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Malvinder Singh, Chairman, Religare Enterprises, said the company is open to more partnerships and acquisitions.

Singh said Religare Enterprises plans to enter into the life insurance business with Aegon.

Excerpts from CNBC-TV18’s exclusive interview with Malvinder Singh:

Q: What are your plans for the company? Are you now seeing it as full-fledged financial services company?

A: We have always viewed it as a full-fledged financial services company. This is really the beginning of growth of that company. The best is yet to come. There is lot of work and effort going towards creating a diversified fully integrated financial services play. We are extremely committed to making sure we become a leader in the financial services sector in India.

Q: Would the growth involve a lot of inorganic initiatives? Are you already talking to foreign or Indian partners either for takeovers or for joint ventures?

A: There are a lot of opportunities in that area. We have grown rapidly over the last few years and have developed some strong global strategic partnerships in different aspects of the business. We will always be open to exploring opportunities for more partnerships and acquisitions in India and internationally.

Q: At this point of time, would it be reasonable to assume that you are already in discussion with any players domestic or global?

A: We are always looking at strengthening our partnership and providing a better proposition of values in terms of products and services to our customers. There is a huge growth that we will continue to see in the services industry in India, particular in financial services. I would certainly like to believe that we are very well positioned at an extremely appropriate time to capitalize on those opportunities over the next few years.

Q: You have applied for an AMC sponsorship with Sebi along with the Aegon. Are there any such similar tie-up plans that you have at this stage to diversify the product portfolio beyond just institutional broking and investment banking, to take forward the step of becoming a pan India player?

A: We are a pan India player today and have a series of products and services across the different segments of the financial services spectrum. We will look at continuing to deepen our presence and strengthen the products and services that we are providing. We have a very strong pan India network of our services in terms of branches and activities that we have. That is a very strong foundation and base on which we will be able to build and add significant value for our customers as we move forward.

Q: Did it cross the group’s mind to set up a bank? Is that the final target which you are looking at? Is insurance anywhere on the radar?

A: Insurance is definitely there. We have a joint venture with Aegon. I will certainly hope that sometime early next year, we will be able to launch our life insurance venture. That is a very integral component of the financial services industry and our intention is to be a leader in that. Banking is a related and an integral part of the financial services world, but we need to take things one-step at a time.

Q: Beyond what was raised in the IPO for Religare, what sort of investment will this entity require between now and in the next couple of years, to bring through all these plans that you are mentioning?

A: There is a very well laid and thought out plan. We are acting on that step-by-step

Source: Moneycontrol.com