Pioneer Investcorp Ltd Company Summary

Pioneer Investcorp Ltd Summary

Pioneer Investcorp Ltd is a Sebi Registered Category I Merchant Banker. The Company incorporated in January, 1984 was promoted by M M Gandhi and G M Gandhi. The Bombay-based Pioneer Investcorp established itself as a niche player in financial services with a presence in a gamut of financial products in both fee and fund-based activities. It renders a range of financial services to a well-diversified corporate clientele. The Company has been engaged in the business of Investment Banking by rendering project and financial advisory services, including private placement of Equities and Bonds, Term Loan / Debt Syndication, Project finance /GDRs /FCCB to their various corporate clients and industrial houses in their development projects. It further include formation of capital structure, raising capital, debt restructuring, project financing and other corporate advisory servicesPioneers investment banking operations include both primary and secondary market operations and are supported by a well-equipped in-house equity research division. Its merchant banking activities includes corporate advisory services on capital structuring of both equity and debt and issue management (which includes pre-issue management, private placement of securities and underwriting). A SEBI-authorised merchant banker, Pioneer has already established itself in issue management.It went public in Apr.95 to strengthen and consolidate its capital base and augment long-term resources.Pioneer plans to further expand its operations to tap its non-resident clientele and act as a link in providing a wide range of services in both the primary and secondary segments of the capital market. In this regard, its in-house research division will provide the necessary support in terms of qualitative and quantitative industry information. The company has two subsidiaries-Pioneer Credit Limited and Pioneer Intermediaries Limited.During the financial year 1995-96 the company was assigned an A-(A-minus) rating by CARE(Credit Analysis and Research Limited) which is classified as an upper medium grade investment and is two grades higher than the minimum prescribed by the Reserve Bank of India.In January 2004, the wholly owned subsidiary, Pioneer Credit Ltd. (PCL) was amalgamated with the Company, and the Scheme of Amalgamation became effective on 7th October, 2004. The Company commenced trading business in Government Securities to take advantage of active markets in the area of debt syndication and allied services to corporate sector in 2005. In 2006-07, the Company acquired 51% Share Capital of lnfinity.com Financial Securities Ltd., an existing member of NSE and BSE, with operations in all segments of the Equity and Securities businesses of both Exchanges. It acquired 100% Share Capital of Pioneer Commodity Intermediaries Private Ltd., in 2007. It also incorporated 3 Wholly Owned Subsidiary companies, Pioneer Wealth Management Services Ltd., Pioneer Money Management Ltd. and Pioneer Investment Advisory Services Ltd. After the year end 2006-07, the Company incorporated 2 overseas Wholly Owned Subsidiary Companies in Dubai and in Mauritius, Pioneer Investcorp International Ltd. and PINC Fund Advisors LLC, respectively.The Company embarked on an expansion road map of Merchant Banking and Investment Banking businesses through acquisitions of existing companies which had existing operations and memberships of various Stock Exchanges in Equity and Commodity markets. It floated new Subsidiaries to offer other financial services like Portfolio Management Services and Investment Advisory Services.The Company acquired balance 49% Share Capital of lnfinity.com Financial Securities Limited, thus making it a 100% Subsidiary of the Company with operations in all segments of Equity and Securities business, and it also acquired entire Share Capital of Marine Drive Investments and Trading Company Private Limited, a non operating existing Non-Banking Finance Company registered with Reserve Bank of India in 2007-08.In 2008, Pioneer Tradestock Pvt. Ltd. (PTPL) was merged with the Company and Scheme of Amalgamation became operative from 1st April 2007. In terms of said Scheme, 10,86,333 equity shares of Rs.10/- each of the Company were issued to erstwhile shareholders of PTPL in ratio of 1 fully paid equity shares of Rs.10/-each of Company for 12 fully paid up equity shares of Rs.10/-each held in PTPL in May, 2008. During the Financial Year 2022-23, Pioneer Wealth Management Services Ltd. a wholly owned subsidiary holding Portfolio Management Registration with SEBI, has also registered itself with Sebi as Research Analyst (RA) and as Investment Advisor (IA) to venture into both online and offline retail business.