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Apollo Finvest (India) > Company History > Finance - Investments > Company History of Apollo Finvest (India) - BSE: 512437, NSE: N.A
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Apollo Finvest (India)

BSE: 512437|ISIN: INE412D01013|SECTOR: Finance - Investments
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Dec 11, 16:00
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Apollo Finvest (India) is not listed on NSE
Company History - Apollo Finvest (India)
The company was originally incorporated on July 29, 1985 as a public 
 limited company under the name of Appollo Mercantiles Limited and
 received the Certificate for Commencement of Business on December 10,
 1985.
 
 The Company was originally engaged in Trading and Agency business in
 Telecom and Telecom related Products.  The Company then diversified
 it's business by entering in the Financial Services.  Subsequently,
 the name of the Company was changed to Apollo Finvest (India) Limited
 (AFIL) and a fresh Certificate of Incorporation dated May 12, 1992 was
 issued to this effect by the Registrar of Companies, Maharashtra.
 
 CHANGE IN REGISTERED OFFICE:
 
 The Company has changed it's Registered Office to its new premises at
 the following address:
 
 3/3 A,  Rahimloola House,
 7, Homli Street, Fort, Bombay-400 001
 
 The Company was initially engaged in the trading activity of telecom
 products and pipes.  Subsequently, with the shifting of the
 Registered Office at the new premises at Fort, Bombay, the Company
 started operations for retail and corporate lending, Merchant Banking
 and Money Market related activities.  Meanwhile, the Company had also
 acquired the dealership of OTC Exchange of India (OTCEI) wef December
 18, 1991, and operations in this line started during the year 1992-93.
  Further, the Company also started investments and trading in shares
 in the secondary market in its own portfolio.  The Company also got
 itself registered with SEBI as Category I Merchant Banker w e f
 December 16, 1993, and started underwriting of the various Issues in
 the primary market.
 
 The Company is an existing profit making and dividend paying company,
 and its shares are already listed at Bombay, Ahmedabad and Jaipur
 Stock Exchanges.
 
 MAIN OBJECTS OF THE COMPANY
 
 The main object of the company as specified in the Memorandum and
 Articles of the Company are as follows Main Objects
 
 1.  To carry on the business of dealers, general order suppliers,
 contractors, importers, exporters, merchants, stockists, buyers,
 sellers, growers, agents, brokers, commission agents and dealers in
 cotton, jute, tea, coffee, rubber, oil, grains, pulses, seeds,
 vegetable products, cotton goods, jute goods, textiles, garments,
 yarn,
 synthetic goods, fibrous materials, mill stores, coal, chemicals,
 fertilizers, building materials, office appliances, domestic
 appliances furnitures, decorative items, gift items, steel utensils,
 plastic goods, rubber items, pulp, paper, engineering goods,
 electrical items,
 electronics items and cast iron items.
 
 1. A. To establish and carry on the business of merchant banking
 including Issue Management, Advisory Services and Portfolio
 Management Services and to promote, establish, finance or in any
 other manner, support or encourage establishment of industrial/
 commercial enterprises or companies engaged in industrial, commercial
 and trading activities.
 
 Note: Pursuant to a Special Resolution passed at the Annual General
 Meeting held on August 20, 1993 as per Section 17 of the Companies
 act, 1956, the main object of the Company was amended to commence
 business as mentioned in Object Clause 1 A.
 
 INCIDENTAL AND OTHER OBJECTS
 
 2.  To advance, deposit or lend money and properties to or with any
 company, body corporate, firm, person or association on such terms as
 may seem expedient, to discount, buy, sell and deal in bills, notes,
 warrants, coupons, import entitlements and other negotiable or
 transferable.  securities or documents, to guarantee or become liable
 for the payment of money or for the performance of obligations and
 generally to transact guarantees and/or Trust business.  Provided the
 Company shall not carry on Banking business as defined by Banking
 Regulations Act, 1949 and subject to the provisions of the Companies
 Act and directives of Reserve Bank of India.
 
 To sell, exchange, mortgage, let on lease, royalty or distribute,
 grant licences, easements, options and other rights over and deal
 with or dispose of the undertaking property, assets, rights and
 effects of the Company or any part thereof for such consideration as
 may be though fit
 and in particular for stocks, shares whether fully or partly paid up
 or securities of any other Company.  To carry on the business of
 managing other leasing Finance Companies and/or acting as
 leading/Finance advisers and consultants on all matters and problems
 relating to Financial services, administration, organisation, new
 ventures and expansion of existing concerns.
 
 To lend money either with or without security and generally to such
 persons and upon such terms and conditions as the Company may think
 fit.
 
 To subscribe for absolutely or conditionally, purchase or otherwise
 acquire and to hold, dispose of and deal in stocks and securities or
 obligations of any other company whether Indian or foreign.  Subject
 to the provisions of the Act to invest moneys of the Company not for
 the time being required for any of the purposes of the company in
 such investments (other than shares or stock of this company) as may
 be thought proper and to hold, sell or otherwise deal with such
 investments.
 
