The Hindu : Business : JRG completes listing formalities with BSE

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Thursday, May 18, 2006

Business

Business

JRG completes listing formalities with BSE

Special Correspondent

36.25-lakh equity shares offered

KOCHI: JRG Securities Ltd., a stock, commodity and insurance broking company, has completed listing formalities with the Bombay Stock Exchange (BSE), says a press release here.

The listing ceremony will be held on Thursday at the Sinshaw Petit International Convention Hall of the exchange.

JRG Securities Ltd. went public on April 17, offering 36,25,000 equity shares of Rs. 10 each at a premium of Rs. 30 a share (issue price Rs. 40 a share), aggregating Rs. 14.5 crores. The issue, which closed on April 21, was oversubscribed by 4.47 times, the release says.

The issue attracted retail investors, non-residential Indians, companies, financial institutions, banks and foreign institutional investors.

JRG started trading in securities in 1992. The company became a member of the National Stock Exchange in 1999. It has been associated with National Securities Depository Ltd. from 2000 and has covered major milestones in the financial services industry, says the release.

JRG launched online commodity futures trading in June 2003 by extending an exclusive online rubber futures trading system to members of the Indian Rubber Dealers' Federation. Currently, the company has close to 400 branches, reporting to 12 regional offices.

Through the expansion to 30 regional offices, JRG proposes to increase its branch network to 1,200 and extend its reach across the country and abroad. The company also proposes to set up a limited liability company in Dubai to undertake stock market operations as well as establish a wholly owned subsidiary in DMCC Free Zone Area, Dubai, to undertake commodity broking operations, says the release.

The company, which is a member of the Dubai Gold and Commodity Exchange, plans to source clients from West Asia, India, the U.S. and Europe, adds the release.

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