Rockland Leasing is a SEBI-recognised category-I merchant banker. In 1994-95, it became a member of the National Stock Exchange of India in the capital market segment for which a new company -- Rockland Securities -- was formed.
In Oct.'91, the company came out with a rights issue to strengthen its capital base. The company proposes to set up an asset management company to float a mutual fund. SEBI approval is awaited. Its future plans include hiving off its housing finance business through another company, Madras Housing Finance.
During the year 1995-96 total income of the company amounted to Rs 8 Crores as against Rs. 6.16 Crores during the previous year. The company also expanded its lease finance operations by disbursing more funds during the same year.
During 1996-97, company has made successful private placement of secured non-convertible debentures of the face value of Rs. 1000/- and preferential issue of 20 lacs equity share of Rs. 10/- each at premium of Rs. 15/- per share. The company is also proposing to issue preference share of Rs. 10/- each. In view of continued profitability directors have recommended to the shareholders bonus issue in the ratio of 2:5 equity Share.