Introducing
Skindia Finance
Incorporated
in 1984, today Skindia Finance Pvt. Ltd. is India's most important Special
Situations brokerage firm focusing on GDR arbitrage,equities and debt
with a Blue Chip client list. The company carries out brokerage operations
on all of the country's major stock markets either directly or through
local brokers. Skindia Finance was promoted by Mr. Krishan Chand. The company
began brokerage operations in 1992 and operates on the following exchanges:
- The National
Stock Exchange (NSE) - Skindia has been a member of the Capital Market
segment (corporate equity and debt) since it commenced operations in November
1994. The company has on some days accounted for upto 18% of NSE's turnover.
The company has three trading screens linked via V-Sat to the NSE central
computer.
- The Over The
Counter Exchange (OTC), India's first screen-based trading system - Skindia
is among the leading Market Makers and Brokers. The company has two trading
screens linked via modems using a leased line and a dial up line to the
OTC central computer.
- The Bombay,
Calcutta and New Delhi Stock Exchanges, on which the company operates through
a panel of brokers.
- In addition,
the Skindia Money Markets Group undertakes syndication of Bills of Exchange,
Inter-Corporate Deposits and Special Obligations like short-term, unsecured
debentures.
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Client
Profile
Institutional
Investors:
Foreign
(Hedge Funds, Asset Management Companies.)
Domestic
(Corporates, Asset Management Companies).
Individual /
Retail :
NRIs
Domestic
high net-worth individuals.
Curiously,
Skindia Finance's track record in Special Situations Brokerage has had
unexpected spin-offs. In October 1994, lead managers Nomura appointed Skindia
as placement agents for India to handle a Hollywood mutual fund - the first
international placement for Indian investors.
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Transparency
Brokerage
and finance operations in India have undergone rapid transformation, resulting
in operations that afford complete transparency. The NSE and OTC Exchange's
fully automated screen-based trading systems ensure all deals are recorded.
Computerised back office reads directly from NSE and OTC systems resulting
in an almost zero error rate. Clients have access to order nos., trade
nos., market prices and trade time. Further, Skindia publishes individual
periodic reports indicating latest account status.
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The Skindia
GDR Index and the Skindia GDR Monitor
One of the
earliest contributions made by Skindia to the financial community was the
Skindia GDR Index. Today the most-quoted GDR index world-wide, it is used
as the standard at the IIF (Institute of International Finance), Washington,
The Times of India, Knight Ridder and Press Trust of India (PTI).
Besides this, the firm generates the Skindia GDR Monitor every week which
beams out of 4 exclusive pages on Knight Ridder. The firm also provides
the Daily GDR Update on all India's screen based news systems. Apart from
the above, clients receive reports that study the market and recommend
strategies for both investors and traders. Due to the high level of computerisation
personalised reports are prepared and faxed at pre-determined times automatically.
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The
Board, Bankers and Auditors
Board of Directors
:
Mr. Krishan
Chand, Chairman
Mrs. Sudha
Chand
Mr. Gaurav
Chand
Bankers :
ANZ Grindlays
Bank
Citibank
N.A.
Global Trust Bank
HDFC Bank Ltd.
SBI Commercial
& International Bank
Karur Vysya
Bank
Auditors :
Vaidya &
Vyavaharkar
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