BLB to diversify into insurance broking and real estate sector

BLB Ltd has announced that the Board of Directors of the Company at its meeting held on November 27, 2006, inter alia, has approved the following business development plans:

1. To diversify into Insurance broking Services and Real Estate Sector, by incorporating new subsidiaries / entities.

2. To cater clients by providing broking Services of various financial products. A step ahead of this, Company shall apply for PMS Licence with SEBI and it also foresees to enter into investment Banking and other advisory services as permitted.

3. To raise funds for expansion and diversification of the company and its subsidiary and associated companies for the following business purposes.

a. For setting up new branches, on all India basis to cater clients of all categories, for dealing and trading into Securities.

b. To enhance the Core business model, i.e., Jobbing and arbitrage segment, by increasing dealerbase, in this regard.

c. To infuse more funds into the below mentioned Subsidiary and Associated Companies to strengthen their business model:

i. BLB Institute of Financial Markets Ltd (BIFM): A wholly owned subsidiary Company of the Company. Funds be infused to open new institutes for providing educational courses and training on capital markets and other subjects.

ii. BLB Commodities Pvt Ltd: An Associate Company of the Company. To strengthen capital base of the Company and to provide working capital to expand clientele services into online Commodities trading services.

iii. Agroecommerce Networks Pvt Ltd (ANPL): Another associates Company of the Company, an agro based IT portal Company to facilitate various Institutions, marketing Companies, NGO's farmers by providing and advice them a low cost. Technical platform to deal in various agro products at completive margins through a channels. Funds are required to enlarge the scope of business and working capital.

Source : Equity Bulls

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