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.