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Apollo Finvest (India) Ltd. Company History and Annual Growth Details

The company was originally incorporated on July 29, 1985 as a public limited company under the name of Appollo Mercantiles Limited and received the Certificate for Commencement of Business on December 10, 1985.

The Company was originally engaged in Trading and Agency business in "Telecom" and "Telecom related Products". The Company then diversified it's business by entering in the Financial Services. Subsequently, the name of the Company was changed to Apollo Finvest (India) Limited (AFIL) and a fresh Certificate of Incorporation dated May 12, 1992 was issued to this effect by the Registrar of Companies, Maharashtra.


The Company has changed it's Registered Office to its new premises at the following address:

3/3 A, Rahimloola House,
7, Homli Street, Fort, Bombay-400 001

The Company was initially engaged in the trading activity of telecom products and pipes. Subsequently, with the shifting of the Registered Office at the new premises at Fort, Bombay, the Company started operations for retail and corporate lending, Merchant Banking and Money Market related activities. Meanwhile, the Company had also acquired the dealership of OTC Exchange of India (OTCEI) wef December 18, 1991, and operations in this line started during the year 1992-93. Further, the Company also started investments and trading in shares in the secondary market in its own portfolio. The Company also got itself registered with SEBI as Category I Merchant Banker w e f December 16, 1993, and started underwriting of the various Issues in the primary market.

The Company is an existing profit making and dividend paying company, and its shares are already listed at Bombay, Ahmedabad and Jaipur Stock Exchanges.


The main object of the company as specified in the Memorandum and Articles of the Company are as follows Main Objects

1. "To carry on the business of dealers, general order suppliers, contractors, importers, exporters, merchants, stockists, buyers, sellers, growers, agents, brokers, commission agents and dealers in cotton, jute, tea, coffee, rubber, oil, grains, pulses, seeds, vegetable products, cotton goods, jute goods, textiles, garments, yarn,
synthetic goods, fibrous materials, mill stores, coal, chemicals, fertilizers, building materials, office appliances, domestic appliances furnitures, decorative items, gift items, steel utensils, plastic goods, rubber items, pulp, paper, engineering goods, electrical items,
electronics items and cast iron items."

1. A. To establish and carry on the business of merchant banking including Issue Management, Advisory Services and Portfolio Management Services and to promote, establish, finance or in any other manner, support or encourage establishment of industrial/ commercial enterprises or companies engaged in industrial, commercial and trading activities.

Note: Pursuant to a Special Resolution passed at the Annual General Meeting held on August 20, 1993 as per Section 17 of the Companies act, 1956, the main object of the Company was amended to commence business as mentioned in Object Clause 1 A.


2. To advance, deposit or lend money and properties to or with any company, body corporate, firm, person or association on such terms as may seem expedient, to discount, buy, sell and deal in bills, notes, warrants, coupons, import entitlements and other negotiable or transferable. securities or documents, to guarantee or become liable for the payment of money or for the performance of obligations and generally to transact guarantees and/or Trust business. Provided the Company shall not carry on Banking business as defined by Banking
Regulations Act, 1949 and subject to the provisions of the Companies Act and directives of Reserve Bank of India.

To sell, exchange, mortgage, let on lease, royalty or distribute, grant licences, easements, options and other rights over and deal with or dispose of the undertaking property, assets, rights and effects of the Company or any part thereof for such consideration as may be though fit
and in particular for stocks, shares whether fully or partly paid up or securities of any other Company. To carry on the business of managing other leasing Finance Companies and/or acting as leading/Finance advisers and consultants on all matters and problems relating to Financial services, administration, organisation, new ventures and expansion of existing concerns.

To lend money either with or without security and generally to such persons and upon such terms and conditions as the Company may think fit.

To subscribe for absolutely or conditionally, purchase or otherwise acquire and to hold, dispose of and deal in stocks and securities or obligations of any other company whether Indian or foreign. Subject to the provisions of the Act to invest moneys of the Company not for the time being required for any of the purposes of the company in such investments (other than shares or stock of this company) as may be thought proper and to hold, sell or otherwise deal with such investments.

