Wisec Global Ltd

With the Indian economy opening up in 1991-92, the Gadgil Western group, to make a concentrated effort in finance, formed Western India Securities (WISEC), now called Wisec Global Ltd. The company obtained clearance from SEBI to become a category-I registrar and commenced operations in 1992, initially from its registrar and share transfer agency division. By the end of 1992-93, the division (currently called the share services division) had created enough market awareness to help the company expand its client base. In 1994, it decided to steadily broad-base its activities to tackle the fast expansion and swelling competition in the financial sector. Since Apr. '94, there have been five business divisions operating with a pragmatic mix of fee-based and fund-based activities -- the share transfer agency, investments and equity research, corporate advisory division, the treasury division, the trade finance division and the stock broking division. This phase established the presence of WISEC in the identified areas and provided it with an opportunity to gain valuable experience. By the end of 1994-95, WISEC had achieved a sound infrastructure for its various activities.