KHANDWALA SECURITIES Share price

The Company was incorporated as Khandwala SecuritiesPrivate Limited on February 9 1993. The Company laterbecame a deemed public limited company on July 1 1995under the provisions of section 43(1A) of the CompaniesAct 1956. At the third Annual General Meeting held onSeptember 23 1995 the restrictions under section3(1)(iii) of the Act were deleted from the Articles and the Company became public limited within the meaning of section3(1)(iv) of the Act. Consequent upon the change of name afresh certificate of incorporation dated December 7 1995was issued by the Registrar of Companies MaharashtraBombay.The Company commenced its activities by providinginvestment and financial consultancy services to corporateand individual clients. In July 1993 the Company wasaccredited by SEBI as a category I Merchant Banker andcommenced offering a diverse range of financial services.Being primarily an investment bank the Company is mandatedand is currently offering services which include MerchantBanking Corporate Advisory Services UnderwritingInvestment Advisory Services Equity Research CorporateFinance Portfolio Management Leasing & Hire Purchase etc.The Company obtained membership of the National StockExchange both in the wholesale debt and capital marketsegments and has also obtained Sponsor Membership of theOver The Counter Exchange of India. The membership of theNational Stock Exchange was transferred to a wholly ownedsubsidiary Khandwala Finances Limited (KFL) in May 1994and the membership of the OTCEI is in the process of beingtransferred to KFL in order to comply with the respectiveStock Exchange guidelines.In June 1994 about twenty-five percent of the equitycapital of Khandwala Securities Limited was subscribed toat a premium by investors including Groups such asBajaj Bharat Forge and Vicco who are the Offerors tothe present Offer for Sale through this Offer Document.MAIN OBJECTS OF THE COMPANYThe main objects of the Company to be pursued by it on itsincorporation as set out in the Memorandum of Associationare as under: 1. To carry on the business of an investment and broking(including sub-broking) Company in all its branches andwithout prejudice to the generality of any other object tobuy underwrite invest in acquire hold lease selland/or otherwise deal in shares stocks debentures bondsobligations securities issued by any Government Statedominion commissioner public body or authoritymunicipal local or otherwise firm company associationor person in India or elsewhere and any other financialinstrument with or without obtaining corporate membershipof any one or more Stock Exchanges in India and/or abroad.2. To carry on the business of UnderwritersSub-underwriters Advisors and/or Consultants to publicand/or private issues of shares debentures whetherconvertible or not fixed deposits or to act in any othercapacity so as to render all kinds of services allied tothe activity of shares and stocks.The Main Objects clause of the Memorandum of Association ofthe Company enables it to undertake the activities forwhich the funds are being raised by the present issue andalso the activities which the Company has been carrying ontill date.