Risiko India (ADAM Global Member) – Celebrating the power of partnerships
RiSiko India was invited to be part of the VISTRA ITCL event for rebranding the recent partnership & acquisition of an Indian Based Trust Services provider firm. The Hong Kong-based Vistra Group Ltd has acquired IL&FS Trust Co. Ltd, India’s largest independent corporate trust services provider, for an undisclosed amount. The group declined to disclose deal details.
Vistra Group provides solutions to international corporations, trust, fiduciary, fund and corporate services. It has presence in more than 30 countries. With this acquisition, Vistra Group will gain a foothold in the Indian corporate services market, enabling it to expand the platform to provide a broader suite of corporate and fiduciary services, the Vistra Group said in a statement.
ITCL, founded in 1995 as a subsidiary of IL&FS Group, one of India’s leading infrastructure development and financial services groups. It caters to full range of debt market issuances, including debentures, bonds as well as deposits, term loans, external commercial borrowings and private equity.
ITCL, registered by the Securities Exchange Board of India (Sebi) as a licenced trustee, has significant market share in the area of debenture trusteeship and alternative investment funds, Vistra Group said.
ITCL has a large business network with corporates and intermediaries across all major business cities in India, serviced by their offices in Mumbai, Delhi, Kolkata, Chennai and Bangalore.
The acquisition has approval of all regulatory authorities in India, Vistra Group said. Laws in India mandate all issuers of listed bonds and debentures to appoint an independent trustee to safeguard investor interests.
Following their acquisition earlier this year by Vistra, IL&FS Trust Company Limited (ITCL), the largest independent Corporate Trust Services provider in India, today launched their new brand identity, as they transition into a global brand as a Vistra company.
The transition to becoming an internationally recognised entity includes the renaming of IL&FS Trust Company Limited (ITCL) to Vistra ITCL (India) Limited and the unveiling of their new logo, which will take the shape of Vistra’s arrow symbol, conveying forward momentum and trust.
By becoming part of the Vistra network, Vistra ITCL broadens its reach into an extensive network of 64 offices in 41 jurisdictions around the world, therefore allowing the company and its clients an opportunity to explore and harness international relationships. Moving forward, it will be business as usual for all of Vistra ITCL’s employees and clients.
Currently Vistra ITCL, India arms administer assets over US $ 90 Billion under various fiduciary structure.
Mr. Vimlesh Chaurasia, Managing Partner & Mr. Hiren Doshi, Managing Partner from RiSiKo Consulting LLP (representing Adam Global Mumbai, India) was personally invited by Miss Navita Yadav, Managing Director & CEO, Vistra ITCL Limited.
It was RiSiKO India’s pleasure to be part of such an event and we feel Trustee Services, Fiduciary Structure and various such corporate services can become future service wings of Adam Global’s Network and we should think in this line to expand our service line.