Religare Securities broking house plan to public issue

Religare Securities ipoReligare Securities one of the largest broking houses (Indian share market), plans to go public in the next 12-19 month, The RSL broking house is looking at this timeline to give itself some room to restructure itself for the IPO (initial public offering).

The big vectors of growth for Religare Securities would be to focus on expanding the market and look at non-traditional products like gold exchange traded funds (ETFs), Chief Executive Officer, Mr Gagan Randev said.

Religare Securities(RSL) also sees buying and selling of mutual fund through exchanges as a big driver of growth and something that the company would be focusing on in the coming days. “Currently, RSL have 350 branches. But, we are not going to be as aggressive in opening up branches as in the past. The big growth for us is going to come from franchises. That (building franchises) is the model we are going to be focusing on big time.We (Securities)  currently have 1,200 business partners,” Mr Randev-Chief Executive Officer said.

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