SIDDHA VENTURES Share price

IFB Securities Ltd. was incorporated as a Public Limited Companyon 26the November 1991 and had received Certificate ofCommencement of Business on the 16the January 1992.The Company is presently engaged in the business of investmentand financial services related activities. Since its inception.the Company has been operating in the capital market. Based onits in house research activities and access to marketinformation the Company has been assisting the group companiesin identifying various investment options and the differentroutes available for raising resources; however the actualdeployment of funds have been carried out by the respectivecompanies.In order to meet the broking requirements of individualinvestors in June 1993 the Company opened a retail outlet inCalcutta under the name and style "Share & Share". Since thenthe Company has opened few more such outlets.In July 1993 the Company in association with Shri Ajit Day.Member and Ex-President of Calcutta Stock Exchange promoted CPLSecurities Pvt.Ltd. with a 50% stake in the equity capital. CPLSecurities Pvt.Ltd. has since been admitted as a CorporateMember Broker of the Calcutta Stock Exchange.lFB Securities has received permission from the Govt. of Indiaand the Reserve Bank of India to acquire 65% stake in the equityof Cantor Capital Corp. (hereinafter referred to as " Canto ").a U.S. Broker Dealer firm of repute. The reference number anddate of the above mentioned Govt. of India and RBl permissionsare as under: Reference Number DateGovt. approval:1/11 7/93-EP(01) 03.02.94RBI Approval: CA.EC.279/1 0.01.0092/9394 28.02.94Cantor is presently engaged in a wide range of financialservices including portfolio management and broking activities.Cantor is registered withthe Securities & Exchange Commission(SEC) USA and the Municipal Securities Rule Making Board USAand is a Member-Broker of the National Association of SecuritiesDealers Quote-Driven (NASDAO). Cantor has also receivedregistration from SEBI for operating as a foreign broker (SEBIRegistration No. IN USA 01-4-94 dated 18.02.94). With thisstrategic alliance lFB Securities expects to capitalize on theincreasing interest of foreign investors in Indian securitieswith Cantor offering broking services to FlIs especially thosebased in USA. With a Wall Street location in New York Cantorwill also help in channelising the resources of the NRlinvestors based in North America. Further the lFB-Cantor tieup will help Indian corporate in marketing their Euro issues inthe overseas market.lFB Securities is now entering the high-growth high-value debtmarket and has obtained trading membership of the Wholesale DebtMarket segment of the NSE (NSE Registration No. 06006). Themembership is effective from 02.05.94 and is renewable everyyear on payment of the requisite annual fee.The Company has also applied to SEBI for necessary permissionsto undertake portfolio management investment advisory servicesand other management consultancy services.