Enam Securities Private Limited

ABOUT THIS COMPANY:

The formidable four

Established in 1984 by four veterans of Dalal Street -- Manek Bhanshali, Vallabh Bhanshali, Jagdish Master and Nemish Shah -- Enam was amongst the first corporate stockbrokers in the country. It was set up with the mandate to provide knowledge-driven financial services at a time when the country's economy was undergoing reforms that were market-oriented. The firm, with its headquarters in Mumbai, today has a presence in all the major cities across India.

Leveraging reach

Enam's phenomenal reach gives it a distinct advantage in rallying the wherewithal needed for IPOs. The company, through its strong network of over 5000 franchisees, musters about 25 percent of the total funds that are raised in the country's equity markets. According to company sources, Enam is in the process of further ramping up its network of branches and franchisees to service investors pan-India.

One-stop shop

Enam offers promising companies the opportunity to access the public market equity finances. It escorts them through the IPO process. Well-regarded for its business insight and ability to predict change ahead of the market, Enam services financial institutions, mutual funds and FIIs (Foreign Institutional Investors). For retail investors, the company offers a retail equity broking platform, while the high net-worth investors can access its wealth management services. In addition to providing investment banking, corporate advisory, equity, debt and capital market services to companies and institutions, Enam also ranks among the country's leading distributor of financial products and services. The long list of Enam's clients includes the big wigs of the industry such as Baja, Essel Group, Anil Dhirubhai Ambani Group, and Jaiprakash Power.

Moving up the value chain

A major reason for Enam's growth in a short time-period can be attributed to its strategy of continuous evolution. The company has kept pace with the changing market dynamics by constantly expanding its product portfolio. For instance, Enam took the decision to venture into the insurance broking business at a time when the concept of insurance broking was still at a nascent stage in India. Similarly, with an eye on the climate mitigation market, it has entered into a 50:50 joint venture agreement with Sindicatum Carbon Capital International Limited a global major engaged in developing Greenhouse Gas (GHG) abatement projects. Enam plans to utilise its capital pool to come up with Indian GHG reduction projects.

Winning accolades

Finance Asia voted it as the Best Equity Fund House' in 2006 and 2007, while it received the Best Domestic Fund House' award by Asia Money in 2006 and 2007. Enam won the Best Merchant Banker award, announced by Outlook Money-NDTV Profit, for the year 2007. Besides, it was adjudged the top company in terms of mobilisations for IPOs for three consecutive financial years -- 2005-06, 2006-07 and 2007-08 (till September). In institutional mobilization, Enam had a share of more than 32 percent, while in the retail and High Net-worth Individuals' category it had a share of 26 percent.

Bright future ahead

Going forward, Enam has chalked out tall plans for itself. It is said to be in the fray for acquiring Arden Partners, a Birmingham-based stockbroker. A tier-II company with a valuation of about Rs.260 crore, Arden Partners is listed on a sub-market of London Stock Exchange.

Enam has recently picked up 11.76 percent stake in TIL (formerly Tractors India), which is a Kolkata-based heavy engineering company.