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Sakthi Finance Ltd. Company History and Annual Growth Details

1955 - The Company was incorporated on 30th March, as Pollachi Credit
Society Pvt. Ltd., and was converted into a public limited
company on 27th July, 1967 under the present name. The Company,
a unit of Sakthi Group of Coimbatore, was promoted by Dr. N.
Mahalingam, an industrialist of Pollachi and managed by a board
of professionals.

- The Main objects of the Company is Hire purchase financing and

1984 - 7,50,000 shares were offered at par for public subscription
during September.

1986 - The Company opened eight more branch offices including one at
Mumbai and commissioned five safe vaults.

- The Company entered leasing business. Also, with the group
holding industrial licences and letter of intent for both
expansion and for new projects, the Company was assured of
adequate lease business.

- 5,00,000 No. of equity shares of Rs 10 each and 50,000-10%
cumulative convertible preference shares of Rs 100 each were
issued both at par as rights to equity shareholders in the prop.
1 equity : 2 equity and 1 Pref. : 20 equity (all were taken up).

- Another 25,000 No. of equity shares and 2,500-10% cumulative
convertible preference shares both at par were offered to
employees of the company (all were taken up).

1987 - During December 1987/January 1988, the Company offered 10,76,300
shares of Rs 10 each at par on rights basis as follows:

- (i) 7,62,500 shares to equity shareholders in proportion 1:2,

- (ii) 2,62,500 shares to cumulative convertible preference
shareholders in proportion 5 equity : 1 preference share and

- (iii) 51,300 shares to employees (including Indian working
directors) and workers of the Company on an equitable basis.
All, but 37,980 shares of the employees quota were taken up. The
unsubscribed portion of the employees quota was allowed to lapse.

1989 - 5,25,000 No. of Equity shares of Rs 10 each allotted on at par on
conversion of Pref. shares.

1991 - 5,25,000 No. of equity shares of Rs 10 each allotted at par on
conversion of Pref. shares.

1993 - 30,88,320 Rights Equity shares allotted at a premium of Rs 20
each. 5,00,000-10% pref. shares and 4,00,000-13.5% pref. shares

1995 - During October-November, the Company issued 37,05,984 No. of
equity shares of Rs 10 each at a prem. of Rs 20 per share on
Right basis in porportion 3:5. (37,44,681 shares taken up).

- The 5,00,000-10% redeemable preference shares are redeemable at
par within eighteen months from the date of allotment and the
4,00,000-13.5% preference shares are redeemable at par within six
months from the date of allotment.


-Board decides to issue 2,500,000 equity shares of Rs 10 each at par to Overseas Corporate Bodies (OCBs)


-The company has issued rights in the ratio of 1:2 at a premium of Rs.0/- Per Share.


- Sakthi Finance Ltd has informed that the Board of Directors of the Company at its meeting held on June 30, 2009, have appointed Mr. S Ragothaman as an Additional<BR>Director of the Company with effect from that date.
Oct 21, 12:00 am
Oct 21, 4:14 pm
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