve NRI customers
- 2002 Integrates the 1st Bank Payment Gateway in the country for Internet Trading
- 2003 Company renamed as Geojit Financial Services Ltd.
- 2005
- NSE Listing
- Geojit Credits, a subsidiary, registers with RBI as a Non-Banking Financial Company (NBFC)
- 2006 Charter member of the Financial Planning Standards Board of India
- 2007
- BNP Paribas takes a stake in the equity of Geojit, making it the largest shareholder
- Establishes Joint Venture in Saudi Arabia to serve the Saudi national & the NRI
- 2008
- Established BNP Paribas Securities India (P) Ltd. – a Joint Venture between BNP Paribas S.A.and Geojit Financial Services for Institutional Broking.
- 1st brokerage to offer full Direct Market Access(DMA) execution in India for institutional clients.
- Established Joint venture in Saudi Arabia to Serve the Saudi National & NRI.
- 2009
- Launch of online Currency Derivatives trading.
- Renaming of Geojit into Geojit BNP Paribas in April 2009.
Board of Directors
- Mr. A. P. Kurian Non - Executive & Independent Chairman
- Mr. C. J. George Managing Director & Chief Promoter
- Mr. P.H.Kurian Non - Executive Director
- Mr. Mahesh Vyas Non - Executive & Independent Director
- Mr. Olivier Le Grand Non Executive Director
- Mr. Pierre Rousseau Non Executive Director
- Mr. Rakesh Jhunjhunwala Non - Executive Director
- Mr. Ramanathan Bupathy Non - Executive & Independent Director
- Mr. Punnoose George Non - Executive Director
Key Figures for FY2007-2008 (1st Apr.’07 to 31st Mar.08.)
- Revenues: Rs.237.78 crores (USD 59.45 mln)
- Profit After Tax: Rs.58.64 crores (USD 14.66 mln)
- Stock Market capitalization: Rs. 959.27 crores (USD 239.8 mln)as of 31st Mar.’08
Subsidiary Companies
- Geojit Credit (P) Ltd
- Geojit Technologies (P) Ltd.
- Geojit Distribution (P) Ltd.
- Geojit Financial Management (P) Ltd
- Sigma Systems International FZ LLC
Overseas Joint Ventures
- Barjeel Geojit Securities, LLC, Dubai, is Geojit BNP Paribas’s joint venture with the Al Saud Group. The Al Saud Group which belongs to Sultan bin Saud Al Qassemi has diversified interests in the areas of equity markets, real estate and trading. Barjeel Geojit is a financial intermediary and the first Indian licensed brokerage company in UAE. It has facilities for off-line and on-line trading in the Indian capital market and also in US, European and Far-Eastern capital markets. It also provides Depository services and deals in Indian and International Funds. An associate company, Global Financial Investments S.A.O.G provides similar services in Oman.
- Aloula Geojit Brokerage Company, is Geojit BNP Paribas’s joint venture in Saudi Arabia with the Al Johar Group. Saudi is home to one of the world’s largest NRI populations. The company enables both the Saudi national and the NRI to invest in the Saudi capital market. The NRI can also invest in the Indian stock market and in Indian mutual funds. This joint venture makes Geojit BNP Paribas the first Indian stock broking company to commence domestic retail operations in any foreign country and the first foreign retail stock broker to start domestic retail operations in the Kingdom..The company executed its first trade on the Saudi Stock Exchange on November 10th.
Overseas Business Association
- Bank of Bahrain and Kuwait (BBK), one of the largest retail banks in Bahrain & Kuwait through its NRI-Business, and Geojit BNP Paribas entered into an exclusive agreement in September 2007. This association provides the bank’s sophisticated client base, the opportunity to diversify their holdings through investments in the Indian stock market. Services offered are- Investment Advisory, Portfolio Management, Mutual Funds, Trading in Indian Equity Market, DEMAT and Bank account, Offline Share Transactions and PAN Card.
Registered Office: 5th Floor, Finance Towers, Kaloor, Kochi 682017, Kerala, India. Phone: + 91 484 2405501/2, Fax: + 91 484 2405618. SEBI registration Nos.: NSE:INB/INF/INE 230806739 | BSE: INB/INF 010806736 | NSDL: IN-DP-NSDL-24-97 | Portfolio Manager: INP000000316