Vishwamitra Financial Services Ltd Company Summary

Vishwamitra Financial Services Ltd Summary

Incorporated on 6 Nov.85, Blue Blends Finance was promoted by Blue Blends, the flagship of the Arya group.The company has been active in the placement of inter-corporate deposits and also direct lending. It diversified into other financial services like lease and hire purchase for corporate clients, bill discounting, issue management and other merchant banking activities.In 1995-96 the Merchant Banking Department of the Company Lead Managed 7 issues (including 2 Rights Issues), Co Managed 1 Issue and extended underwriting assistance to the tune of Rs. 2.25 Crores with no devolvement. During the same year the Company also started Portfolio Management and Sub Broking activities.The company is a SEBI registered Merchant Banker & is also continuing its sub-broking activities in shares and stock. The company has decided not to renew/seek its Merchant Banking registeration with SEBI till there is a turnaround in the prospects of Primary Market.