StockHolding Corporation of India

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StockHolding Corporation of India Limited
Company type Public sector undertaking
Industry Stock market & Financial services
Founded1986, Mumbai
Headquarters
Mumbai, Maharashtra
,
India
Area served
 Custodial Services
Depository Services
E-stamping
Key people
Shri Atul Saxena (Managing Director & CEO)

Shri Manoj Parida (COO) (Chief Operating Officer)

Shri Vinay E. Purohit (Chief Financial Officer)
Services Depository participant
Stockbroker
Derivatives
Mutual funds
Demat account
E-stamping [1]
Website www.stockholding.com

Stock Holding Corporation of India Limited (StockHolding) is an Indian custodian and depository participant, based in Mumbai, Maharashtra. [2] StockHolding was established in 1986 as a public limited company and is a subsidiary of IFCI. StockHolding became a subsidiary of IFCI Limited on April 7, 2015, which is a Government Company. Being a subsidiary of a Government Company, StockHolding and its subsidiaries are also Government Companies. It is also responsible for the e-Stamping system around India. It is authorized by the Reserve Bank of India as an Agency Bank to distribute and receive Govt. of India savings/relief bond 2003 along with nationalized banks. [1]

Contents

On November 22, 2024 IFCI Limited approved the merger of Stockholding Corporation of India Limited with IFCI Limited, in accordance with the recommendation of the Ministry of Finance, Ministry of Finance Government of India, as outlined in letter F.No.2/22/2016-IF-1 dated November 22, 2024. The National Stock Exchange (NSE) issued a letter (No. IFCI/CS/2024-788), and the Bombay Stock Exchange (BSE) issued a letter (No. IFCI/CS/2024-787) in this regard.

Corporate structure

The Stock Holding Corporation has three subsidiaries: [3]

Operations

Domestic presence

StockHolding has over 200 branches and in 141 cities around India.

GIFT IFSC presence

StockHolding's subsidiary, StockHolding Securities IFSC Limited, is operating out of India's first International Financial Services Centre at GIFT City, Gandhinagar, Gujarat, catering to EFIs (Eligible Foreign Investors), FPIs & NRIs from FATF compliant jurisdictions as of now. [4] [ when? ]

E-Stamping

The main e-stamping facility was opened on 3 July 2008 in New Delhi, India and was inaugurated by Chief Minister Sheila Dikshit. The goal of the e-stamp was to "prevent paper and process-related fraudulent practices" according to the SHICL chairman and managing director at that time, RC Razdan. It implemented the e-stamping facility in five cities of Gujarat – Ahmedabad, Gandhinagar, Surat, Rajkot and Baroda – as well as Bangalore, in March 2008.

Products and services

StockHolding offers numerous financial services along three main branches: personal, corporate and custodial services.

Personal services

Some of the personal services they offer include:

Gold Rush

A platform that allows users to buy gold online and is one of the only two ways to do so in India. [5]

Corporate services

Custodial services

Custodial services include any safekeeping, administration, transaction and further activities done on behalf of a company by its custodian, and include:

References

  1. 1 2 "The Hindu Business Line: Stock Holding to launch e-stamping in Maharashtra". Thehindubusinessline.in. 2 May 2008. Retrieved 25 February 2011.
  2. ↑ "StockHolding Online – A B O U T U S :: C O N T A C T U S". Stockholding.com. 6 January 1998. Retrieved 25 February 2011.
  3. ↑ "Stock Holding Corporation of India Limited Teaser Document" (PDF). ifciltd.com. Retrieved 23 October 2019.
  4. ↑ "Home". stockholdingifsc.com.
  5. ↑ Motiani, Preeti (6 May 2019). "Here are two ways to buy gold online". The Economic Times. ISSN   0013-0389 . Retrieved 1 August 2023.
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