Apollo Sindhoori Capital Investments is now Aditya Birla Money
16th November, 2009
Apollo Sindhoori Capital Investments Limited, the securities broking arm of Aditya Birla Financial Services Group (ABFSG) has been renamed as Aditya Birla Money Limited. The company had seen a change in control when Aditya Birla Group acquired 76 per cent stake from the promoters and open market, in March 2009 and the name change reflects this change in shareholding.
Aditya Birla Money offers broking and distribution of a range of financial products and services, delivered both through an online and offline trading platform. The company has a strong distribution network of over 800 own and sub-broker branches, a large customer base in excess of 185,000 and a strong technology backbone.
Mr. Ajay Srinivasan, Chief Executive - Financial Services, Aditya Birla Group, said, "Securities broking is a core part of the Aditya Birla Financial Services Group offering. With the new name, the business now reflects the strong brand equity and commitment of the parent group. Aditya Birla Money's strong customer base, large branch network and talent pool of vertical specialists ensures that we are poised to tap the vast opportunity in this space."
Aditya Birla Money has taken rapid strides to improve the operational effectiveness as well as to bring in new products and services such as E-IPOs, insurance distribution and prepaid brokerage plan for internet customers. The company has also launched its new website www.adityabirlamoney.com with a new look and enhanced features for equity trading.
About Aditya Birla Money
Aditya Birla Money (formerly known as Apollo Sindhoori Capital Investments) is a broking player, offering Equity and Derivative trading through NSE and BSE and Currency derivative on MCX-SX. It provides commodity trading on MCX and NCDEX through its subsidiary Aditya Birla Commodity Broking Limited and is registered as Depository Participant with both NSDL and CDSL.
The company has a strong pan India distribution network of over 800 own and sub broker branches, a large customer base in excess of 1,85,000, a robust online and offline model with a strong technology backbone.
For more information please visit www.adityabirlamoney.com
About Aditya Birla Financial Services Group
Aditya Birla Financial Services Group is a broad based and integrated player in the financial services space with a strong presence across verticals viz., life insurance, asset management, retail broking, distribution and wealth management, NBFC, insurance broking and advisory services and private equity. ABFSG is rapidly growing in line with its vision to be a leader and role model in the Indian financial services sector.
The seven companies representing Aditya Birla Financial Services Group are Birla Sun Life Insurance Company, Birla Sun Life Asset Management Company, Aditya Birla Money (erstwhile Apollo Sindhoori Capital Investments), Birla Sun Life Distribution Company, Birla Global Finance Company, Birla Insurance Advisory and Broking Services and Aditya Birla Capital Advisors.
The consolidated revenues from these businesses crossed USD 1 billion mark in 2008-09. Today ABFSG collectively enjoys trust of over 4 million customers, manages assets over USD 16 billion and prides itself for having a talent pool of over 15,000 committed employees. ABFSG has its wings spread across more than 500 cities in India through over 1,500 branches and over 2 lakh channel partners.
ABFSG is a part of Aditya Birla Nuvo Limited (ABNL), a USD 3 billion conglomerate having leadership position across its manufacturing as well as services sector businesses. ABNL is a part of the Aditya Birla Group, a USD 29 billion Indian business house operating in 25 countries across the globe.