1993 - The Company was incorporated as a Private Ltd., Company on June
16, and was converted into a Public Ltd., Company on November 5,
1993. It was promoted by H.R. Hemnani & Associates. The Company
Functions as Merchant Banker and carrier on activities on issue
management and underwriting, leasing hire purchase.
1994 - The Company is engaged in various activities like merchant
banking, leasing, corporate counselling and other capital market
operations. The Company lead managed 43 public issues and
extended underwriting support in 214 public issues.
1995 - Effective from 25th May, permission was obtained from SEBI for
undertaking portfolio management activities.
1996 - The Company launched its Fixed Deposit Scheme (Cumulative and
Non-cumulative). Company was severely affected due to slack
economic growth process, listless primary market and unstable
- The Object of the issue: (i) To expand its lease/hire purchase
activities (ii) To fund its primary and secondary market
operation (iii) Create adequate fund for its capital market
- 30,03,200 Rights equity shares issued (Prem. Rs 50; prop. 1:1)
1,95,083 shares remained unissued. 60,00,000 No. of equity
shares were then issued at a premium of Rs 50 per share though
prospectus of which 4,00,000 shares reserved for allotment on a
firm basis to CRB Mutual Fund. Of the balance, the following
were issued on preferential basis:
- (i) 10,00,000 shares to NRIs/UCBs/FIIs (only 55,000 shares taken up).
- (ii) 3,00,000 shares to Development Financial Institutions/Banks (only 10,000
shares taken up)
- (iii) 4,00,000 shares to Indian Mutual Funds (none were taken up)
- (iv) 8,000 shares to employees (only 200 shares taken up) Remaining 42,52,000
shares along with unsubscribed portion of 12,42,800 share from preferential quota
was issue to the public (all were taken up) Till date 54,63,100
2000 - Keynote Corporate Counsels Ltd. has launched new website, nribanks.com
for providing the much-needed bridge between non-resident Indian and banks
-SEBI has suspended the certificate of registration of Keynote Corporate Services Ltd. for two months for irregularities in the public issue of Maha Cemicals.