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The Investment Trust of India Ltd.

BSE: 530023 | NSE: THEINVEST |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE924D01017 | SECTOR: Finance - General

BSE Live

Sep 24, 16:00
112.30 -0.95 (-0.84%)
Volume
AVERAGE VOLUME
5-Day
2,539
10-Day
3,162
30-Day
37,380
1,758
  • Prev. Close

    113.25

  • Open Price

    116.85

  • Bid Price (Qty.)

    110.50 (50)

  • Offer Price (Qty.)

    112.30 (196)

NSE Live

Sep 24, 15:57
111.25 -2.25 (-1.98%)
Volume
AVERAGE VOLUME
5-Day
9,928
10-Day
12,411
30-Day
51,900
17,794
  • Prev. Close

    113.50

  • Open Price

    115.00

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

Company History - The Investment Trust of India
FORTUNE FINANCIAL SERVICES (INDIA) PVT LTD was incorporated on 14th
 June, 1991 as a Private Limited Company at Bombay, with its
 Registered Office at K.K. Chambers, (Navsari Chambers), 2nd Floor,
 Sir. P.T. Marg, Fort, Bombay-400 001 and was subsequently converted
 into a Public Limited Company by passing a Special Resolution in AGM
 held on 8.8.94 and obtained a fresh Certificate of change of name on
 20.10.94 from Registrar of Companies, Bombay on conversion.
 
 PRESENT ACTIVITIES OF THE COMPANY
 
 Fortune has been set up as a financial services Company engaged in
 diverse fields such as Merchant Banking, Placements with Non Resident
 Indians/Foreign Institutional Investors/Financial Institutions/Mutual
 Funds, Corporate Finance, Money Market Operations, Loan Syndication,
 Placement of Commercial Paper, Capital Market Operations, Project
 Counselling, and Corporate Advisory Services.
 
 a)	MERCHANT BANKING:
 
 Fortune was accredited as a Category I Merchant Banker by the
 Securities and Exchange Board of India (SEBI) in April 1993. The
 Company has since commenced full fledged Merchant Banking activities
 and in a short span the Company has successfully handled 15
 public/rights issues as Lead Managers Co-Manager and Advisors as the
 case may be mobilising in aggregate capital of Rs.142 crores.
 
 The Issues handled by Fortune to name a few are : Pan Electronics
 Ltd, Pidilite Industries Ltd, United Phosphorus Ltd, Marg Securities
 Ltd, Moira Re-rolling Mills Ltd, Maximaa Systems Ltd, Vishal Chairs
 Ltd, Trident Steels Ltd, Spearhead Metal & Alloys Ltd, Vijay Growth
 Financial Services Ltd, Vamotivala Chemical Industries Ltd, Keystone
 Industries Ltd, Salguti Plastics Ltd, Enarai Finance Ltd, and Unified
 Agro Industries (India) Ltd.
 
 Fortune was involved in handling four issues for mobilising funds
 aggregating Rs.1,153 lakhs in the capacity of pre-issue Lead Manager.
  Further it was associated in four issues as post issue lead manager
 wherein the total funds mobilised were Rs.1,198.98 lakhs. In the
 capacity of Co-managers/Advisors it was involved in seven issues
 which mobilised Rs.11,828.6O lakhs. This far, only one issue managed
 by Fortune aggregating Rs.284 lakhs was not fully subscribed thereby
 resulting in a devolvement on underwriters.
 
 Fortune has recognised the liberalised economic policy of the
 Government and the opening of investment opportunities to the
 Non-Resident Indians. In order to channelise the Non-Resident Indian
 Investment into the country it has established extensive marketing
 network through its associates in U.A.E, Europe and U.S.A through
 high networth investors and clients. This facilitates marketing of
 issues approaching the capital market in India with NRI Reservations.
 The Company specializes in placement of shares to NRI's thereby
 offering the Non-residents
 an opportunity to invest in the country. 
 
