Destimoney Securities Pvt Ltd

Company Background:
Established in 2006, Destimoney is one of the leading full services financial
organizations in the country headquartered in Mumbai. Company has over 3000 full-
time employee based in 137 branches in 72 cities and over 497 Distribution Partners
across India.

Destimoney Securities is 100% subsidiary of Destimoney Enterprises, a financial

services and advisory company owned and controlled by private equity firm New Silk
Route (NSR). NSR acquired 100% stake in business in mid-2008.

The Destimoney Group at present has 4 business lines:

1. Destimoney India Services Pvt Ltd: It provides portfolio management
services;
2. Destimoney Enterprises Pvt Ltd: It provides financial advisory services
and distributes insurance products, loans, fixed deposits, mutual funds,
structured products;
3. Destimoney Securities Pvt Ltd: It deals with broking of stocks & shares;
4. Decimal Point Analytics: It is into global research outsourcing businesses.

NSR acquisition of Dawnay Day in 2008:

The private equity firm, New Silk Route (NSR), co-founded by former McKinsey chief
Rajat Gupta, bought the entire company for about Rs200 crore in 2008, acquiring
Dawnay Day International’s 50% stake in the Indian venture, 25% stake of Mr. Alok
Vajpayee, the promoter and the employee trust’s 25% holding as well. Company was
renamed Destimoney under new share holders and management.

Of the Rs200 crore, Rs80 crore is used to retire a Dawnay Day AV loan from HSBC
Holdings Plc. and another Rs80 crore towards repaying the preferential capital issued
by Dawnay Day International.

According to person closed to the deal, NSR has bought only the stock brokerage and
third-party distribution businesses and these two businesses together were assessed
at Rs40 crore, while the remaining Rs160 crore is the value of Dawnay Day AV’s
67,600 sq. ft of office space spread across two locations in Mumbai and one in Pune.

New investment:
Destimoney Securities plans to infuse around Rs.40 Cr through new investors,
including Dhanlaxmi Bank, which has invested Rs.13 Cr for a 15% stake.

Dhanlaxmi Bank currently offers Destimoney products and services from across all its
existing and new branches. The online trading product is being marketed as
"Dhan4U" and is currently being offered to all the customers of Dhanlaxmi Bank.
Going forward, other product offerings of Destimoney, namely, Portfolio Management
services, Portfolio Advisory services, Commodity & Currency trading services, etc,
shall be offered to all existing and new customers of the bank.

Speaking about the nature of Dhanlaxmi's investment in the company, Vivek Vig, the
Managing Director and Group CEO of Destimoney said, "This investment into
Destimoney Securities is an extension to the strategic partnership with Dhanlaxmi
Bank to offer online trading facility to the bank's existing and new CASA customers.
The investment is expected to bring greater synergy and focus towards expanding
product basket to bank's customers and also increase fee-based revenue for the
bank. Both the partners are keen to set up high-quality infrastructure and
technological platforms to offer value-added products and services to middle India
markets.

Products:
1. Traditional Investment Products
• Equity:
 Direct Equity
 IPOs
 Equity Mutual Funds
 My OMFA (Online Mutual Fund Account)
• Debt:
 Debt Mutual Fund
 Term Deposits
 NCDs
 Bonds

2. Liability Management Products

• IPO Financing
• Loans
 Housing Loans
 Loans against Shares
 Loans against property
 Personal loans
 Business loans

3. Risk Management Products

• Life insurance
• General Insurance
• Wills, Trusts & Estate Planning Services

4. Structured Products
• Portfolio Management Services (PMS)
• Private Equity Funds

Services:
• Prime Brokerage Services
 Equities
 Equity Derivatives
 Commodity Derivatives
 Currency Derivatives
 Interest Rate Derivatives
 Depository services
• Wealth Management
 PMS
 Portfolio Advisory Services
 Online mutual Fund
 Online IPO
• Research
 Fundamental Analysis
  Technical Analysis
 Industry & Sector Analysis
 Investor Conferences

Online Trading Platform

Management:
1. Mr. Vivek Vig has been appointed as Managing Director and Group CEO
of Destimoney by NSR. He is former Country Head of Centurion Bank of
Punjab. He also worked as the Country Head of Citibank in Saudi Arabia,
Turkey Business Head in Taiwan and Poland.
2. Brijesh Parnami is CEO – Distribution. He carries experience in
distribution and assets at Centurion bank of Punjab, Standard chartered and
GE Capital.
3. K Giri is Group CFO. Mr Giri has Former Country Controller - Nestle
(Uzbekistan)
4. Jamshed Vakeel is Group Creative Director. Mr. Vakeel’s last assignment
was with Creative Group Head at Ogilvy & Mather, London.
5. Mr. Sudip Bandyopadhyay has joined Destimoney Securities Pvt. Ltd. as
President. He has previously worked with Reliance Money, ITC, ICI, HLL and
Spice Finance.
6. Mr. Anand Dorairaj from NSR Partner is on the board of Destimoney
Securities.