March 30, 2019.
Re: IMPORTANT ANNOUNCEMENT - Integration of Concept with R. Wadiwala.
We are extremely pleased to announce that we have entered into firm agreement with 75 years old highly reputed broking entity `R Wadiwala Securities Private Limited’ for merger with our broking and DP arms with them. It is going to an integration of equation 1 + 1 = 11 for all the stake-holders; owners, employees and clients. The merger is subject to regulatory approvals and should take six to nine months.
Rationale of this decision is that consolidation helps in regrouping activities in accordance with the core competence, achieve scale, give better value addition and use of technology makes administration efficient. This is a new paradigm of 21st Century that we are following.
The merged entity (R Wadiwala Securities Private Ltd) will now be much stronger company with asset under custody of around Rs 1100 cr and client base of around 35000. The company will be operating from around 70+ locations and will have highly trained manpower of around 125 people. The synergy will allow us to bring margin trading facility, proven mobile trading systems, automated payment systems, outstanding back office app and upgrade our service standards to the best in the industry. This merger provides an edge in the competition.
For you as a client, nothing changes. You will NOT need to open a new account. There will be no immediate effect on your order placing, account, back-office etc. The transformation will be done in seamless manner. Even people in your relationship will remain the same. In the near future, however, you will receive information concerning new policies which will include many personalized services. My role continues. We are going to be part of the merged entity and will continue to be available for all your needs as has been in past. Only change is that we both the entities will work together in a unified way.
Few services that will make dealing easy are:
And much more…..
We are planning to organize one `Investors’ Meet’ after few months to demonstrate the advantages.
CONCEPT + R WADIWALA = A great new company with the combined experience of 100 years in stock-broking
We have informed you earlier that we have moved our non-secondary market business of Advisory, PMS, Mutual Fund, Bonds etc. to new entity Concept Investwell Private Limited w.e.f. January 01, 2019. This will continue in new company.
We are very thankful to you for all your support in past and expect the same patronage in years to come
[ Chairman ]