>DaxServer at 15:25, 22 August 2021

2021-08-22T15:25:02Z

New page

{{Use dmy dates|date=August 2019}}
{{Use Indian English|date=August 2019}}
{{Infobox company|
| name = Geojit Financial Services Ltd.
| logo = Geojit logo.svg
| type = [[Public company|Public]]
| traded_as = {{Unbulleted list|{{BSE|532285}}|{{NSE|GEOJITFSL}}}}
| foundation = 1987
| location = [[Kochi, India|Kochi]], [[Kerala]], [[India]]
| industry = [[Financial services]]
| products = Investment Management Solutions
| key_people = [[C J George]]
| homepage = [http://www.geojit.com/ www.geojit.com]
}}
'''Geojit Financial Services Ltd.''' is an investment services company in [[India]] headquartered in [[Kochi]], [[Kerala]].<ref>{{cite news|title=City Union Bank inks MOU with Geojit BNP Paribas|url=https://www.ndtv.com/business/city-union-bank-inks-mou-with-geojit-bnp-paribas-56745|access-date=20 May 2018|work=NDTV|date=25 November 2011}}</ref><ref>{{cite news|title=Federal Bank Launches Online Trading in Association With Geojit|url=https://www.outlookindia.com/newswire/story/federal-bank-launches-online-trading-in-association-with-geojit/651171|access-date=20 May 2018|work=Outlook India|date=7 January 2009}}</ref><ref>{{cite news|title=Geojit BNP Paribas Deploys Brocade Switching Infrastructure|url=https://www.firstpost.com/business/geojit-bnp-paribas-deploys-brocade-switching-infrastructure-1887659.html|access-date=20 May 2018|work=First Post|date=2 February 2017}}</ref> It operates a network of offices across [[India]] and the [[Middle East]].<ref>{{cite news|title='We have a calibrated strategy to focus on capital market products'|url=http://www.thehindu.com/business/markets/we-have-a-calibrated-strategy-to-focus-on-capital-market-products/article7880799.ece|access-date=16 May 2018|work=The Hindu|issue=15 November 2015}}</ref> Geojit was the first company in India to launch online-trading facilities, develop franchise models of sub-broking, form joint ventures in West Asia and the first to begin [[Futures contract|commodity futures]] trading in [[Black pepper|pepper]], [[cardamom]], [[gold]] and [[silver]] in [[India|Bharat]].<ref name=":0">{{cite news|title=Taking Stock|url=http://www.thehindu.com/features/metroplus/taking-stock/article4657304.ece|access-date=16 May 2018|work=The Hindu|date=26 April 2013}}</ref>

The product offerings of the company include [[equities]] and [[Derivative (finance)|derivatives]] to [[mutual funds]], [[Life insurance|life]] and [[General insurance|general]] [[insurance]], commodities derivatives and portfolio management services.<ref>{{Cite news|url=http://www.business-standard.com/company/geojit-fin-ser-6064/information/company-history|title=Geojit Financial Services Ltd.|work=Business Standard India|access-date=2018-05-15}}</ref> The company has 512 offices across the country.<ref>{{Cite web|url=https://www.businesstoday.in/pti-feed/geojit-net-jumps-39percent-to-re-enter-commodity-broking/story/268869.html|title=Geojit net jumps 39%; to re-enter commodity broking|website=www.businesstoday.in|access-date=2018-05-15}}</ref> Through joint ventures and associates, the company has expanded its presence globally with offices in [[Dubai]], [[Abu Dhabi]], [[Sharjah]], [[Al Ain]], [[Muscat]], [[Riyadh]], [[Dammam]], [[Bahrain]] and [[Kuwait]]. Geojit is listed on the [[National Stock Exchange of India|National Stock Exchange]] (NSE) and the [[Bombay Stock Exchange]] (BSE).

