"The proposal is to raise funds through private placement to a couple of private equity funds in the next 6-8 months," India Bulls chief executive and co-founder, Sameer Gehlaut told The Financial Express. In the first tranche, Orbis Infotech placed close to 21 per cent of the equity with two private equity funds-Tranatalantic and a LN Mittal-promoted fund. After the placement of equity to TV 18 in the second tranche, the stake of two private equity funds came down to around 17 per cent.

Orbis Infotech has a current equity of Rs 2 crore, represented by 2 crore share of Rs 1 paid up value.

Orbis Securities, which was bought last year will take up activities in the financial sector and undertake stock broking and related activities (both physically and through the Internet). It also proposes to take up other activities like Portfolio management service, financial consultancy, leasing and financing and custodial services.

"The company also proposes to launch a unique scheme, `cash management account' which is based on the US model of Fidelity account launched there in 1970s," Gehlaut said. Cash management scheme will offer the option to investors to park their idle money lying with the equity broking company in money market mutual funds. As soon as the money is required for equity, the money is withdrawn from the mutual funds.

Orbis Infotech's proposed AMC will launch the money market mutual fund.