PIONEER INVESTCORP Share price

PIONEER INVESTCORP LTD. (PIL) was incorporated withRegistrar of Companies Maharashtra on 23rd January 1984as Pioneer Growth Fund of India Ltd. The name of theCompany was changed to Pioneer Leasing (India) Ltd. on 4thDecember 1985. The name was subsequently changed toPioneer Investcorp Ltd. on July 13 1994.The Company was mainly engaged in Lease Hire Purchase andBill Discounting activities and Lease and Loansyndications. The Company was accorded SEBI Category IMerchant Banking status from 1st November 1993. TheCompany has been admitted as a member of The National StockExchange in the Capital Market segment. The Company is nowproviding a wide spectrum of financial services includingIssue Management Corporate Counselling InvestmentBanking Capital Market operations Underwriting InvestmentAdvisory Services etc.The Company is a Non-Banking Financial Company and isgoverned by the Non-Banking Financial Companies (ReserveBank) Directions 1977 issued by the Reserve Bank of India.MAIN OBJECTS OF THE COMPANY(a) The main object as contained in the Memorandum of Association of the Company is as under: * To carry on and undertake the business of portfolio investments in equity shares preference shares stocks debentures (Convertible and non-Convertible) Company Deposits other Securities etc. and to deal in government Securities including Government Bonds loans national Savings Certificates post office Saving Schemes Units of Investments etc. other than Units of Unit Trust of India to assist in providing finance and to provide finances for any Company body corporate firm person or association by way of advances loans deposits Hire Purchase lease factoring underwriting and other forms of finance to finance industrial enterprises and to underwrite any issue of shares debentures bonds or other securities and to manage the funds of Investors by investment in various avenues.(b) Other principal objects which the Company is engaged in are: * To render various services like Merchant Banking lease and Hire Purchase consulting management consultancy financial tax investment employment engineering industrial and technical consultancy and to act as managers to public issue of securities by underwriting securities act as issue house and to carry on the business of Registrars to investment schemes. * To carry on and undertake business of leasing industrial and other equipments vehicles and other kinds of properties.PRESENT BUSINESSThe Company presently offers a diversified range ofFinancial Services in both Fund based and Fee basedactivities. The Company''s present business operations canbe classified as under:*Corporate Credit Operations*Investment Banking Operations*Merchant Banking Operations*Research*NSE and OTCEI operations*Corporate Credit Operations The Company''s Corporate Credit operations include Lease and Hire Purchase financing and Syndication Bill Discounting Promoter Funding Bridge Loan Financing Loan Syndication Inter Corporate Deposits etc. These services have been provided to Companies including Advance Radio Masts Ltd. Asian Electronics Ltd. Balaji Distilleries Ltd. ITC Group Kedia Distilleries Ltd. Kesar Enterprises Ltd. Patheja Forgings and Auto Parts Manufacturers Ltd. Sterling Holiday Resorts (India) Ltd. Synthetics & Chemicals Ltd. The Baroda Rayon Corporation Ltd. V.S. Dempo & Company Ltd. etc. The Company''s Corporate Credit operations have shown a steady growth in the past. In the first six months of the current year the Company has already done lease syndication business of more than Rs. 15000 lacs. In the past also the Company has been regularly doing Syndication business of more than Rs. 5000 lacs every year.*Investment Banking Operations The Company''s Investment Banking operations include investment in Equity Shares and Debentures of actively traded Companies. The Company''s Investment Banking operations includes both Primary and Secondary Market operations and are supported by a well equipped in-house Equity Research Division. Bought-out Deals are an emerging focus area for the Investment Banking activities of the Company. The Company has already successfully completed ''Private Placements'' and ''Bought Out Deals'' of securities of Companies like Micro Plantac Ltd. Ucal Fuel Systems Ltd. Khemka Containers Ltd. Ucal Power Systems Ltd. aggregating about Rs. 5000 lacs and holds mandates for some other prestigious Bought Out Deals. Keeping in view the emerging capital market scenario and the rapid disintermediation of the Indian capital markets as out lined under the heading ''Scope and Business Potential'' the Company is confident of inaeasing growth rates in its Investment Banking activities.*Merchant Banking Operations The Company was accorded Category I Merchant Banker status by SEBI with effect from 1st November 1993. The Company''s Merchant Banking activities include Corporate Advisory Services on Capital Structuring of both Equity and Debt and the entire gamut of Issue Management which includes Pre-Issue Marketing and Post Issue Management Private Placement of securities Underwriting etc. In the first 8 months of its Merchant Banking activities for the period from 1.11.93 to 30.6.94 the Company has earned Merchant Banking income of about Rs. 40 lacs.*Research The Company realised sometime back the need for setting up an Equity Research Division to add value to both its fund and non-fund based activities. The Company has structured its Research Division with a sectoral emphasis on certain focus industries. With the advent of large Foreign Institutional Investors and Foreign Securities firms the need for Research driven Investment Products is felt in an increasingly liberalised Capital Markets. The Company has C.As M.B.As Engineers and other qualified professionals in its Equity Research Division who carry out Industry and Company specific Research. The Research Division provides important support services in the decision making for all Investment Banking activities. As research is the focus area for the Company it is investing substantial amounts in modern technology in order to equip itself with a strong technological base. The Company is investing in both quality manpower and other tangible assets like advanced computer hardware and software packages corporate databases creation and development of in-house library by subscribing to important domestic and international publications. * NSE and OTCEI Operations: The Company has recently obtained Membership on the National Stock Exchange for the Capital Market Segment. It proposes to acquire the Sponsor Membership of the OTCEI. These would complement the existing operations of the Company and are expected to be major growth areas in the future. The scope of services provided by Pioneer is depicted in the following diagram.