SG Finserve Ltd Company Summary

SG Finserve Ltd Summary

SG Finserve Limited was formerly incorporated as Moongipa Securities Limited on March 18, 1994. The name of the Company was then changed from Moongipa Securities Limited to SG Finserve Limited on November 16, 2022. The Company provides supply chain financing solutions for Indian conglomerates down to the lowest tier. Through a seamless tech platform solution, it focuses in offering finance solutions to dealers, distributors, vendors, retailers, logistics providers, etc. SGFL is accredited with CRISIL AA rating for its long-term debt and an A1+ for its short-term debt & commercial paper, making it a strong and reliable financial institution.In FY 2015, the Company received confirmation for direct listing of equity shares at Bombay Stock Exchange Limited effective from July 8, 2015. In 2019-20, the Company received a licensed from Reserve Bank of India dated 16 May 2018 for doing a Non-Banking Financial Activity. On July 25, 2022, the Board of the Company has affected the change in control and management in the Company, by appointing the Mr. Rahul Gupta and Mr. Rohan Gupta as the Directors of the Company and the acquisition of 56.25% Equity Shares as contemplated under the SPA was also completed, and pursuant to the same Mr. Rahul Gupta and Mr. Rohan Gupta became the new promoters in the Company and have acquired control over the affairs of the Company. Subsequent to the change in ownership, management and control of the Company, the Board of Directors has proposed change in Objects of the Company to carry on the business of lending, credit and leasing facility, which is subject to the approval of the Registrar of Companies, NCT of Delhi and Haryana and shareholders of the Company and any other authority as may be required. A resolution to this effect forms part of the notice of the ensuing AGM.The Company began lending operations in the Company effective on September 01, 2022. Subsequent to the change in ownership, management and control of the Company, the Board of Directors had proposed change in Objects of the Company to carry on the business of lending, credit and leasing facility besides the investment activities already being undertaken by the company, which was subject to the approval of the Registrar of Companies, NCT of Delhi and Haryana in 2023.