Karvy to set-up NBFC, plans London, Singapore foray

Karvy Stock Broking (KSBL), plans to float a Non-Banking Financial Company (NBFC) by March next year. Karvy, in which ICICI Ventures and Baring Equity recently picked-up a combined 25-per cent stake, is likely to approach the Reserve Bank for the necessary regulatory approval within the next 2 months for setting up the NBFC, a source close to the development told here.
"Karvy will apply for the NBFC license in the next 1-2 months," the source said, adding that "the NBFC is expected to get operational by March." Last month, ICICI Bank's investment arm, ICICI Ventures and Baring Private Equity Asia (BPEA), had together invested nearly Rs 500 crore in KSBL, to acquire a nearly 25 per cent stake in the firm.

Karvy broking currently has 580 offices in the country and plans to add another 170 branches in the next one year, the source said. A part of the Karvy group, KSBL and its subsidiaries offer services in investment banking, stocks, commodities, mutual funds, insurance and depository services. The group also plans to expand globally and has zeroed in on Singapore and London for its foray. "The company will be entering the Singapore and London markets in the next one year, where it will look at investment opportunities in various instruments such as foreign securities and commodity derivatives," the source said. Presently, the group has a representative office in Dubai and a group company in New York

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Kamma Cine Heroes

1) N.T.Rama Rao 2) Akkineni Nageswara Rao 3) Gattamaneni Krishna 4) Sobhan Babu (Uppu Sobhana Chalapathi Rao) 5) Gummadi Venkatwsara Rao 6) Maganti Murali Mohan 7) Manchu Mohan Babu 8) Kongara Jaggayya 9) Giri babu (Yerra Seshagiri Rao) 10) Sridhar Surapaneni 11) Madala Ranga rao 12) Nandamuri Bala Krishna 13) SaiChand Tripuraneni 14) Akkineni Nagarjuna 15) Daggubati Venkatesh 16) Gadde Rajendra Prasad 17) Raja Sekhar (Kasukurthi) 18) Daggubati Raja 19) Bhagya Raj 20) Nandamuri Hari Krishna 21) Veeramachineni Jagapathi Babu 22) Meka Srikanth 23) Vadde Naveen 24) Tottempudi Venu 25) Gattamaneni Mahesh Babu 26) Junior. N.T.R 27) Sivaji Sontineni 28) Nandamuri Taraka Ratna 29) Nandamuri Kalyanaram 30) Yarlagadda Sumanth 31) Tottempudi Gopi Chand 32) Manchu Vishnu Vardhan 33) Manchu Manoj 34) Edara Naresh 35) Edara Aryan Rajesh 36) Ram Pothineni 37) Myneni Sarvanand 38) Daggubati Rana 39) Akkineni Naga Chaitanya 40) Nani (Ghanta Naveen Kum...

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List of Kamma Cine Heroes (Updated)

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Challapalli is a village in Krishna district of the Indian state of Andhra Pradesh. It is located in Challapalli mandal of Machilipatnam revenue division. The Rajah of Challapalli, Srimanthu Raja Yaralagadda Ankineedu Prasad Bahadur Garu built this Palace in the early 18th centaury. Then onwards Challapalli became the capital for the Devarkota Estate and the town developed around the palace. It remains as a great example of Andhra architecture to this very day. . The last crowned monarch of Challapalli was Srimanthu Raja Yaralagadda Shivaram Prasad Bahadur Garu (1906-76). As of 2012, the Royal family members no longer reside in the fort. Yarlagadda Rajas of Challapali fort and Zamindari that ruled this area from 15 century now the kingdom has gone due to land cease act that was kept by the Indian Government but their greatness was in the words of the people in that area . The Raja of Challapalli (Devarakota) in Krishna district was among the richest of the Rajahs and h...

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