National distributors who had put their expansion plans on hold during the recession are gearing up to expand rapidly as they see there is enough business for both mutual funds and corporate FDs, said a top AMC official.
“We are planning to set up 150 investment centers by the end of this calendar year,” said Anil Chopra, CEO,Bajaj Capital.
Bajaj capital plans to add 16 new investment centers and four to five new wealth cafés that focus on their top-end clients. It is planning to open new cafes in Gurgaon, Bengaluru, Pune and Mumbai. Currently, the national distributor has 134 investment centers and 2 wealth cafes.
According to industry sources, a number of national distributors like NJ India Invest and Tata Capital are actively looking at expansion. Most of them had stepped back during recession because of the infrastructure cost involved in expansion.
