Bajaj Capital to open office in Dubai

NEW DELHI: Bajaj Capital on Thursday said it would set up its first overseas office in Dubai by the end of the current fiscal and entered into share-broking business by launching a trading portal.

"We have firmed up plans to open our office in Dubai to cater to the Indian diaspora in the gulf region. The branch would become operational by March 2008," Bajaj Capital Managing Director Rajiv Deep Bajaj told media.

A local partner has already been shortlisted and the joint venture has been finalised, he said.

Besides in Dubai, the financial planning and investment advisory company also plans to open offices in some other parts of the globe.

The online trading portal, Just Trade, is a precursor to opening overseas office, as the medium breaks geographical boundaries, he added. The portal is designed as a global investment platform to cater to resident Indians and NRI investors across the world.

Elaborating on the online investment and stock broking service, Bajaj said the portal would provide financial planning option along with share trading. It would help investors access mutual fund products of 12 fund houses.

The portal would offer in-house research and the charges would be competitive. Besides, it would serve the needs of various categories of investors.

The firm, which has tied up with ICICI and HDFC banks, aims to have one lakh account holders in the next 12 months.