Karvy Corporate - A Comprehensive Company Profile

Karvy Corporate is a well-established financial services company that has been in operation for over three decades.

Founded in 1982 by C. Prabhakar Reddy, Karvy Corporate has grown to become one of the largest financial services companies in India.

Karvy Corporate is headquartered in Hyderabad, Telangana, and has a significant presence in the Indian financial market.

The company offers a wide range of financial services, including stock broking, portfolio management, and distribution of financial products.

Karvy Group has a complex business structure with multiple verticals and subsidiaries. The company has restructured its business into two main verticals: Financial Services and Non-Financial Services.

Financial Services includes stock broking, wealth management, commodities trading, and investment banking, among other services. This vertical is headed by Amitabh Chaturvedi, a seasoned industry veteran with over 30 years of experience.

Karvy Group has 19 subsidiary companies under its umbrella, including Karvy Stock Broking Ltd., Karvy Comtrade Ltd., and Karvy Capital Ltd. These subsidiaries offer a range of services, from equity broking and commodities broking to non-banking financial services and data management.

Here is a list of some of the key subsidiaries:

Karvy's founders and board of directors are a key part of the company's structure.

Yugandhar Meka is a Co-Founder & Managing Director of Karvy, and he's also an angel investor in one startup.

Ramakrishna Siva Mulpuri is another Co-Founder & Director of Karvy, and he too has invested in one startup as an angel investor.

Karvy's founders have a significant stake in the company, but the exact percentage is not publicly disclosed in the provided information.

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Karvy Group has restructured its business into two main verticals: Financial Services and Non-Financial Services.

The Financial Services vertical will include stock broking, wealth management, commodities trading, and investment banking, among others.

Amitabh Chaturvedi has been appointed as Group CEO - Financial Services, bringing over 30 years of experience in the financial services space.

He has previously worked with leading organizations such as Dhanalakshmi Bank, Reliance AMC, ICICI, and the Essel Group.

Karvy Group has initiated a major management reshuffle to improve governance and functioning across the enterprise.

The Non-Financial Services vertical will comprise data management services, data analytics, market research, and allied businesses.

Karvy Data Management Services has acquired the call center business of Media Matrix Worldwide Ltd for Rs 30 crore in 2017.

Karvy Group has nineteen subsidiary companies under it, including Karvy Stock Broking Ltd. and Karvy Comtrade Ltd.

Here are the nineteen subsidiary companies under Karvy Group:

A company's legal structure is a vital aspect of its overall business strategy. Karvy, a financial service provider, has various legal entities associated with it.

Karvy has multiple companies, each with its own CIN (Corporate Identity Number) and date of incorporation. For example, Karvy Innotech Limited was incorporated on September 28, 2012.

The company also has a range of subsidiaries, each with its own unique characteristics. Karvy Insurance Repository Limited, for instance, had a revenue of $1.49M as of March 31, 2022.

Karvy's legal entities include Karvy Consultants Limited, Karvy Insights Limited, and Karvy Next Limited. Each of these companies has its own employee count, with Karvy Consultants Limited having 3 employees as of October 31, 2019.

Here is a list of some of Karvy's legal entities, along with their CIN and date of incorporation:

Karvy's legal entities are a testament to its growth and expansion over the years. The company's ability to create and manage multiple entities is a key aspect of its business strategy.

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Karvy Corporate has secured a total funding of $32.9M through one funding round.

Karvy's latest funding round was a PE round led by ICICI Venture, which took place on November 16, 2007.

ICICI Venture and BPEA EQT participated in Karvy's latest funding round, contributing to the company's growth.

Karvy has 9 institutional investors, including ICICI Venture and BPEA EQT, which have played a significant role in the company's development.

Karvy's largest institutional investor is Compar Investments.

Here is a list of some of Karvy's institutional investors:

Karvy has also received funding from Angel Investors, including Rajat Parthasarathy and 9 others.

Prudent Corporate Advisory Services has acquired Karvy Stock Broking's mutual fund business through a bidding process.

The deal was conducted by a joint committee of stock exchanges, including the National Stock Exchange and the BSE.

Prudent Corporate specializes in personal and corporate investment planning services, selling mutual funds, bonds, broking, and insurance products through its distribution network.

It recently filed draft papers for its initial public offering, which is expected to be launched in the second half of this month.

The size of the IPO is about $67.4 million (INR500 million).

Prudent Corporate will use the mutual fund business to expand its geographic reach and deepen its existing presence in the retail wealth management sector in India.

Acquiring Karvy's MF folios shows Prudent Corporate's commitment to growing its distribution network and reinforcing its belief in the retail wealth management sector.

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Karvy Corporate has been involved in some serious controversies and issues over the years. In November 2019, the Securities and Exchange Board of India barred Karvy Stock Broking Limited from purchasing shares in delivery and accepting new clients pending a forensic audit.

SEBI found that Karvy had defaulted on Rs. 2000 crore of investor funds by pledging the securities holdings of its customers. The company had sold excess securities worth Rs 485 crore through nine related clients and transferred excess securities worth Rs 162 crore to six of the nine related clients.

C. Parthasarathy, the Chairman of Karvy Reality (India) Private Limited, was arrested by the Enforcement Directorate in January 2022. He was later released on bail.

A fresh criminal case was registered against C. Parthasarathy on 25 November 2022 for cheating investors from Kolkata and Kerala by engaging to sell plots in 2019.

Here are some key facts about the controversies and issues surrounding Karvy Corporate: