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India Cements Capital Ltd. Company History and Annual Growth Details

1985 - The company was incorporated on 8th November, as a Public Limited Company
under the name Anura Finance Ltd, and obtained Certificate of Commencement of
Business on 14.03.1986.

- The Company had been promoted by Aruna Sugars & Enterprises Limited as
a subsidiary. The Company ceased to be the subsidiary by virtue of the amendment
to the Articles of Association by deleting Article 25 A by a special resolution at the
Annual General Meeting on 6.9.93.

- The Company is engaged in the business of leasing, hirepurchase, and financial
services. Financing of industrial equipments and machinery and financing of trucks in
the transport sector had been the main focus of the Company.

1990 - The company's name was changed to Aruna Sugars Finance Ltd with effect from
25th June.

- The Company has launched two schemes called 'Snehadhara' and 'Suvidhara' for
the benefit of the depositors.

1991 - 2,00,000 shares of Rs.10/- each, issued during the year are entitled for dividend
on a pro-rata basis.

1993 - The Company came out with a public issue of 18,75,000 equity shares of Rs. 10/-
each for cash at a premium of Rs.5/- per share aggregating to Rs.2,81,25,000/-.
The issue was oversubscribed by 2.25 times. The shares are presently listed on
Chennai, Mumbai and Ahmedabad Stock Exchanges.

- The Company has tied up with M/s. Mecklai & Mecklai, a leading Foreign
Exchange Brokers, to provide Forex Information and advisory services to our
varied clients.

1994 - CRISIL has awarded P1+ rating (highest rating) for the proposed Commercial
Paper programme of Rs.400 lakhs for your company..

- The Company launched a new scheme named 'SUVIDHARA', which is receiving
good response from the investing public.

- The company has granted OTC dealership at Chennai, Indian Renewable Energy
Development Agency (REDA) has approved your company as one of their
financial intermediaries.

1995 -The forex advisory division, set up by the company during the year, is having a
number of clients in its portfolio.

- A new company, Aruna Securities Limited, has been formed as a subsidiary with
a view to undertake capital market operations and allied activities.

- The Reserve Bank of India has issued guidelines to Non-Banking Finance Companies
on prudential norms for income recognition, accounting standards, asset classification,
provisioning for bad and doubtful debts, capital adequacy and concentration of credit and

- The Company made a Rights Issue of Fully Convertible Debentures of Rs.555 lakhs
during January '95 and the same was allotted on 1st March.

1996 - During the period 1996-97, the company's controling stake held by erstwhile promoters
have been acquired by ICL Financial Services Ltd and ICL Securities Ltd., the wholly
owned subsidiaries of the India Cements Ltd. on 07.02.1997. Subsequently, the name
of the company was changed from Aruna Sugars Finance Ltd to INDIA CEMENTS

- During the year the Equity Share Capital was enhanced to Rs. 739.81 lakhs on
conversion of Part B of Fully Convertible Debentures into Equity Shares on 1.3.96.

- During the year the Company has made a private placement of preference shares
for Rs.50.00 lakhs and also Non convertible Debentures aggregating to Rs.400.00 lakhs.

- CRISIL rating has been upgraded from FA + to FAA- indicating high safety for depositors'
funds. This is the 3rd consecutive upgradation in the rating.

- The Company's subsidiary Aruna Securities Ltd obtained NSE Membership in the capital
market segment during the year and commenced operations during October '95.

- Sri. R K Talwar has resigned as a Director and it is not proposed to fill the vacancy for the

1997 - During the year the name of the Company's Subsidiary was changed from

- Preferential allotment of 57,14,200 Equity Shares of Rs. 10/- each at a premium of
Rs.7.50 per share. As a result the Paid-up Equity Capital has gone up from
Rs. 7,39,81,000/- to Rs. 13,11,23,000/-

1998 - During the year under review, the Company could expand its fee based
activities viz., forex advisory services, full fledged money changing and
foreign exchange dealing operations managed by it.

1999 - The Company's fixed deposit programme has been given a rating of 'Ind A+
(FD)' by Duff & Phelps Credit Rating Agency.

2000 - The Company proposes to double its equity capital from Rs 13.37
crore to Rs 26.74 crore through the issue of additional


-India Cements Capital & Finance Ltd has decided to offer Equity Shares of Rs 8.335 million on preferential basis @Rs 12/- per share (Rs 10/- face value with Rs 2/- premium) to the promoters group Companies.


-Company name has been changed from India Cements Capital & Finance Ltd to India Cements Capital Ltd.
Oct 25, 12:00 am
Oct 25, 4:14 pm
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