Bigshare Services Pvt. Ltd.
The Capital Market is a place where entities with funds invest their money, and businesses in need of funds find their investors. It is a supply chain between two entities, the investors and the businesses who seek investments. Investors include people from the retail sector or the institutional investors. And those who seek these investments are businesses, and sometimes the government.
The main motive of the capital markets is to raise funds and to discover the intrinsic value of the businesses with improved transactional efficiencies. This goal is achieved as the capital markets bring together entities who hold capital and businesses who seek capital, thereby providing a platform for these entities to exchange securities.
Having realized the importance of investor servicing and Registrars Services, N.V.K Mohan set up Bigshare Services in 1994. Bigshare Services Pvt. Ltd is in the BFSI segment and specifically into capital market, handling the important responsibility of shareholder servicing and compliance requirements.
Prior to setting up Bigshare, Mr. N.V.K Mohan worked as Vice-President with Canbank Financial Services Ltd. (CANFINA) since its inception in 1987 and was assigned specific responsibility of starting the Data Processing Centre at Mahim, Mumbai for carrying out Registrar & Transfer Agency activities. As head of CANFINA’s Registrar & Transfer Agency Division, he was responsible for all it’s operations and profitability.
About the Company-
BSPL was incorporated as a Private Limited Company with Registrar of Companies, Mumbai, on February 11, 1994 with the main objective of providing investor services in the Capital Market. In the same year, Bigshare got registered with Securities and Exchange Board of India (SEBI) to act as Category I Registrars to Issue and Share Transfer Agents. Since 2003 the Company also started servicing clients and their shareholders from its Hyderabad office and subsequently opened offices at New Delhi and Ahmedabad also.
Bigshare is amongst the top 3 Corporate R&T Agents in India and was Ranked as #1 by Prime Database for the maximum number of equity public issues handled in a year (For FY’s 2014-15, 2015-16, 2016-17, 2017-18 and 2018-19) as Registrar to the Issue. It’s current clientele exceeds 2500 Corporates which includes MNCs, PSUs, Banks and Blue chip Corporates. The Company has handled more than 500 Public/Right Issues and Open Offers so far.
From being a player who entered when there were as many as 200 players, some being well established, Bigshare could rise to be the among the top 3 service providing agents. This is the key achievement of Mr. N.V.K Mohan’s entreprenal journey. The single desire to be among the top players with wide recognition and respect in the industry with delivery of best quality services at each and every time remains the driving force of his company. He says, “I am a strong believer of constant vigilance and supervision. Being a student of engineering, I firmly believe that if left alone only ‘entropy’ seeps in any environment.”
Stepping into the vibrant and complex capital market as a service provider, one has to facilitate all the capital needs properly and with agility. In addition, it all comes with some of the other challenges. Bigshare Services too had its share of challenges when it started. Mr. N.V.K Mohan being a first-generation entrepreneur in his family, and also being the sole Executive Promoter, the biggest challenge he faced was of organizing the required capital and getting on board trained executives.
When Mr. N.V.K Mohan set up Bigshare Services, there already were other players in the capital market, who were offering the same services. This posed the next big challenge, to differentiate Bigshare services from others. The biggest turning point for BSPL came when they adopted services related to the dematerialization of shares in 1996/97. The faith in the market to adopt to this epoch and path breaking technology helped BSPL to reap in more business from many marquee clients.
The Service Portfolio-
Bigshare is focussed on shareholder servicing and compliance requirements associated with it. As a player which entered into this servicing only in 1994, when there were many already established players, BSPL knew from the beginning, the importance of personalized services coupled with adoption of innovative technologies. Though a small player in 1996, still they invested a substantial amount by borrowing from the banks to have the dematerialization facility. They adopted the latest Microsoft technologies for servicing by middle of 2000, though all other players including the large and established players were still using old programming tools like Foxpro/Cobol.
Bigshare offers services under various domains. These include IPO’s/FPO’s, SME IPO’s, Rights and Bonus Issues, Fixed Deposit and many more associated services.
- REGISTRARS AND TRANSFER AGENTS SERVICE-
- Recording of change in the form of holding i.e. conversion of physical holding into electronic holding (Dematerialization and Rematerialization)
- Recording movement of investor holding and their basic information including their specimen signatures in electronic media.
- Recording of Change of address, Bank Mandates and ECS requests received from investors in physical mode.
- Processing of Transmission/Transposition/Consolidation of holdings.
- Issue of Duplicate Share Certificates.
- Registration of Nomination
- Registration of Legal documents such as Power of Attorney, etc.
- Investor Services including providing investor related information, across counters through written communication and through telephone and via e-mail/mobile app.
- Disbursement of cash and non-cash Corporate benefits which includes Dividend/ Interest/Redemption Payments.
- DEPOSITORY CONNECTIVITY SERVICES
BSPL is connected to both Depositories i.e. National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSIL) and provides electronic connectivity interface to unlisted Corporate clients. BSPL also provides this service to large number of clients for Debt Instruments of Private and Public Limited Companies. The main services include :
- Interacting with NSDL/CDSL for ISIN creation/activation
- Dematerialisation and Rematerialisation
- Carry out Various Corporate actions
- Reconciliation of electronic holding
- Interacting with Depository Participants and other entities
- INITIAL/FOLLOW ON PUBLIC OFFERS – REGISTRY RELATED SERVICES
BSPL has acted as Registrars to Initial/Follow on Public offers both through fixed-price process and Book Build process for a number of clients in Main Board and SME Segments. The IPO registry related services include:
- Sending instructions to Banks
- Facilitate and establish information flow system between clients, Banks and Managers to the issue.
