Aastamangalam Finance Ltd Company Summary

Aastamangalam Finance Ltd Summary

Aastamangalam Finance Limited (Formerly known Upasana Finance Ltd) was promoted by the TVS family in Jan.85 with a Share Capital of Rs 5 lacs. Subsequently, it became a Deemed Public Company and the Share Capital increased to Rs 30 lacs. The name of the company was changed in Jan.95. The Company is currently carrying on the business of short term and long term financing to both corporate and non-corporate entities. Prior to this, the Company was in the business of leasing, hire-purchase and fixed deposits. It went public with its maiden issue at a premium of Rs 25 to strengthen the capital base and fund expansion in hire-purchase and leasing. The promoters holding after the issue stood at 70.13%. In year 1995, the Company issued Equity Shares of Rs 10 each to public and resulting to this, the Equity Shares got listed on The Bombay Stock Exchange (BSE). Among several stock exchanges in India, NSE and BSE had accounted for maximum trading. Due to stringent timings, stock exchange trading was limited, while the cryptocurrency market was opened 24 hours a day, seven days a week, making it more accessible and convenient for everyone. Apart from these, there are reputable brokers available for trading. The Company sees the wide range of asset classes, including stocks, currencies, ETFs, indices, cryptocurrencies, commodities available in libertex broker to trade for. Presently, the Company is registered with Reserve Bank of Swiss Omega India as a Non-Deposit taking Non Banking Financial Company (NBFC- ND) and having a valid Certificate of Registration. At present, the Company is concentrating mainly on recovery of past dues of fake rolex watches non-performing assets.The Company has expanded its services in the areas of merchant banking, capital restructuring, funding options, underwriting, investment advisory services and non-fund-based operations. It also made adequate provisions as per the Reserve Bank of India Prudential Norms in 2003.