CHENNAI: JRG Securities, a company carrying out the business of broking on the Indian equity and commodity markets, distribution of financial products, including mutual funds, and direct broking of life and non-life insurance through its subsidiaries, is raising funds through the issue of 36.25 lakh equity shares of Rs. 10 each at a premium of Rs. 30 per share aggregating Rs. 14.50 crore to the public for upgradation of the existing IT infrastructure, establishment of 30 new regional offices and for overseas expansion. The initial public offer opens on April 17 and closes on April 21.

Addressing presspersons here on Thursday, T. M. Venkataraman, Chairman, said the company currently had its presence in 310 trading centres in India which are supervised by 12 regional offices. It proposed to expand by establishing of 1,200 additional trading centres. The company, besides offline brokerage services, is offering online trading on the NSE and BSE and derivates trading on the NSE. It also offers commodities trading on the Multi-Commodity Exchange, National Commodities and Derivatives Exchange, National Multi-Commodity Exchange and Indian Pepper and Spice Trade Association. It will also be providing facility to conduct real time commodities trading through specific mobile phones.

The service has been developed and launched in collaboration with Financial Techno-logies India and Nokia. This service has been launched in Kerala and the company plans to extend the facility to client in other states in a phased manner over the next year.

The company plans to form a wholly owned subsidiary and a limited liability company in Dubai. It is seeking necessary membership and approvals to commence capital market operations in the Middle East and secure membership of the DGCX. (Dubai Gold and Commodities Exchange).

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