- Liaison with Regulatory Authorities such as Stock Exchange(s).
Activities during the Issue
- Collection of Data and Forms from Banks/SEs
- Liaise with clients and Issue Intermediaries
- Redressal of Investor queries
Post Issue Activities
- Data validation
- Provide Allotment Alternatives in consultation with Merchant Banker and Regulatory Authorities.
- Facilitating Listing.
- Filing of Return of Allotment
- Uploading of data to the Depositories for crediting of securities electronically.
- Dispatch of Refund orders/Share Certificates/Credit Advise.
- Periodic Report submission to Regulatory Authorities.
- Reconciliation of Refund payments.
- Attending to post issue Investor queries.
- Helping Clients to get the 1% refund.
- RIGHTS & BONUS ISSUES – REGISTRY RELATED SERVICES
- Printing & Dispatch of CAF with letter of Offer
- Collection of Daily subscription/Final Certificates and Application Form
- Data Capture & Preparation of Basis of Allotment
- Prepare Allotment Register, Print Share Certificate/Refund Orders
- Uploading of data to Depositories for crediting securities electronically
- Dispatch Share Certificates/Intimation letters
- Facilitate Listing
- Filing of Return of Allotment
- Reconciliation of Refund payments
- Attending to post Issue Investor queries
- Periodic submission of Reports to Regulatory Authorities
- Setting the Record in Depositories
- Print & Dispatch of Bonus Share Certificates/Intimation Letters
- Upload of data to Depositories for crediting securities electronically
- Facilitate Listing
- Filing of Return of Allotment
- Attending to post Issue Investor queries.
- OTHER RELATED SERVICES
- Handling Public Issue of Bonds
- Private Placement of Bonds
- Assisting clients on Startup listing
- Commercial Papers
- Certificate of Deposit
The company believes in Ethical, transparent and law-abiding practices with all its stakeholders, whether it is the client Company, Investors, Staff or Statutory agencies or other related parties. In order to follow the above in letter and spirit, the company has various internal committees.
The company’s guiding principle has always been – “To work for Total Satisfaction of all the stakeholders by providing Top Quality Service.”
Bigshare is now proposing to take forward their services by focusing on the delivery of best quality services by merging technologies. They are focusing on the servicing of Small and Medium enterprises (SME’s) and also the dematerialization work related to unlisted companies.
Bigshare’s Core Competencies are centred around:
• Data management
• Customer service, and
• Records management.
In line with their entrepreunal tradition and growth objectives, Bigshare is constantly engaged in evaluating opportunities to leverage these competencies. As such, expansion programs to move into other areas within financial services domain are also on the anvil. Bigshare is also considering various new areas thrown open with the Indian economy gaining momentum. Strategic alliances and investments are the natural next stop, having established a strong track record in the past 25 years.
“We feel we can establish complementarity with bigger global players who have objectives to gain foothold in the Indian market.”
One of the key factors for the strong track record in the domain of their operation is that they stand strongly to uphold the regulatory environment that they operate in. Despite the ups and downs that the Indian capital markets have witnessed in the last three decades, Bigshare is amongst a handful of financial services intermediaries, who have an unblemished track record with the regulators. This not only ensures safety and security of all stakeholders, but also provides confidence to the regulators .
“Stakeholder welfare has been the cornerstone of our organisational value system.”
Not only customers and shareholders, but also the employees and suppliers have been serviced continuously, and Bigshare therefore enjoys long relationships with all of these stakeholders and they form a large part of the strength that the company has gained in 25 years.
In the current economic environment where the government is encouraging various initiatives under Make in India, Bigshare Services has been proud to create its own internal software platform, to run the capital markets service offering. This ensures that they are quick to adapt the ever changing regulations, with the speed that none of the competitors can match. Apart from this, Bigshare also provides opportunities to their technology service partners with unique opportunities for innovation and system design.
Bigshare provides a culture of commitment and the opportunity of learning to all its employees whatever position they may hold. In fact Bigshare has emerged as the supplier of trained manpower in the area of their specialization.
“If only your client is happy and doing well, you will do well.”
Bigshare tries to help the client in whatever way possible. In a service industry like this, it is not sufficient to deliver good service to your clients; you should also become an in-house consultant/Advisor and must be in a position to guide the client if asked so.
The Board of Bigshare Services Pvt. Ltd. comprises of :
- N.V.K MOHAN
- N B PRASAD
- LORI LIVINGSTON
Mr. N.V.K Mohan – Leadership
His biggest inspiration came from the former Executive Director of Canbank who trained his thinking process with quotes like “ Slogging only gives Sympathy , only results will give you rewards.” His another fellow agency Managing Director, where he briefly worked, made him to practice “ Not to have strong likes or dislikes, be like a water drop on a lotus leaf”. This has helped him to hire employees without any prejudices depending upon the competency and also take the success and failure in equal measure.
N.V.K Mohan believes that as an entrepreneur one should have a mix of all skills related to domain knowledge, marketing, finance and execution ability. He understood in early part of his entrepreneurship that an employee turned entrepreneur like him will face capital and trained manpower constraints till the business establishes.