 To borrow or raise or secure payment of money or to receive money on
 deposit at interest for any of the purposes of the Company and at
 such time or times and in such manner as may be thought fit and in
 particular, by the issue of debentures, or debenture-stocks perpetual
 or otherwise, including debentures or debenture stocks convertible
 into
 shares of this or any other company or perpetual annuities and as
 security for any such money so borrowed, raised or received, or of
 any such debentures, or debenture-stock so issued to mortgage pledge
 or charge the whole or any part of the property, assets, or revenue
 and profits of the Company present or future including its uncalled
 capital by special assignment or otherwise or to transfer or convey
 the same absolutely or in trust and to give the lenders power of sale
 and other powers as may seem expedient and to purchase, redeem, or pay
 off any such securities, provided, the Company shall not carry on
 Banking business as defined by the Banking Regulation Act, 1949 and
 subject to the provisions of the Act and directives of the Reserve
 Bank of India.
 
 To carry on the business of speculation in shares, stocks,
 debentures, debenture stock, bonds, obligations and securities issued
 and commodities permitted by any law for the time being in force in
 the country.
 
 Note : Pursuant to Section 149 (2A) (i) of the Act, a Special
 Resolution was passed at the Annual General Meeting of the Company
 held on August 9, 1994 authorising the Company to carry on the above
 businesses.
 
 PRESENT BUSINESS
 
 The Company is presently engaged in the comprehensive range of
 activities which can be broadly classified into six major categories
 as under :
 
 1. Marketing of Telecom Products and pipes
 2. Leasing & Hire Purchase Finance
 3. Merchant Banking
 4. Bills Discounting & Money Market Operations
 5. Investment & Portfolio Management
 6. OTCEI Operations
 
 1. Marketing of Telecom Products and Pipes:
 
 Over the years, AFIL has developed a good marketing set-up for
 marketing telecom products.  The Company is an authorised agent for
 various telecom products of companies like :
 
 1.  Birla 3M Ltd.
 2.  The Arvind Mills Ltd (Telecommunications Division)
 3.  Himachal Futuristic Communication Ltd-
 
 AFIL is also an authorised agent for many G.I.  Steel pipes
 manufacturers and HDPE pipe manufacturers like
 
 1. Zenith Ltd.
 2. Quality Steel Tubes Ltd.
 3. Rajinder Steels Ltd.
 4. Chemiplast Industries
 
 The Company is expanding its marketing activities substantially and
 many more products of well known companies are likely to be added to
 the Company's marketing list.
 
 2. Leasing & Hire Purchase Finance:
 
 AFIL offers Leasing assistance on flexible terms, bearing in mind the
 Lessee's needs.  Primarily it is engaged in the leasing of industrial
 equipments to corporate clients.  The Company has started its Lease
 Financing operations in the financial year 1992-93 and within short
 period of two years, it has done leasing business of Rs.221 lacs
 till
 July 31, 1994.  Further a sum of Rs. 500 lacs has been earmarked for
 the purpose of creating leased assets during the current year.
 
 3. Merchant Banking
 
 AFIL is a CATEGORY-1 Merchant Banker duly registered with SEBI.  With
 the help of experienced and professional management, it plans to
 create a niche for itself among the private sector merchant bankers. 
 AFIL is presently concentrating mainly on the following activities:
 
 1. Extending underwriting support
 2. Capital structuring and other allied services.
 3. Mobilisation of funds from the primary market.
 
 The Company is active in extending underwriting support to various
 companies in their Public issues.  Upto July 31, 1994, the Company
 has given underwriting commitments for 83 issues amounting to Rs. 925
 lacs.  The Company has not refused to honour any of its underwriting
 commitment till date.
 
 4. Bills Discounting & Money Market Operations
 
 AFIL has started these activities in the year 1992 and registered an
 income of Rs 47.27 lacs during the year 1993-94.  This fund based
 activity covers discounting of trade bills, Inter-corporate Deposits,
 advance against shares and debentures etc.  The Company also arranges
 ICDs for its corporate clients and thus has developed non-fund
 based activities.  The Company has number of corporate clients who
 avail the services of the Company on a regular basis.
 
 5. Investment & Portfolio Management
 
 AFIL is investing its funds in debt and equity instruments after
 detailed appraisal.  It has also has its own Equity Research
 Department where Scrips are identified for long term and short term
 investments.  All the investments are being scrutinised periodically
 for taking sell/buy/hold decision.  At present the Company has total
 portfolio of
 Rs.  360.35 lacs at market value as on July 31, 1994.
 
 6. OTCEI Operations
 
 AFIL has been registered as a DEALER on the OTC Exchange of India wef
 December 18, 1991 and has since been an active player at the Exchange.
  The OTC Exchange of India has great potential to be a Prime centre
 for trading activities in shares and debentures.  OTC has recently
 included 60 scrips which are actively traded on Bombay Stock Exchange
 as Permitted Securities to be traded on its counter, and in future,
 more scrips are likely to be added.
 
 The Company has been acting as a voluntary market maker for various
 scrips and has also been involved in bought deals of OTC Issues. 
 
 
 2009
 
 - Apollo Finvest India Ltd has appointed Shri. Sandeep Maheshwari as
 an Additional Director w.e.f. July 22, 2009.
 
 2011
 
 - Shri. Sajjan Kanodia and Smt. Hemlata Poddar have been appointed as
 additional directors of the Company.  
 
 
 
Source : Dion Global Solutions Limited
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