== About ==
Geojit was founded by [[C J George]] in 1987 and the major stakeholders of the company include [[C J George]] – Managing Director of Geojit, global banking major [[BNP Paribas]], [[Kerala State Industrial Development Corporation]] and [[Rakesh Jhunjhunwala]].<ref>{{Cite news|url=https://timesofindia.indiatimes.com/business/india-business/geojit-plans-to-double-customer-base-to-2-mn-in-5-years/articleshow/57063499.cms|title=Geojit plans to double customer base to 2 mn in 5 years – Times of India|work=The Times of India|access-date=2018-05-15}}</ref> As of 31 December 2017, it has over Rs.41,000 crores as assets under custody and management, servicing over <ref>{{Cite web|url=http://bsmedia.business-standard.com/_media/bs/data/announcements/bse/31052017/142ecb75-e7dc-4a9a-aa2e-c2a4d070c9fe.pdf|title=Assets Under Custody and Management|work=Business Standard|access-date=2018-05-15}}</ref> 913,000 clients.<ref>{{Cite news|url=https://www.outlookindia.com/newsscroll/geojit-net-jumps-39-to-reenter-commodity-broking/1238805|title=Geojit net jumps 39%; to re-enter commodity broking|access-date=2018-05-15}}</ref>

The network of Geojit covers more than 300 cities in states in India such as [[Andhra Pradesh]], [[Bihar]], [[Chhattisgarh]], [[Goa]], [[Gujarat]], [[Haryana]], [[Jammu and Kashmir (state)|Jammu and Kashmir]], [[Karnataka]], [[Kerala]], [[Madhya Pradesh]], [[Maharashtra]], [[New Delhi]], [[Orissa]], [[Punjab]], [[Rajasthan]], [[Tamil Nadu]] & [[Pondicherry]], [[Telangana]], [[Uttar Pradesh]], [[Uttaranchal]] and [[West Bengal]].

The company has B2B partnerships with a number banks such as [[Axis Bank]] (the partnership received IBA recognition 2007 & 2008), [[Federal Bank]], [[Andhra Bank]], [[Oriental Bank of Commerce]], SVC Bank ([[Shamrao Vithal Co-operative Bank]]), [[Corporation Bank]], [[South Indian Bank]] and [[IndusInd Bank]].<ref>{{Cite news|url=https://www.thehindubusinessline.com/money-and-banking/andhra-bank-teams-up-with-geojit-for-3in1-online-platform/article9008490.ece|title=Andhra Bank teams up with Geojit for 3-in-1 online platform|access-date=2018-05-16}}</ref><ref>{{Cite news|url=https://economictimes.indiatimes.com/industry/banking/finance/federal-bank-launches-online-trading-in-association-with-geojit/articleshow/3942495.cms|title=Federal Bank launches online trading in association with Geojit|access-date=2018-05-16}}</ref><ref>{{Cite news|url=https://economictimes.indiatimes.com/industry/banking/finance/banking/corporation-bank-has-signed-an-mou-with-geojit-bnp-paribas-to-offer-a-3-in-1-integrated-account/articleshow/28651911.cms|title=Corporation Bank has signed an MoU with Geojit BNP Paribas to offer a 3-in-1 integrated account|access-date=2018-05-16}}</ref>

== History ==
[[C J George]], founder and CEO of the company set up M/s C.J George and Co. in 1987 with Ranajit Kanjilal as partner.<ref>{{Cite news|url=https://economictimes.indiatimes.com/small-biz/entrepreneurship/how-cj-george-of-geojit-bnp-paribas-transformed-a-small-company-into-a-big-brokerage-firm/articleshow/17056487.cms|title=How CJ George of Geojit BNP Paribas transformed a small company into a big brokerage firm|last=Nair|first=Radhika P.|date=2012-11-02|work=The Economic Times|access-date=2018-05-15}}</ref> However, a formal partnership was formed in 1988 after Kanjilal acquired membership in the Cochin Stock Exchange. The firm was then renamed as Geojit and Co. The name 'Geojit' was coined by conjoining the first and last three words in the names of the partners who set up the organization – [[C J George]] and Ranajit Kanjilal.<ref>{{cite news|title=It is where Kochiites learned greed is good|url=http://www.thehindu.com/news/cities/Kochi/it-is-where-kochiites-learned-greed-is-good/article4591757.ece|access-date=16 May 2018|work=The Hindu|issue=7 April 2013}}</ref>

In 1992, Kanjilal, left the organization and Geojit became sole proprietorship.<ref>{{Cite web|url=https://www.scribd.com/document/102603802/geojit-online-trading-on-commodity-market-with-respect-to-gold|title=geojit. online trading on commodity market with respect to gold {{!}} Financial Markets {{!}} Securities (Finance)|website=Scribd|language=en|access-date=2018-05-15}}</ref>

In 1993, the company opened its first branch in Muvattupuzha in Ernakulam and followed it up with another branch in Trichur in Kerala.<ref name=":0"/>

