1985 - The Company was Incorporated on 27th May, under the name
Trading Enterprises Pvt. Ltd. Later the name was changed to
Alpic Finance and Leasing Pvt. Ltd., on 10th April, 1986.
name of the Company was further changed to Alpic Finance Pvt.
Ltd. on 5th July, 1991. Subsequently, it was converted into
public limited company on 29th September, 1992.
- The Company was initially promoted by Mrs. Shirin Hamied and
Geeta Lulla. In order to broadbase the Company's operations
Param Pharma Pvt. Ltd. Saga Chemical Pvt. Ltd., Alpic Pharma
Ltd. and Hamsons Laboratories Pvt. Ltd. had made a
investment in the capital of the Company. Initially the
was operating in the fields of equipment leasing and hire
purchase financing. Later entered into other areas of
services such as spanning corporate finance, consumer finance
investment advisory services to Merchant Banking, Forex and
- The Company's object is to Carry on the business of leasing,
purchase, bill discounting, security and a range of financial
1991 - The Company made an application to the Securities and
Board of India for authorisation as category I-Merchant
- The Company also made an application for membership to the
to act as a sponsor market maker and dealer in OTC listed
The Company was granted a full-fledged money changers licence
RBI to enter into the foreign exchange business.
- The Company also obtained permission from RBI to accept fixed
deposits from NRIs on a repatriable basis.
1992 - The Company had the distinction of being classified as a
I Merchant Banker and a sponsor member of OTC besides
a full-fledged Money changers Licence.
- 15,00,000 bonus shares issued in prop. 3:1. 10,00,000 shares
then issued (prem. Rs.90 per share) of which 90,000 shares
reserved and allotted to promoters, directors etc. Out of
remaining 9,10,000 shares 10,000 shares were reserved for
preferential allotment to employees (only 3,600 shares taken
The balance 9,00,000 shares along with 6,400 shares not taken
employees were offered to the public in Feb. 1993 (all were
1994 - 29,99,100 bonus equity shares allotted in prop. 1:1.
right equity shares issued (prem. Rs.30) in prop. 1:1.
No. of equity shares (prem. Rs.290) allotted to FIIs on
placement basis. 2,500 No. of equity shares kept in
1995 - The Company's joint venture namely Alpic Everest Finance
Katmandu, received operating licence and started operations.
1996 - The Company received license from the RBI to set up a local
bank in Maharashtra. The company signed a MOU with Allianz
Germany and MMI Insurance of Australia, to set up general
and life insurance joint venture insurance companies in India
upon the opening up of the insurance sector.
- During the year, an international services division a single
window project management outfit to cater to the growing
of post liberalised India. The division offers complete
from entry point requirements to feasibility studies, to
structuring, to technical sourcing, to obtaining approvals
- The Company proposed to export financial expertise to Nepal
setting up a Pioneer Joint Venture Financial Services
The Company signed a Memorandum of Understanding to provide
services including initial feasibility studies; assessment of
market potential; advice on market positioning; products and
services; deputation and personnel; assistance in formulation
business policy/practices; establishment of effective
organisation and systems; use of modern financial analytical
tools and research etc.
- The Company also proposed to promote a joint venture
services company with Bank of Bahrain & Kuwait B.S.C. to
facilitate Indo-Gulf Trade, promote joint ventures attract
investments and to float an Offshore Mutual Fund.
- 1,300 No. of equity shares issued out of 2,500 shares kept in
abeyance in 1994-95 private placement issue.
2000 - Crisil has put the FB+/BB+ and the FA rating assigned to
Alpic Finance and Srei International Finance
rating which with developing implications.
2001 - The Credit Rating Information Services of India Ltd has
suspended the ratings
assigned to Alphic Finance's non-convertible debentures
and fixed deposit
programme on account of lack of co-operation from the
company for carrying out
a rating review.