|Incorporated on 22.10.91 under the name and style BRESCON CONSULTANCY SERVICES PRIVATE LIMITED. Its name was changed to BRESCON MEDIA AND FINANCE PRIVATE LIMITED on 21.01.92. The Company was converted into a Public Limited Company vide special resolution passed on 23.01.92 and change of name certificate issued by Registrar of Companies, Maharashtra on 29.01.92. The Company's name was again changed to BRESCON FINANCIAL SERVICES LIMITED on 18.5.93.
The company was incorporated with the main object of carrying on merchant banking and investment activities and providing Project advisory Services. The company has obtained SEBI authorisation on Category III Merchant Banker on 01/04/1993, and on Category I from 01/02/1994.
PRESENT BUSINESS OF THE COMPANY
The company is a Non-banking financial company and is governed by a Non-banking Financial Companies (Reserve Bank) Directives, 1977 issued by RBI. The genesis of the company emanates from being Practising Chartered Accountants since last one and a half decade and venturing
into Project Counselling, Tax Planning/Advisory Services, Capital Market Operations/Advices and Loan Syndication and recently into Merchant Banking Services. Now the Company provides all these integrated financial services, including lease finance, under one roof.
The company is authorised by SEBI to act as Category-I Merchant Banker, (earlier was functioning in the capacity of Cat.III Merchant Bankers since 1st April, 1993). The company presently functions through its two major divisions:
PROJECT ADVISORY SERVICES
The Scope of Project Advisory Services include :
preparation of DPR (Detailed Project Report) covering the Techno-Economic-Financial (Viability) Study of the Project and also tying up of Term/Working Capital Finance. Loan Syndication has, in fact been the company's major thrust area of operations since company's inception.
MERCHANT BANKING SERVICES
The Scope of Merchant Banking Division include Capital Structuring, Issue management, Preparation of Prospectus/Profile, Placement/Marketing the issue to FIIs/NRIs/MFs/IFIs/general public and other issue
formalities. Company also provides Underwriting support to public/rights issue. Arranging Bridge Finance against Public Issue/State Govt. Subsidy/other securities is also one of the functions that are handled under this division.
2001 - Brescon Share & Stock Brokers Pvt. Ltd. has proposed to acquire 9,21,000
(30.66 per cent) equity shares of the company at a price of Rs 8 per share.