 Fortune has in addition several mandates in hand and the Companies
 are slated to tap the capital market in the coming months. The
 Company is well placed to offer a complete package in issue
 management including capital structuring and instrument designing and
 marketing of issues to local and NRI clients. In addition to issue
 management the Company also acts as underwriter to various
 Public/Rights issues. The Company has so
 far underwritten 85 Issues aggregating Rs.23 crores. 
 
 b)	MONEY MARKET OPERATIONS:
 
 Money market operations include within its purview direct funding for
 intercorporate deposit requirements, discounting of bills (both clean
 or L/C) and intermediation for such requirements of the corporates.
 Further placement of commercial paper is also included within its
 fold. The following are a few of the prestigious clients of the
 Company:
 
 McDowell & Co Ltd.	      Transelectra Domestic Products Ltd.
 
 Western India Group	      Herbertsons Ltd.
 
 Mirc Electronics Ltd.	   Pidilite Industries Ltd.
 
 United Phosphorous Ltd.	   United Breweries Ltd.
 
 REPL Engeering Ltd.	       Alok Textiles Ltd.
 
 Blue Blends (I) Ltd.	   Electrex (India) Ltd.
 
 Fortune, since its inception has been actively involved in Money
 Market Operation and Corporate Finance activities by bridging the
 demand and supply gap of funds for its corporate clients.
 
 Fortune's presence in this field is visible by the increase in the
 funds syndicated by it since 1991-92. In the first six months of
 operations the total amount mobilised was Rs.8 Crores thereafter
 growing to Rs.20 Crores in 1992-93 and to Rs.80 crores in 1993-94.
 
 c)	LEASING & HIRE PURCHASE
 
 The Company's lease and Hire Purchase portfolio at present is Rs.210
 lakhs. At present the Company is concentrating on its existing
 clientele from its Merchant Banking and Money market departments, to
 tap this market.
 
 The Company provides Lease and Hire Purchase finance for the
 acquisition of plant & machinery, equipments, vehicles, computers and
 consumer durables. The tenure and structure are tailor made to suit
 the client requirements.
 
 d)	INVESTMENTS
 
 The Company undertakes investment in shares of fundamentally sound
 companies after thorough evaluation of the performance of the
 Company.  The basic guiding factor in all such decisions is to
 enhance returns by managing risks. Some of the criteria taken into
 consideration while making investment decision are:
 
 1. Company analysis including leverage, margins, EPS, etc.
 
 2.	Industry/Company sensitivity to market factors.
 
 3.	Historical price movement of the particular scrip.
 
 4.	Market capitalisation vis-a-vis similar companies.
 
 5.	Market information.
 
 6.	Liquidity of the scrip.
 
 a)	EQUITY RESEARCH
 
 At present the equity research team carries on industry reviews and
 research activities on individual companies which are made available
 to its clients in the form of a monthly newsletter titled FORTUNE
 NEWS CAP. FORTUNE NEWS CAP contains information on latest
 developments in the capital market and also detailed analysis of
 equity offers that are being made to the public.
 
 2002
 
 -Muthiah Ganapathy appointed as Company Secretary of Fortune
 Financial Services.
 
 2006
 
 -Fortune Financial Services (India) Ltd has given the Bonus in the
 Ratio of 1:1
 
 2009
 
 - Fortune Financial Services India Ltd has appointed Mr. Sanjay
 Kothari as an Additional Director w.e.f. September 25, 2009, through
 a Board Resolution passed by circulation.
 
 
 2010
 
 - The appointment of Mr. Devesh Kumar as the Joint Managing Director
 and Group CEO.
 
 
 2012
 
 - A new subsidiary Company viz. Fortune Integrated Home Finance
 Limited has been incorporated to carry on the business of Home
 Loans.
 
 - Mr. Chintan Valia has been appointed as an Additional Director of
 the Company.
 
 - a new subsidiary company viz. Fortune Integrated Assets Finance
 Limited has been incorporated to carry on the business of Vehicle &
 other assets Loans.
 
 2013
 
 -Its subsidiary entered into Memorandum of Understanding for
 acquisition of 100% stake of Antique Stock Broking Limited.
 
 2014
 
 -An agreement has been entered in to between Fortune Credit Capital
 Ltd and M/s. Fortune Integrated Assets Finance Ltd (subsidiaries of
 the Company) on September 29, 2014 for transfer of Vehicle Finance
 business by Fortune Credit Capital Ltd to M/s. Fortune Integrated
 Assets Finance Ltd on the terms and conditions as mutually agreed
 between the subsidiaries.