SMIFS Capital Markets Ltd Company Summary

SMIFS Capital Markets Ltd Summary

SMIFS Capital Markets Ltd was incorporated in July 2000. The Company is engaged mainly in merchant banking and trading in government securities and shares. Prior to this, the Company was registered with the Securities and Exchange Board of India (SEBI) as Category I Merchant Banker and Underwriter and undertook activities related to securities market. The Company executes assignments in areas of Mergers and Acquisitions, Debt Syndication and Placement of Equity Shares, Debt and Bonds.During 1994-95, the company placed 8.5 lac shares on private placement at a premium of Rs 285 and 11 lac shares at a premium of Rs 165.The company intends to concentrate on enlarging its investor base and expanding its market network. It has set up offices at Bangalore and Madras and intends to capitalise on its all-India reach to build up an effective distribution network for all its primary market products.The company plans to consolidate and upgrade its existing fund and non-fund based activities in the areas of merchant banking, marketing of financial products, lease and hire purchase finance. It also plans to enter into other business lines like venture capital financing, housing finance, etc, which have immense scope and profit potential and will enable it to provide a complete spectrum of financial services. During 2001-02, the Company was appointed Managers to four open offers under the SEBI Takeover Code. Further, the Company was also appointed Manager to one buy back offer made under the SEBI Buy Back Regulations.As on 31.03.2002, the Company had two wholly owned subsidiaries, SMIFS Capital Services Limited and Rixebe Estates and Investments Ltd. During the year 2002, the entire shareholding of SMIFS Venture Capital Ltd. was divested and the Company ceased to be a subsidiary. Rexebe Estates &Investments Limited became a wholly owned subsidiary Company with effect from 20.6.2002. In March, 2006 Salveo Life Sciences Limited, which became a subsidiary effective from 03.01.2006 has ceased to be a subsidiary of the Company effective from February 21, 2007.