Kotak Securities has set up an exclusive Corporate Development Department (CDD) for this initiative and an initial investment corpus of Rs 50 crore.
Jaideep Hansraj, MD & CEO, Kotak Securities, said, "In today's fast paced world of rapid advancements in technology, we need to be ahead of the curve in terms of product offerings to our customers. Broking and distribution business has become more of a technology play, and this has gained further prominence in the new normal. We strongly believe technology innovation will gauge the competitiveness of a broking firm; however, developing technology involves money and time. It is with this purpose that we have launched our investment and engagement programme where we will partner and pick minority stake in fintech companies that makes strategic sense to Kotak Securities."
Shripal Shah, President – Head Operations, Finance and Technology, Kotak Securities, said, "Kotak Securities will evaluate opportunities of investing, partnering and incubating start-ups and for the right idea, we are willing to back the promoters and take strategic equity stake in the startup. While we get access to some exciting technology plays, start-ups get the advantage of product validation, mentorship and institutional capital."
KSL will launch incubation/accelerator programmes, hackathons, networking events, pitching sessions and demo day programmes for early stage start-ups in-house as well as with other incubator/accelerator groups. There will be a dedicated section on the KSL website where interested start-ups can register and submit innovative ideas and products for evaluation and find various updates under this programme.
About Kotak Securities Limited
Kotak Securities Limited (KSL) is a subsidiary of Kotak Mahindra Bank Limited and the stock broking arm of the Kotak Mahindra Group. As on 30th December 2020, Kotak Mahindra Bank Limited's market capitalisation is close to Rs. 4 lakh crore. Further, with a net worth of Rs. 4,897 crore as on 30th September 2020, makes KSL the brokerage company with highest net worth in the Indian broking industry. Backed by top-of-the line research analyst team – fundamental as well as technical, large branch network, vast franchisee network and referral coordinators spread across Kona Kona of India, and its robust digital trading platform – Internet and App, and decentralized personal dealer services, KSL processes several lakhs of secondary market trades every day. Furthermore, KSL offers a wide range of financial products including Equity, Derivatives, Currency Derivatives, Commodity Derivatives, IPOs, Mutual Funds and Insurance.