IDFC takes 26% stake in Orbis

By Team YS|18th May 2010
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Mumbai, May 18, 2010: Infrastructure Development Finance Company Ltd (IDFC) has taken an equity stake in Orbis Capital Ltd through induction of fresh capital. Their equity shall increase to 26% through conversions over the next two years. It may be noted that Orbis Capital’s subsidiary Orbis Financial Corporation Limited (OFCL), India’s first privately held and professionally managed SEBI registered custodian, commenced operations in April 2009.

Dr Vijay Kelkar has accepted his appointment as Chairman of the Company. Mr. Vikram Limaye, the Executive Director of IDFC will join the Board of Orbis. On this occasion, Mr. Limaye said, “Orbis is a young and promising company with specialised expertise in custodial services. We are hopeful that IDFC’s investment in Orbis will help establish an association that sets new standards in the custody market.”

Atul Gupta, Founder CEO, Orbis Capital said, ''Custody as a service has been available only to large players like Mutual Funds, Financial Institutions and FIIs in India. Our business model is to expand the market to the ‘under serviced’ segments of Super HNIs & NRIs, Corporates, large Private Banking Groups, Pension Funds and Domestic Institutional Investors. There is no reason why these investors cannot enjoy these “premium services” at a nominal price and enhance their security as enjoyed by the Institutions. IDFC as an investor and a partner, will help us in our endeavor to expand our custody reach in India”. He also added that soon Orbis Capital would establish its overseas presence through a 100% subsidiary in Singapore, thus creating a platform enabling investors in India to invest globally and helping them achieve a multi?market multi?currency portfolio exposure.

Orion Equity Advisors Pvt Ltd, a Mumbai based advisory firm, provided advisory services to Orbis on this transaction.

About Orbis Capital Limited

Orbis is present in the financial market as a custodian through its subsidiary Orbis Financial Corporation Ltd, offering a range of forward looking services equipping the investors to efficiently manage their investing operations securely. As India’s first privately owned, professionally managed, SEBI regulated custodian, Orbis consciously limits its presence to this premium Investor Service segment with no distractions whatsoever in a Non?Broking, Non?Advisory, Zero conflict business environment.

With its ISO 9001:2008 certified Systems, ERP based fund accounting, state of the art reporting tools and latest operations technology, Orbis strives to provide reliability and safety without compromising speed. As clearing members on BSE, NSE and MCX?SX in the equities, debt, derivative segments and as depository participants on NSDL & CDSL, Orbis combines its technology, processes and expertise to offer custody and related services.

About IDFC Infrastructure Development Finance Company Limited (IDFC) is India's premier financial services institution focused on infrastructure. It was set up in 1997 by the Government of India as a financier and catalyst for private sector's involvement in infrastructure development in India. For over 12 years, since the company's initial public offering in 2005, IDFC has evolved into a 'one stop shop' for infrastructure finance in India, meeting the complex and ambitious requirements of an expanding client base.

IDFC's strategy involves all parts of the value chain of infrastructure, providing a differentiated value proposition to its clients. IDFC's domain expertise in infrastructure combined with product breadth ? project financing, investment banking and asset management enables it to provide creative solutions to its clients. IDFC has strong relationships with the private sector and government enabling it to provide objective advice and facilitate public?private partnerships in infrastructure. IDFC Foundation helps train government officials on public?private partnerships, provides advice on infrastructure policy and governance issues and on sustainable development strategies.

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