INVEST WISELY: Sushil Muhnot, MD and CEO, IDBI Capital (right), and V. K.Saxena, Chief General Manager, IDBI at the launch of "idbipaisabuilder.in" in New Delhi on Wednesday. — Photo: Sandep Saxena

NEW DELHI: Financial services provider IDBI Capital on Wednesday launched an online investment portal to provide information, analysis and tips to retail investors to help them invest in initial public offerings (IPOs), equities and mutual funds.

"Idbipaisabuilder.in is for the retail investors who have missed out on the boom in Indian stock market. The site will concentrate on helping them in right decision making by minimising risk involved in equity investment," IDBI Capital CEO, S. Muhnot, said here.

Investors will be given unique bank, demat and trading accounts, which will be safe for carrying out trading.

"Investment information will be free to all. To carry out trading, an investor has to be a member by giving a one-time fee of Rs. 700 and thereafter only broking charges for trading in shares," Mr. Muhnot said.

The website will give information and analysis on markets, economy, corporates and specific sectors for which the company has tied up with Multex, a subsidiary of Reuters and the Centre for Monitoring Indian Economy. IDBI Capital has roped in top 15 broking houses to give recommendations to retail investors. "Our effort is to help small investors get better returns to bridge the gap in income and lifestyle," he said. Besides offering online guidance, IDBI Capital will open about 350 franchises in urban and rural areas to help investors who do not have access to Internet.

The portal has two platforms `Paisa Power Classic Account' for relatively new investors and `Paisa Power Streaming Account' for active investors in BSE and NSE. The company aims to introduce trading in commodities, futures and options (F&O) and debt instruments later. IDBI Capital is eyeing at pension foray when the government puts in place the legislation. "We have made presentations to the Pension Fund Regulatory and Development Authority (PFRDA). We are waiting for the PFRDA Bill to be passed," he said.

On inorganic growth, IDBI Capital ruled out buying UTI Securities, which is looking for a prospective buyer. "IDBI Capital is the largest primary dealer (PD) in government securities and provides a host of other financial services, so we are not buying into UTI Securities as we are already present in all the segments," Mr. Muhnot said.

Besides PD, IDBI Capital provides services such as investment banking, stock broking, bond trading, derivatives trading, mutual fund products selling and pension fund management. "The focus is now on moving from wholesale to retail foraying and idbipaisabuilder.in will be the vehicle to reach out to retail investors." — PTI

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