Company History - Siddha Ventures
IFB Securities Ltd. was incorporated as a Public Limited Company on
26the November, 1991 and had received Certificate of Commencement of
Business on the 16the January, 1992.
The Company is presently engaged in the business of investment and
financial services related activities. Since its inception, the
Company has been operating in the capital market. Based on its in
house research activities and access to market information, the
Company has been assisting the group companies in identifying various
investment options and the different routes available for raising
resources; however, the actual deployment of funds have been carried
out by the respective
In order to meet the broking requirements of individual investors, in
June 1993, the Company opened a retail outlet in Calcutta under the
name and style Share & Share. Since then, the Company has opened few
more such outlets.
In July, 1993, the Company in association with Shri Ajit Day. Member
and Ex-President of Calcutta Stock Exchange, promoted CPL Securities
Pvt.Ltd. with a 50% stake in the equity capital. CPL Securities
Pvt.Ltd. has since been admitted as a Corporate Member Broker of the
Calcutta Stock Exchange.
lFB Securities has received permission from the Govt. of India and
the Reserve Bank of India to acquire 65% stake in the equity of
Cantor Capital Corp. (hereinafter referred to as Canto ), a U.S.
Broker Dealer firm of repute. The reference number and date of the
above mentioned Govt. of India and RBl permissions are as under:
Reference Number Date
Govt. approval: 1/11 7/93-EP(01) 03.02.94
RBI Approval: CA.EC.279/1 0.01.0092/9394 28.02.94
Cantor is presently engaged in a wide range of financial services
including portfolio management and broking activities. Cantor is
registered with,the Securities & Exchange Commission (SEC), USA and
the Municipal Securities Rule Making Board, USA and is a
Member-Broker of the National Association of Securities Dealers
Quote-Driven (NASDAO). Cantor has also received registration from
SEBI for operating as a foreign broker (SEBI Registration No. IN USA
01-4-94 dated 18.02.94). With this strategic alliance, lFB Securities
expects to capitalize on the increasing interest of foreign investors
in Indian securities with Cantor offering broking services to FlIs,
especially those based in USA. With a Wall Street location in New
York, Cantor will also help in channelising the resources of the NRl
investors based in North America. Further, the lFB-Cantor tie up will
help Indian corporate in marketing their Euro issues in the overseas
lFB Securities is now entering the high-growth, high-value debt
market and has obtained trading membership of the Wholesale Debt
Market segment of the NSE (NSE Registration No. 06006). The
membership is effective from 02.05.94 and is renewable every year on
payment of the requisite annual fee.
The Company has also applied to SEBI for necessary permissions to
undertake portfolio management, investment advisory services and
other management consultancy services.
-Company name has been changed from IFB Securities Ltd to Siddha
- Siddha Ventures Ltd has informed that the Board of Directors of the
Company at its meeting held on July 29, 2009, inter alia, has
appointed Mr. Sanjay Jain as additional director of the Company
w.e.f. July 29, 2009.