Company History - HB Leasing and Finance Company
1982 - The Company was incorporated on 30th March, and the
of commencement of business was obtained on 26th June, 1983.
- The main object of the company is to provide Integrated
Services such as Lease Financing, Hire Purchase Financing,
Venture Capital Financing and Portfolio Investment.
- 70 No. of equity shares subscribed for by the signatories to
memorandum and 2,09,930 shares allotted to promoters,
their friends etc. In Feb. 1984, 14,40,000 share issued of
4,40,000 shares reserved for allotment to promoters,
etc. and 5,50,000 shares reserved for preferential allotment
Non-Residents of Indian origin/nationality on
basis. The balance 4,50,000 shares offered to the public
subcription through a prospectus.
1985 - The Company issued 16,50,000 No. of equity shares of Rs 10
at par linked with 3,30,000-15% secured non-convertible
debentures of Rs 100 each on a rights basis and 82,500 No. of
equity shares to the employees including working directors.
- Allotments were made in respect of 13,86,550 No. of equity
(including 82,500 shares to the employees) and 2,60,810
debentures. Efforts were being made to dispose of the
unsubscribed portion through private placement.
- The debentures are redeemable in four equal annual instalments
Rs 25 each commencing from 24.04.1993. The debentureholders
given three option (i) redemption of NCDs in one full
(ii) Exchange of NCDs with zero interest fully convertible
debentures, (iii) Retain the NCDs on Original term of issue.
1987 - Newer leasing areas entered into by the Company were leasing
contract for imported equipments, vendor leasing hire
financing, and hi-tech industry.
1989 - The company entered into institutional financing of consumer
durables. The performance of the operational lease division
adversely affected due to detention of its vehicles at
loading and unloading points.
1990 - 2,25,000 shares allotted from unsubscribed portion of Rights
issue made in 1985/86.
1992 - During December, the Company simultaneously offered right and
public issue of 6,52,296 and 16,47,704 zero interest fully
convertible debentures of Rs 100 each respectively for cash
par. Right issue was offered to the existing shareholders in
ratio of 1 debenture : 5 Equity shares (All were taken up).
- Out of the public issue, 1,60,000 debentures were offered to
equity shareholders of HB Portfolio Leasing Ltd. (All were
up. Allowed to lapse). 14,85,856 debentures were offered to
public (All were taken up).
- Part `A' of Rs 25 was to be converted into one equity share of
10 each at a premium of Rs 15 per share at the end of six
from the date of allotment. Part `B' of Rs 75 was to be
converted into two equity share of Rs 10 each at a premium of
27.50 per share at the end of 12 months from the date of
1993 - 68,94,456 No. of Equity shares allotted on conversion of part
and B of Zero Interest returned fully convertible debentures.
1994 - 9,06,795 No. of Equity shares allotted on conversion of part
and `B' of Zero Interest Secured fully convertible
-The Company has appointed Mr. Anil Goyal as Managing Director.
-The Company designated E-mail ID for the purpose of grievance
redressal of Investors: email@example.com.