TCI Finance Ltd Company Summary

TCI Finance Ltd Summary

TCI Finance Ltd, promoted by the TCI Group is a Non-Banking Finance Company (NBFC) registered with the Reserve Bank of India (RBI). The Company was incorporated in the year 1973. The Company is presently engaged in the business of various financial services.The company was promoted by Mr. Mahendra Agarwal. The Company has one subsidiary M/s ITAG Business Solutions Ltd which is engaged in the business of knowledge Process Outsourcing in the domain of Intellectual Property Services.The company came out with a rights-cum-public issue in Apr.95, aggregating Rs 25.5 cr. The rights issue was fully subscribed. However, the public issue was under-subscribed. The company has asked the underwriters to honour their underwriting commitments. The adverse market condition was the key factor in the issue not being fully subscribed to.On 8 Jul.94, the company issued 2.5 lac warrants to the promoter group with an option to apply within 18 months for one equity share against each warrant at a price of Rs 25 per share. In 1995-96, the company incorporated TCI Securities, a wholly-owned subsidiary. This has received a membership from Bangalore Stock Exchange. The subsidiary companys main activity will be Stock Broking, dealing in shares and securities and other capital market instruments, apart from the underwriting and marketing of new issues. During 1996-97, ICRA reaffirmed the rating of MA signifying adequate security and timely repayment,The total fixed deposits during the year 2001 amounted to Rs.106 lakhs as against the previous year of Rs.376 lakhs.