Exhilway To Hire 7,000 People In India, Plans US $2 Billion Investment

Online, September 12, 2011 (Newswire.com) - Exhilway, the Canada's 6th largest wealth management company, will hire 7,000 people in India this year via the best known social networking mediums like Facebook, LinkedIn and Twitter. Exhilway intent to expand aggressively in the financial sector in India, over Rs 500 crore or US $100 million is already invested in infrastructure and setting up of branch offices nationwide. Exhilway will also apply for memberships of the Indian stock exchanges and will foray into the broking business.

The clarity on whether Exhilway will go solo or will acquire some midsized financial company is not provided by the management. The officials of Exhilway will meet Mr Pranab Mukherjee, the finance minister of India later this month to discuss some key strategies planned for India. According to the company insider, Exhilway will invest Rs 9,000 crore or US $2 billion in India and will also expand in business sectors other than finance. Exhilway may also help Indian government to set up SME Stock Exchange and may provide market making services.

Simultaneously, Exhilway will also create over 15,000 job opportunities in the United States and have already met some of the key politicians there. Exhilway currently employs over 9,000 people globally.

"Exhilway is an extremely huge and a cash rich enterprise, there arbitrage business constitutes nearly 3% of the global turnover. There entry will ignite fresh competition in the brokerage sector in India", said Rajesh Jain of IFL Securities.

Exhilway posses over US $4 billion in cash and will go for some big acquisitions and the turbulent time in the Indian stock market will get them great companies for good discount.

The Malhotra and the Gupta family which owns the exclusivity of distributing the Exhilway's offshore products in India may exit which may fetch them around Rs 5,400 crore or US $1.2 billion as per the current valuations. The exit via IPO route may triple this amount.