== Growth and Expansion ==
In 1994, Geojit became a public limited company with a new name – Geojit Securities Ltd. It was the first brokerage firm that became a corporate in Kochi and one of the earliest in India. In 1995, [[Kerala State Industrial Development Corporation]] (KSIDC) became a co-promoter of Geojit by acquiring 22% stake in the company. This is the only instance of a government entity participating in the equity of a stock broking company.<ref>{{Cite news|url=http://www.newindianexpress.com/states/kerala/2017/aug/09/so-which-company-gave-you-your-shares-worth-this-time-1640436--1.html|title=So, which company gave you your shares' worth this time?|work=The New Indian Express|access-date=2018-05-20}}</ref><ref>{{Cite web|url=https://economictimes.indiatimes.com/geojit-financial-services-ltd/infocompanyhistory/companyid-6853.cms|title=Geojit Financial Services History {{!}} Geojit Financial Services Information – The Economic Times|website=economictimes.indiatimes.com|access-date=2018-05-15}}</ref> A P Kurian who retired from UTI as its Executive Trustee joined the board of the company as an independent director and chairman.

In October 1995, Geojit went public by issuing 9,50,000 shares of Rs.10 each to gain access to more capital. Shares of the company were listed in Cochin, Chennai and Delhi exchanges. The IPO was oversubscribed by 15 times.<ref name=":0" /> In the same year, Geojit became a member of the NSE and the opened its first terminal at Cochin.

From 1996 onwards, the company focused on expanding its presence as well as products and services. Geojit started depository services in 1997, offering customers Demat facility.<ref>{{Cite news|url=https://www.thehindubusinessline.com/todays-paper/tp-life/Handholding-women-investors/article20301774.ece|title=Handholding women investors|work=The Hindu Business Line|access-date=2018-05-20|language=en}}</ref>

In 1999, the company took membership in the [[Bombay Stock Exchange]] (BSE) and its shares were listed in the BSE in 2000<ref>{{Cite web|url=https://www.ndtv.com/business/stock/geojit-financial-services-ltd_geojitbnpp/reports|title=Geojit Finl. Service: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of Geojit Finl. Service – NDTV|website=www.ndtv.com|language=en|access-date=2018-05-15}}</ref>'''.''' In February 2000, Geojit launched online trading. In 2003, the company ventured into commodity trading with the launch of rubber trading. In 2004, commodity trading in cardamom was launched. In 2005, Rakesh Jhunjhunwala, a renowned Indian Equity Investor, took a significant stake in the company and joined the Board of Directors of the company<ref>{{Cite web|url=http://www.moneycontrol.com/bse_annualreports/5322850313.pdf|title=BSE Annual Report}}</ref>'''.'''

In 2005, Geojit launches Geojit Technologies, another sister concern with an aim to develop state-of-the-art technologies for the financial services field. Geojit Credits, a subsidiary of Geojit Financial Services Ltd., was also launched after registering with the Reserve Bank of India as a Non-Banking Financial Company (NBFC). In the same year, Geojit shares were also listed on National Stock Exchange of India Limited.

In 2012, Geojit launched Qualified Foreign Investors (QFI) Investment service<ref>{{Cite news|url=http://www.business-standard.com/article/companies/geojit-launches-qfi-investment-service-112062100162_1.html|title=Geojit launches QFI Investment service|agency=Press Trust of India|date=2012-06-21|work=Business Standard India|access-date=2018-05-15}}</ref>'''.'''

In 2018, the company launched Funds Genie, a Mutual Funds advisory and investment platform.<ref>{{Cite news|url=http://www.business-standard.com/article/news-cm/geojit-financial-services-launches-mf-app-funds-genie-118031000156_1.html|title=Geojit Financial Services launches MF app – Funds Genie|last=Market|first=Capital|date=2018-03-10|work=Business Standard India|access-date=2018-05-21}}</ref>

== References ==
{{Reflist}}

{{Financial services in India}}
{{Online brokerages}}

[[Category:Financial services companies based in Kochi]]
[[Category:Multinational companies headquartered in India]]
[[Category:Indian companies established in 1987]]
[[Category:Brokerage firms]]
[[Category:1987 establishments in Kerala]]
[[Category:Financial services companies established in 1987]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]

Geojit Financial Services - Revision history

>DaxServer at 15:25, 22 August 2021