1984 - India Securities Limited was incorporated on 20th July in the
name of Dear Leasing and Finance Limited. It was promoted by
S.L. Gupta, B. Goyal, R.K. Sanpar & associates. The Company
obtained the Certificate for Commencement of Business on 27th
1987 - The name of the company was changed to India factors Ltd. on
1st May, and it was once again changed to India Securities
on 23rd May, 1990.
- The Company's focus is on finance, corporate advisory
project finance, intermediation services project money and
foreign exchange markets.
- The Company provides fund based and non fund based financial
solutions to both wholesale and retail segments through
of five companies viz. India Securities Ltd., Indsee Share &
Stock Broking Ltd., Indsect securities & finance Limited,
investment Limited Indsee Holdings Ltd.
1992 - The Company as a merchant banker was associated with 27
amounting to a total issue size of Rs 1269.86 crores.
- 2,48,000 No. of equity shares issued, subscribed and paid up.
2,48,000 Rights equity shares and at par in prop. 1:1.
January, 1992, the company issued. 37,00,000 shares in prop.
75:100. Another 63,00,000 No. of equity shares were issued
through a prospectus of which the following were reserved for
allotment on a preferential basis. (1) 5,00,000 shares to
employees (only 10,400 shares taken up). (2) 20,00,000 shares
NRI's (all were taken up) Balance 38,00,000 shares were issued
the public, along with 4,89,600 shares not taken up by the
employees. Additional 14,83,590 shares were allotted to
oversubscription (58,590 shares to employees; 5,55,000 shares
shareholders on Rights basis; 3,00,000 shares to NRI's &
shares to the public).
1996 - During August, the Company issued Hi-Coop debentures and Zin
debentures of coupon rate 18% and face value of Rs 5000 each
private placement to the tune of Rs 20 crores. These are to
redeemed at the end of 18 months from the date of allotment.
- 10,019-19% Zin debentures at a face value of Rs 6565 and
price of Rs 5000 were allotted. 13313-Hi-Coop - 19% non
convertible debentures were allotted.
- The Company issued 57,50,000 No. of equity shares of Rs 10
at a prem. of Rs 21 to the promoters on private placement
Each share had 4 warrants attached to it entitling the holder
apply for 1 equity share per warrant at a prem. of Rs 21 per
share after 3 years from the date of allotment.
2001- The shareholders of India Securities Ltd, an Essar group
finance company, have approved a proposal to delist its shares from
Bangalore (BgSE), Delhi (DSE) and Chennai (MSE) stock exchanges.
-Delists securities from The Delhi Stock Exchange Association Ltd
(DSE) w.e.f. July 15, 2005.