Geojit Financial Services Share Price

Geojit Financial Services Limited originated in year, 1987 as a partnership Firm of Mr. C. J. George and his Associates. Later on, Firm was converted into a Company and got incorporated on November 24, 1994 as Geojit Securities Limited. Since the main business of the Company was discontinued, name of the Company was changed to Geojit Investment Services Ltd. w.e.f. 2nd April 2009.The Kerala State Industrial Development Corporation Limited became a copromoter of Geojit by acquiring 24% stake in the Company. In 1995, the Company became a Member of National Stock Exchange and installed their first trading terminal in Cochin, Kerala. The Company offers stock and currency derivatives, portfolio management services, margin trading, mutual fund and insurance product distribution, online financial planning, and commodity derivatives. It has operations outside the country through subsidiaries, an associate and joint ventures in Oman, Kuwait, UAE and Saudi Arabia. Geojit was a pioneer in the introduction of commodity trading in rubber, cardamom, gold, and silver futures. The Company also had a first mover advantage in the introduction of internetbased depository transactions, integrated trading systems for both cash and derivative segments, and trading on mobile devices and the Internet. Geojit offers Flip, Selfie, TraderX, Online Financial Planning Tool,and FundsGenie, among other innovative and userfriendly solutions. In 1997, the company became a Depository Participant under National Securities Depository Limited (NSDL) and began to provide Depository Services through their branches. In the year 1999, they became a member of Bombay Stock Exchange and activate Bombay Online Terminals (BOLT) in different branches. The company offered online trading which was inaugurated on February 1, 2000. In the same year, they commenced Derivative Trading and also established the first Bank Gateway in the country for Internet Trading. In the year 2001, the company became the first Indian Depository Participant to launch depository transactions through Internet. Also, they launched a joint venture company in UAE for serving NRI clients.In the year 2002, the company made a tie up with MetLife for the marketing and distribution of insurance products across the country. Also, they became the first online brokerage house to launch integrated internet trading system for both cash and derivatives segments.During the year 200304, the company added 38 branches which includes12 in Kerala, 6 in Karnataka, 10 in Tamil Nadu, 1 in Andhra Pradesh and 9 in Mumbai. The company changed their name from Geojit Securities Ltd to Geojit Financial Services Ltd. Geojit Commodities Ltd, a wholly owned subsidiary company launched Commodity Futures Trading in rubber, pepper, gold, wheat and rice and also they launched Online Futures Trading in multiple commodities namely, agricommodities, precious metals like gold and silver, other metals like steel, aluminium, etc. and energy futures namely, crude oil and furnace oil. During the year 200405, the company entered into the distribution business of insurance and financial products by incorporating three subsidiary companies through their wholly owned subsidiary Geojit Commodities Ltd.During the year 200607, the company promoted a joint venture company namely, Aloula Geojit Brokerage Company Al Johar Group in Saudi Arabia. During the year 200708, Geojit Financial Management Services Private Ltd, which was a subsidiary of Geojit Commodities Ltd, now became a direct subsidiary of the company. They formed a joint venture company namely Barjeel Geojit Securities LLC, Dubai, with Al Saud Group which is having diversified interests in the area of equity markets, real estates and trading. In September 2007, the company through their NRI Business, entered into an exclusive agreement with Bank of Bahrain and Kuwait which is one of the largest retail banks in Bahrain Kuwait.The company is in the process of forming a joint venture company in the Sultanate of Oman with The Financial Corporation Co SAOG to offer brokerage, financial products distribution and related services at an estimated investment of 2,55,000 Oman Riyals. Also they are in the process of starting the real estate and mortgage distribution services.The wholly owned subsidiary, Geojit Commodities Limited has discontinued the commodity brokerage business effective from 31stDecember, 2008. A Scheme of Amalgamation of Geojit Investment Services Limited with Geojit BNP Paribas Financial Services Limited was approved by the Board of Directors of respective companies and consequently, Company increased its stake in Geojit Credits Private Limited.In 2022, the Company had filed a Scheme of Merger by Absorption of Geojit Investment Services Limited, with the Company, with Kochi Bench of Honble National Company Law Tribunal. Honble Tribunal approved the said Scheme vide its Order dated March 16, 2022 and as a result, Geojit Investment Services Limited became a wholly owned subsidiary of the Company.M/s Geojit Investment Services Limited, which was a whollyowned subsidiary of the Company ceased to be a subsidiary in 2023. The Company launched a digital platform for Loan Against Mutual Funds to avail for loans by pledging their mutual fund holdings.