CHOICE INTERNATIONAL Share price

The Company was incorporated on 12th March 1993 as PublicLimited Company in the name of Choice Financial ServicesLimited in the State of Maharashtra. The Company obtainedits certificate of Commencement of business on March 301993. The company has been providing marketing and advisoryservices in the capital market with its main focus onnon-fund based activities.The Company is registered with Securities and ExchangeBoard of India (SEBI) as a Category IV Merchant bankerw.e.f. 16th September 1993.The Company is engaged in various financial servicesespecially in the fields of Loan Syndication CorporateAdvisory services Merchant banking placement of Equityand debt etc. The Company has recently started treasuryleasing and investment activities. Now the Company isdiversifying into stock broking activities.The Company has made an application for Registration as aCategory I Merchant Banker with Securities and ExchangeBoard of India.The Company has also applied for dealership on OTC Exchangeof India.PRESENT ACTIVITIESThe Company has been approved by SEBI as Category IVMerchant Banker with effect from October 8th 1993. Thecompany has since then been independently handling Publicand Rights Issues as Advisors. The company has applied toSEBI for registration as Category I Merchant Banker.A brief note on company''s present activities is as follows:(A) Non-fund based activities : The various non-fund based activities undertaken by theCompany are as follows:(i) Advisor/Consultant to the issue : The advisory services encompass the entire gamut ofactivities connected with management of issues whichinclude drafting of Prospectus/Letter of Offer Structuringthe Capital Pricing the Instrument Co-ordinating withAgencies like Printers Advertising agencies Registrarsevolving an effective marketing strategy assisting thecompany is complying with all the connected legalformalities. In all these the company supplements theactivities of the concerned Lead Managers. The Company hasbeen appointed as Advisors to the issue for public issuesof 12 companies. These companies are from different sectorsof industry viz. packaging Engineering HDPE BagsAyurved Machinery Press Power products finance etc. TheCompany has already completed 3 assignments for projectscosting more than Rs.25 crores during the period ended31-12-1994. The Company earned total revenue of Rs.6.73lacs in this division.(ii) Project Consultancy and Loan Syndication:The major activities involved in project consultancyprovided by the company includes Project identificationpreparation of project feasibility reports preparation ofloan applications selection of lending institutionsliaisoning with various Government departments andInstitutions/Banks etc. The Company was appointedconsultants for syndicating term loan for industrialprojects in the areas of castings spinning & others. theLoan Syndication work for projects costing more than Rs.160crores were completed by the company during the periodended 31st December 1994. The Company earned a revenue ofRs.25.00 lacs from this division.(iii) Equity Research and Placement: The Company is doing Equity research for a completeanalysis of Company''s operations. The Company also helps inplacement of Equity Shares/Debentures etc. withInstitutions/Mutual Funds etc. The Company earned Rs.7.52lacs from this division for the period ended 31st December1994.(iv) Corporate Advisory Services:The Company has a team of a Chartered Accountants whichhelps the clients in Corporate tax planning Capitalstructuring Company law matters matters relating tolisting on stock exchanges and Management InformationSystem etc. The Company earned Rs.4.77 lacs from thisdivision for the period ended 31st December 1994.(B) Fund based activities:The Company has recently started various fund basedactivities to profitably utilise the funds available to theCompany. (I) Investment Banking:The Company with its in-house Equity Research identifiespotentially good scrip for investments. The Company investsin primary market as well as secondary market in companieswith good potential.(ii) LeasingThe Company has commenced Leasing activities to avail ofthe tax benefits and steady income throughout the year.(iii) Treasury Operations :The Company also deploys its short-term surplus funds forfinance at attractive interest rates for periods notexceeding 6 months.SUBSIDIARIES OF THE COMPANYThe Company has a subsidiary company incorporated on 2ndDecember 1994 viz. Utkristh Finance Ltd. The Company holds99.78% shares in its subsidiary company having a paid-upcapital of Rs.98500. The balance 0.22% shares are held byits Managing director and employees. The Company plans toinvest Rs.40 lacs in its subsidiary company to carry outstock broking activities on Bombay Stock Exchange NationalStock Exchange and OTC Exchange of India. The Company hasapplied for dealership of OTC Exchange of India and stepsare being taken to obtain terminals for Sub-broking on BSEand dealing on NSE.