To borrow or raise or secure payment of money or to receive money on deposit at interest for any of the purposes of the Company and at such time or times and in such manner as may be thought fit and in particular, by the issue of debentures, or debenture-stocks perpetual or otherwise, including debentures or debenture stocks convertible into
shares of this or any other company or perpetual annuities and as security for any such money so borrowed, raised or received, or of any such debentures, or debenture-stock so issued to mortgage pledge or charge the whole or any part of the property, assets, or revenue and profits of the Company present or future including its uncalled capital by special assignment or otherwise or to transfer or convey the same absolutely or in trust and to give the lenders power of sale and other powers as may seem expedient and to purchase, redeem, or pay off any such securities, provided, the Company shall not carry on Banking business as defined by the Banking Regulation Act, 1949 and subject to the provisions of the Act and directives of the Reserve Bank of India.

To carry on the business of speculation in shares, stocks, debentures, debenture stock, bonds, obligations and securities issued and commodities permitted by any law for the time being in force in the country.

Note : Pursuant to Section 149 (2A) (i) of the Act, a Special Resolution was passed at the Annual General Meeting of the Company held on August 9, 1994 authorising the Company to carry on the above businesses.


The Company is presently engaged in the comprehensive range of activities which can be broadly classified into six major categories as under :

1. Marketing of Telecom Products and pipes
2. Leasing & Hire Purchase Finance
3. Merchant Banking
4. Bills Discounting & Money Market Operations
5. Investment & Portfolio Management
6. OTCEI Operations

1. Marketing of Telecom Products and Pipes:

Over the years, AFIL has developed a good marketing set-up for marketing telecom products. The Company is an authorised agent for various telecom products of companies like :

1. Birla 3M Ltd.
2. The Arvind Mills Ltd (Telecommunications Division)
3. Himachal Futuristic Communication Ltd-

AFIL is also an authorised agent for many G.I. Steel pipes manufacturers and HDPE pipe manufacturers like

1. Zenith Ltd.
2. Quality Steel Tubes Ltd.
3. Rajinder Steels Ltd.
4. Chemiplast Industries

The Company is expanding its marketing activities substantially and many more products of well known companies are likely to be added to the Company's marketing list.

2. Leasing & Hire Purchase Finance:

AFIL offers Leasing assistance on flexible terms, bearing in mind the Lessee's needs. Primarily it is engaged in the leasing of industrial equipments to corporate clients. The Company has started its Lease Financing operations in the financial year 1992-93 and within short period of two years, it has done leasing business of Rs.221 lacs till
July 31, 1994. Further a sum of Rs. 500 lacs has been earmarked for the purpose of creating leased assets during the current year.

3. Merchant Banking

AFIL is a CATEGORY-1 Merchant Banker duly registered with SEBI. With the help of experienced and professional management, it plans to create a niche for itself among the private sector merchant bankers. AFIL is presently concentrating mainly on the following activities:

1. Extending underwriting support
2. Capital structuring and other allied services.
3. Mobilisation of funds from the primary market.

The Company is active in extending underwriting support to various companies in their Public issues. Upto July 31, 1994, the Company has given underwriting commitments for 83 issues amounting to Rs. 925 lacs. The Company has not refused to honour any of its underwriting commitment till date.

4. Bills Discounting & Money Market Operations

AFIL has started these activities in the year 1992 and registered an income of Rs 47.27 lacs during the year 1993-94. This fund based activity covers discounting of trade bills, Inter-corporate Deposits, advance against shares and debentures etc. The Company also arranges ICDs for its corporate clients and thus has developed non-fund
based activities. The Company has number of corporate clients who avail the services of the Company on a regular basis.

5. Investment & Portfolio Management

AFIL is investing its funds in debt and equity instruments after detailed appraisal. It has also has its own Equity Research Department where Scrips are identified for long term and short term investments. All the investments are being scrutinised periodically for taking sell/buy/hold decision. At present the Company has total portfolio of
Rs. 360.35 lacs at market value as on July 31, 1994.

6. OTCEI Operations

AFIL has been registered as a DEALER on the OTC Exchange of India wef December 18, 1991 and has since been an active player at the Exchange. The OTC Exchange of India has great potential to be a Prime centre for trading activities in shares and debentures. OTC has recently included 60 scrips which are actively traded on Bombay Stock Exchange as Permitted Securities to be traded on its counter, and in future, more scrips are likely to be added.

The Company has been acting as a voluntary market maker for various scrips and has also been involved in bought deals of OTC Issues.


- Apollo Finvest India Ltd has appointed Shri. Sandeep Maheshwari as an Additional Director w.e.f. July 22, 2009.


- Shri. Sajjan Kanodia and Smt. Hemlata Poddar have been appointed as additional directors of the Company.