Geojit Financial Services Share price

The company Geojit Securities Limited (GSL) was apartnership firm with two partners - Mr.C.J.George andMr.Ranjit under the name and style of M/s Geojit & Companyestablished on 4th November 1988 to act as stock and sharebrokers with membership on the Cochin Stock Exchange. Thepartnership was dissolved and became a sole proprietorshipfirm operated by Mr.C.J.George on 15th February 1994 andcontinued the business as stock and share brokers underits original name of Geojit & Company as a approved memberof the Cochin Stock Exchange and SEBI. The firm has also aSEBI approval as a Category IV Merchant Banker. This firmhas been converted into a Public Limited Company under thename and style of Geojit Securities Limited by taking overthe assets and liabilities of the firm Geojit & Company on6th February 1995 the modalities for the takeover had beenauthorised by the Board of Directors of the company in itsmeeting dated 26th November 1994. The company has itsregistered office at R.K. Building Alappat Cross RoadRavipuram Cochin - 682016. The company was incorporated asa Public Limited Company on 24th November 1994 and obtainedits Certificate of commencement of business on 25th January1995. The company has obtained the approval of the CochinStock Exchange at its Council of Management meeting heldon February 02 1995 for the conversion as a corporatemember of the exchange and communicated to the company videtheir letter Ref.SE/F/263/95 dated February 13 1995. Thecompany has been registered with SEBI as a corporate memberon March 31 1995 and has been alloted INR 090708932 as itsregistration number.The company has been granted membership on the NationalStock Exchange vide its letter no:NSE/MEM/CM/5109 dated15th May 1995. The subsidiary company - Geojit Stock and Shares Limitedhas obtained the approval from the OTCEI to function as aDealer vide letter No: CIR/DEAL-OFFER/CP3/ 1608 dated25/08/95.The company consequent to its change in status has made anapplication to SEBI Madras for permission to carry on itsactivities as a Category IV Merchant Banker. The responsefrom SEBI Madars in this reagrd is still awaited. PRESENT ACTIVITIES OF THE COMPANYThe company is at present engaged in the activities ofstock and share broking underwriting marketing of initialpublic offering of companies and mutual funds corporateadvisory services investments in shares participating inBought Out Deals syndication of inter-corporate depositsdebt bought-outs etc. and other fee related financialservices. The company has at present branches at TrichurKottayam Muvattupuzha and Coimbatore apart from havingrepresentative offices at Bombay.SUBSIDIARY OF THE COMPANYThe company has a subsidiary in the name of Geojit Stockand Shares Limited (GSSL) to carry on the activities as aDealer of Over The Counter Exchange of India. GSSL wasincorporated on 25th January 1995. The company proposes toinvest Rs.30.00 lacs in the equity of GSSL which is one ofthe objects to the proposed issue. The activities proposedto be carried out and the future projections are discussedelsewhere in the prospectus.