IDBI Capital launches investment portal

NEW DELHI: IDBI Capital Market Services Ltd, a provider of financial services, has launched its online investment portal 'idbipaisabuilder.in', which allows investing online in Equities, Mutual funds and IPOs through a Paisa Power Classic account and Paisa Power Streaming account.

According to IDBI, Paisa Power Classic account is designed for new investors, while the Paisa Power Streaming account has been designed for the active investors having features like live streaming quotes tick-by-tick, multiple market watches, etc.

IDBI Capital MD and CEO S Muhnot said, “The portal is built with a core objective to provide easy and informed investing experience to investors. The target group is the retail investors who are expected to invest regularly though the amount will be small.”

Quoting figures, he said that Indian households have only two percent of their savings in stocks and debentures compared with a much higher average around the world. Thus a substantial scope exists for increase in investment in this asset class.

“With increased Internet penetration and information availability, we are launching this product targeting the small investors who are looking at new avenues to invest. The average daily turnover from online trading stood at more than Rs 700 crore as of September 2005, up from Rs 200 crore in March 2004. Currently, 11 percent of NSE turnover is online now, as compared to five percent a year and a half back,” Muhnot said.

The portal, idbipaisabuilder.in, helps retail investors make the right decisions on their transactions by imparting pertinent news, information and analysis through Reuters, Business Standard and Moneycontrol.com along with company specific Fundamental Analysis through corporate data from CMIE and MyIris.

The portal also has facilities of investing on BSE in addition to the existing NSE, advanced portfolio tracker, custom stock screener and e-mat, the online demat account, apart from the comprehensive information and analytical tool.

Apart from the online medium, IDBI capital also plans to appoint around 350 franchisees in the next year and a half who would undertake transactions on behalf of investors who do not have larger access to the net.

“The information provided on the site would be free, while Rs 700 will be charged as registration fee. This includes legal charges of Rs 360. Broking charges will be levied as a when the transactions take place. Futures and options (F&O) trading facility will be launched in the next three months while commodities trading is also in the pipeline following the nod from RBI,” said Muhnot.