MUNOTH COMMUNICATION LIMI Share price

Munoth Investments Ltd. (MIL) was incorporated at Madras on27th April 1984 and obtained the Certificate ofCommencement of Business on 20th June 1984.The Company has been carrying out business in the field ofleasing and film financing since incorporation. In Nov.1992 the Company made a Public Issue of 1800000 EquityShares of Rs. 10/- each for cash at par aggregating Rs. 180lacs mainly for the purpose of augmenting its long termresources for working capital and enhancing the borrowingpower besides getting the Company''s shares listed on theStock Exchanges.The Company which is a Non-Banking Finance Company hasgradually expanded its operations in traditional areas suchas lease financing besides branching out into MerchantBanking Bill Discounting Syndication of Inter-CorporateDeposits (ICDs) etc. The Company is a SEBI registeredCategory I Merchant Banker.During the period January to December 1994 the Companyacted as Co-Managers / Advisors to 9 Issues. Underwritingsupport to the extent of Rs. 178 lacs was extended to 43Issues.The Company has during the last three years extended tovarious clients lease finance to the extent of Rs. 23.59lacs Rs. 61.61 lacs and Rs. 501.38 lacs respectively. Themajor clients to whom MIL has extended fund-basedfacilities include Shriram Transport Finance Ltd. DeveSugars Ltd. Anubhav Foundations Ltd. Asian SecuritiesLtd. etc.In May 1993 MIL launched a novel concept called the ''FundFinders Corporate Give "n" Take Club''. The main objectiveof the club is to syndicate Inter-Corporate Deposits andother short-term sources of finance for corporate clientsby providing a common meeting ground between lenders withsurplus funds and borrowers with fund requirements.Initially started in Madras the Club'' which functions asa separate division of MIL has 9 franchise centres locatedall over the country. Some of the major clients of the''Club'' include Sakthi Sugars Ltd. Videocon Ltd. MACIndustries Ltd. SRF Finance Ltd. First Leasing Company ofIndia Ltd. ITC Bhadrachalam Finance Ltd. PentafourSoftware Ltd. Sri Kannapiran Mills Ltd. PremierInstruments & Controls Ltd. etc. Till date the Club hadsyndicated funds to the tune of Rs. 125 crores.MAIN OBJECTS OF THE COMPANYThe main objects of the Company as detailed in itsMemorandum of Association are as follows:1. To lend and advance money to entrepreneurs promotersand Industrial concerns film producers film distributorscinema exhibitors and to carry out hire purchasing leasingor other financing activities for industrial commercialagricultural enterprises or individuals.2. To carry on and undertake business as financiers andcapitalists to finance operations such as managingpurchasing improving selling letting on hire leasingout on rent and dealing in all kinds of movable orimmovable property goods machinery chattels motor-carsmotor buses motor lorries motor launches ships landsbuildings bullions gold and silver ornaments includingprecious stones jewellery stocks shares bonds andgovernment bonds domestic appliances and electricalelectronic and domestic goods.3. To carry on and become engaged in financial monetarybusiness including leasing out properties and goods of anynature.4. To invest in hold acquire and deal in shares stocksunits debentures bonds negotiable instrumentsobligations and securities issued of guaranteed by anycompany situated or carrying on business in India orelsewhere and debentures bonds debenture stockobligations and securities issued or guaranteed by anygovernment or authorities (supreme national local ormunicipal).5. To acquire by purchase lease exchange or otherwisedevelop and turn to account any land building warehousesshops factories commercial complex and/or any Interesttherein and to carry out buainess of repairingmaintaining constructing re-constructing re-structuringre-modelling renovating furnishing altering anddecorating offices factories residential houses flatswarehouses shops commercial complex buildings works andof consolidating constructing or sub-dividing propertiesand of leasing or disposing of the same.6. To carry on and undertake the business of PortfolioInvestments and management for both individuals as well aslarge Corporate Bodies and/or such other bodies as approvedby the Government in Equity Shares Preference SharesStock Debentures (both convertible and non-convertible)Company Deposits bonds units loans obligations andsecurities issued or guaranteed by Indian or ForeignGovernments States Dominions Sovereigns Munici alitleeor Public Authorities and/or any other financialinstitutions and to provide a package of investments andMerchant Banking services by acting as manager to publicissues of Securities to act as underwriters issue houseand to carry on the business Registrars to PublicIssues/various investments schemes and to act as ShareTransfer Agents and as brokers to Public Issues.7. To carry on the business of an investment trust companyand to invest in and/or promote and /or to establish in itsown name or as a holding Company or by entering intopartnership with others finance Companies and BrokerageHouses.8. To engage in acquisitions amalgamations venturecapital and in all related merchant banking activitiesincluding loan syndication.SUBSIDIARY COMPANIESThe Company has no subsidiaries as on date. However theCompany proposes to invest Rs. 125 lacs from the proceedsof the Present Issue in the Equity Capital of MunothExpoknit Ltd (MEL) the details of which have been givenelsewhere. Consequently MEL will become a wholly-ownedSubsidiary of the Company.