Nicco Uco Alliance Credit Ltd Company Summary

Nicco Uco Alliance Credit Ltd Summary

Incorporated on June 18, 1984, Nicco Uco Alliance Credit Ltd. , earlier known as Nicco Uco Financial Services Ltd is a Small Cap company (having a market cap of Rs 2.41 Crore) operating in Financial Services sector. The Company is engaged in financial services. In 1993, Sanpaolo Hambro Nicco Finance Ltd. was merged with Nicco Uco Financial Services Ltd. effective 1st July, 1993. This was the the first finance company to have participation of three prestigious foreign institutions -- International Finance Corporation, Washington; Sanpaolo Bank, Italy; and Hambos Bank, UK; -- along with the Uco Bank as its shareholders. The merger has augmented the Companys resources and ushered in economies of scale in terms of managerial costs and infrastructure.In 1995-96, company issued rights shares in the ratio of 1:1 to eligible shareholders. In 1995 the company merged with Nicco Investments for further expansion and growth of business. In 1999, Overseas Sanmar Financial Limited was amalgamated with the Company through the Scheme of Amalgamation and as per the said Scheme, one share of Nicco Uco Alliance Credit Limited was allotted for one share of Overseas Sanmar Financial Limited.