1983 - The company was incorporated on 4th July, as a Public Limited
Company under the name and style of 'Pressman Consultants Ltd.'
and obtained the certificate of commencement of Business on 29th
July. It was promoted by the Suchanti family who were also the
promoters of Pressman Advertising & Marketing Pvt. Ltd.
- The Company is engaged in leasing of equipment, hire-purchase
business, purchasing, selling, hiring or letting on hire all
kinds of plant and machinery and equipment.
1985 - The Company undertook to set up a plastics division for the
manufacture of various types of PVC and plastic containers.
Land was acquired at Khopoli in Maharashtra and machinery
pertaining to the project was imported from Balleufeld Fisher
Blasformtechnik GmbH, West Germany.
- The company proposed to manufacture PVC stretch mould containers.
- The objects of the public issue of equity capital during April,
was to augment the resources of the Company to keep pace with the
anticipated growth in business and to get the Company's equity
shares listed on the Stock Exchange.
- 15,00,000 No. of Equity shares offered at par for public
subscription during April.
1986 - The Company proposed to diversify into the area of mutual funds.
- In February, the Company issued 3,93,750-13.5% secured
convertible debentures (I-Series) of Rs 120 each aggregating Rs
472.50 lakhs. Of these, 3,75,000 debentures were offered as
rights to equity shareholders in the ratio 15:100, fractions,
being ignored (only 3,33,337 debentures taken up). The
unsubscribed portion was allotted on private placement basis.
- The remaining 18,750 debentures were reserved for allotment to
employees of the Company on equitable basis but none were taken
up. All these 18,750 debentures were allowed to lapse.
- Rs 20 of the face value of each debentures was converted into 2
equity shares at par on the expiry of 6 months from the date of
issue. Accordingly, 6,66,674 No. of equity shares were allotted
during June. The remaining Rs 100 of each debenture will be
redeemed in full at par by drawing lots on the expiry of the 7th,
8th and 9th year from the date of allotment.
1989 - With effect from 1st April, Pressman Mutual Funds Ltd., was
amalgamated with the Company. As per the Scheme of Amalgamated
3,43,326 No. of equity shares of Rs 10 each were allotted to the
shareholders of Pressman Mutual Funds Ltd., without payment in
cash in the proportion of 6 shares of Pressman Leasing, Ltd., for
every 10 shares held in of Pressman Mutual Funds Ltd.
1991 - With a view to strengthening the foundation of the Company, the
Company proposed to made judicious investments in stocks of
1992 - The Company has received 'Category I Merchant Banker'
authorisation from SEBI.
- The company's name was changed from 'Pressman Leasings Ltd.' to
1993 - During June, the company issued 17,55,000 Rights equity shares of
Rs 10 each for cash at a premium of Rs 10 per share in the ratio
- Simultaneous to the Rights issue, the Company issued through a
Prospectus 35,97,750 No. of equity shares of Rs 10 each for cash
at premium of Rs 10 per share of which the following were
reserved for allotment on a preferential basis: (i) 10,400 shares
to employees and (ii) 5,00,000 shares to NRIs on non-repatriation
- Balance 30,87,350 shares, along with unsubscribed portion, if
any, from employees and NRIs quota, were offered to the public in
- 53,52,750 No. of Equity shares of Rs 10 each at a premium of Rs
10 per share allotted through Right-Cum-Public Issue.
1994 - The Company has promoted 'Corporate Management Services &
Research Ltd. jointly with IIT, Kharagpur.
- Dubreuil Pressman Ltd. was jointly promoted by the Company and
Dub Olastique Group of France.
1995 - 22,15,700 No. of Equity shares of Rs 10 each at a premium of Rs
40 per share allotted through rights issue and 22,096,000 No. of
equity shares of Rs 10 each at a premium of Rs 45 per share
allotted through public issue.
2001 - Mr Ravi rajagopa, Vice-President and Company Secretary, has resigned effective
from 16th February.
2002-Nucent Finance Ltd has informed that the Board of Directors Dr. Niren Suchanti, Chairman & Managing Director and Mr V K Goenka, Director have resigned from the Board and their resignation have been accepted. Mr. Peter S. Coelho, Director has been appointed as Manager of the company.
2003- Nucent Finance fixes Book closure for reduction of capital
-Taken on record the Order of Hon'ble Calcutta High Court confirming the reduction of capital.
-The trading in 14% Non Convertible Debentures -2004 Series U2 of Nucent Finance Limited will be suspended w.e.f December 18, 2003.