SAKTHI FINANCE Share price

The Company was promoted by Dr. N. Mahalingam during theyear 1955 in the name of "The Pollachi Credit Society Pvt.Ltd.". The name of the Company was changed to "SakthiFinance Ltd." in 1967.The share capital of the Company during 1984 was Rs. 25lakhs which was held mainly by promoters and theirassociates. The Company made its first public Issue ofshares in 1984 and mobilised Rs. 75 lakhs. Thereafter theCompany made two rights issues for Rs. 52.50 lakhs and Rs.103.83 lakhs in 1986 and 1988 respectively. A conversionof Convertible Cumulative Preference Shares into equity wasmade in 1989 for Rs. 52.50 lakhs to make the total paid upcapital of the Company Rs. 308.83 lakhs.3088320 equity shares of Rs. 10/- each at a premium ofRs. 20/-per share were allotted in June 1993 on rightsbasis. The present paid-up equity capital is Rs. 617.66lakhs.The total deposits mobilised by the Company crossed theprestigious Rs. 100 crore mark in the year 1991. TheCompany is principally engaged in hire purchase and leasingbusiness. The Stock on Hire has grown steadily over theyears from Rs. 203.60 lakhs in 1984 to Rs. 19099.46 lakhsin 1995. During the same period the leased assets havealso grown from Rs. 34.52 lakhs to Rs. 4905.19 lakhs. TheCompany now has 40 branches in 5 States and 2 UnionTerritories of India. Safe vaults are installed in 22branches.The Company''s business currently involves1) Acceptance of deposits Hire Purchase Financing andLeasing of vehicles Machinery Industrial Equipments etc..Mortgage Financing. Dealing in investments and otherfinance related activities.ii) Letting out Safe Vaults.