|IFB Securities Ltd. was incorporated as a Public Limited Company on 26the November, 1991 and had received Certificate of Commencement of Business on the 16the January, 1992.
The Company is presently engaged in the business of investment and financial services related activities. Since its inception, the Company has been operating in the capital market. Based on its in house research activities and access to market information, the Company has been assisting the group companies in identifying various investment options and the different routes available for raising resources; however, the actual deployment of funds have been carried out by the respective
In order to meet the broking requirements of individual investors, in June 1993, the Company opened a retail outlet in Calcutta under the name and style 'Share & Share'. Since then, the Company has opened few more such outlets.
In July, 1993, the Company in association with Shri Ajit Day. Member and Ex-President of Calcutta Stock Exchange, promoted CPL Securities Pvt.Ltd. with a 50% stake in the equity capital. CPL Securities Pvt.Ltd. has since been admitted as a Corporate Member Broker of the Calcutta Stock Exchange.
lFB Securities has received permission from the Govt. of India and the Reserve Bank of India to acquire 65% stake in the equity of Cantor Capital Corp. (hereinafter referred to as ' Canto '), a U.S. Broker Dealer firm of repute. The reference number and date of the above mentioned Govt. of India and RBl permissions are as under:
Reference Number Date
Govt. approval: 1/11 7/93-EP(01) 03.02.94
RBI Approval: CA.EC.279/1 0.01.0092/9394 28.02.94
Cantor is presently engaged in a wide range of financial services including portfolio management and broking activities. Cantor is registered with,the Securities & Exchange Commission (SEC), USA and the Municipal Securities Rule Making Board, USA and is a Member-Broker of the National Association of Securities Dealers Quote-Driven (NASDAO). Cantor has also received registration from SEBI for operating as a foreign broker (SEBI Registration No. IN USA 01-4-94 dated 18.02.94). With this strategic alliance, lFB Securities expects to capitalize on the increasing interest of foreign investors in Indian securities with Cantor offering broking services to FlIs, especially those based in USA. With a Wall Street location in New York, Cantor will also help in channelising the resources of the NRl investors based in North America. Further, the lFB-Cantor tie up will help Indian corporate in marketing their Euro issues in the overseas market.
lFB Securities is now entering the high-growth, high-value debt market and has obtained trading membership of the Wholesale Debt Market segment of the NSE (NSE Registration No. 06006). The membership is effective from 02.05.94 and is renewable every year on payment of the requisite annual fee.
The Company has also applied to SEBI for necessary permissions to undertake portfolio management, investment advisory services and other management consultancy services.
-Company name has been changed from IFB Securities Ltd to Siddha Ventures Ltd
- Siddha Ventures Ltd has informed that the Board of Directors of the Company at its meeting held on July 29, 2009, inter alia, has appointed Mr. Sanjay Jain as additional director of the Company w.e.f. July 29, 2009.