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एचएसबीसी इंवेस्ट > कंपनी इतिहास > Finance - General > कंपनी इतिहास का एचएसबीसी इंवेस्ट - बीएसई: 532653, NSE: HINVDIR

एचएसबीसी इंवेस्ट

बीएसई: 532653  |  NSE: HINVDIR  |  ISIN: INE800B01013  |  Finance - General

कंपनी इतिहास - एचएसबीसी इंवेस्ट
 Incorporation
 
 The Company was set up as Investsmart India Limited, a wholly owned
 subsidiary of Infrastructure Leasing & Financial Services Limited
 for
 carrying on capital market activities such as share and stock
 broking,
 underwriting, placement of securities etc. The Company was
 incorporated
 on September 01, 1997 and received the Certificate of Commencement
 of
 Business on October 07, 1997.
 
 Change In the Registered office of the Company
 
 IL&FS has set up a financial centre in Bandra Kurla Complex in
 Mumbai
 with a view to house all its subsidiaries, ventures etc. at the same
 place for administrative convenience and to pursue group synergy.
 Pursuant to this, on June 14, 2000 the registered office of the
 Company
 was changed from Mahindra Towers, 4th Floor, 'B1 Wing, Dr. G. M.
 Bhosale Marg, Worli, Mumbai 400 018 to The IL&FS Financial Centre,
 Plot
 C-22, G Block, Bandra-Kurla Complex, Bandra (E), Mumbai 400 051.
 
 Subscription by ORIX Corporation, Japan in 2000
 
 ORIX subscribed to 80,00,000 equity shares in March 2000
 representing
 27.59% of the paid up capital at that point of time. ORIX is an
 integrated financial services group based in Tokyo, Japan, providing
 innovative value-added products and services to both corporate and
 retail customers. With operations in 24 countries worldwide, ORIX's
 activities include leasing, corporate finance, real estate-related
 finance and development, life insurance, and investment and retail
 banking. ORIX is made up of 202 consolidated subsidiaries and 74
 affiliates. ORIX has 974 offices in Japan, with 234 locations
 throughout the United States, Asia, Oceania, Europe, the Middle East
 and Northern Africa.
 
 Amalgamation of IL&FS Merchant Banking Services Limited (IMBSL) and
 DebtonNet India Limited (OIL) with IL&FS In vests mart Ltd
 (erstwhile
 In vests mart India Limited)
 
 IL&FS, in addition to its core activity of infrastructure financing,
 was also registered with SEBI as a Category merchant banker since
 the
 inception of the SEBI (Merchant Banking Regulations) 1992.
 Consequent
 to changes in SEBI regulations on segregating merchant banking from
 fund based activities, IL&FS set up IL&FS Merchant Banking Services
 Limited (IMBSL) as a wholly owned subsidiary.  IMBSL was set-up to
 provide full-fledged merchant banking services and was registered as
 a
 Category I merchant banker with SEBI.
 
 IL&FS also had a 50% stake in another company called DebtonNet India
 Limited (OIL), which was set up along with. National Stock Exchange
 of
 India Limited. DIL was set up to provide an automated and
 transparent
 platform, using the Internet, for book built debt issuances. Over a
 period of time DIL had enhanced the scope of the platform to provide
 a
 wide range of information, news and analytics relevant to the debt
 market.
 
 With a view to consolidate IL&FS's interests in the capital markets
 IMBSL and DIL were merged into the Investsmart India Limited. Prior
 to
 this, IL&FS had taken over the 50% stake of National Stock Exchange
 of
 India Limited in DIL. The scheme of amalgamation was approved by the
 High Court on August 01, 2002 and was effective from January 01,
 2002.
 
 Benefits of the Merger
 
 The main benefits of the merger of IMBSL and DIL with IL&FS
 Investsmart
 Limited were as follows:
 
 1. The merger resulted in making available to the parties the
 benefit
 of financial resources and the expertise of each other.
 
 2. The activities undertaken by the three companies were
 supplementary
 and complementary to the activities of each other. It was felt that
 it
 would be advantageous to combine the activities of all the three
 companies in to a single company. The merger of IMBSL and DIL with
 IL&FS Investsmart Limited would provide synergy besides economies in
 costs by combining total business functions and the related
 activities
 and thus contribute to the profitability of the amalgamated company.
 
 3. All the three companies had within themselves the wholesale and
 retail relationships and multiple resources capabilities that could
 be
 better leveraged under a common umbrella.
 
 4. IL&FS Investsmart Limited was primarily focused on the retail
 segment through its broking and other distribution activities, IMBSL
 was focused on wholesale and institutional segments of the financial
 market and DIL was focused on the wholesale and institutional
 segments
 of the debt market. It was expected that the amalgamated company
 would
 have diversified income profile insulating itself from adverse
 market
 conditions and have better competitive positioning.
 
 5. It was also expected that the amalgamated company would have the
 benefit of the combined resources, man-power and cash flows of all
 the
 three companies It was envisaged that with the enhanced capabilities
 and resources at its disposal, the amalgamated company would have
 greater flexibility to market and meet customer needs and compete
 more
 effectively, thus strengthening the position of the merged entity.
 
 6. IL&FS Investsmart Limited had a first level contact with retail
 customers, which included senior corporate employees and members of
 their management team. It was envisaged that a complete integration
 would provide immense relationship spin offs and provide a sound
 foothold for the Investment banking business. Concomitantly, IMBSL &
 DIL held corporate and institutional relationships.  Personal
 investment planning and advisory services for their senior personnel
 were expected to deepen the relationship with the corporates and
 enable
 IL&FS Investsmart Limited to make an entry within the corporates for
 other retail business.
 
 Valuation and Share Swap Ratio
 
 The valuation was approved by the High Court, Mumbai and the share
 swap
 ratio for the transaction was arrived at based on the value of Rs.
 35,
 Rs. 15 and Rs. 12 per share respectively for IL&FS Investsmart
 Limited,
 IMBSL and DIL. A share swap ratio of 3 shares of IL&FS Investsmart
 Limited for every 7 shares of IMBSL and 34 shares of IL&FS
 Investsmart
 Limited for every 100 shares of DIL was arrived at, and the same was
 approved by the board of directors and shareholders of the
 respective
 companies.
 
 Sale and Lease back of property from IL&FS
 
 The Company had purchased office premises for its registered office
 from IL&FS in September 2001 through two separate agreements for a
 total consideration of Rs 2382.66 lakhs. Out of these two
 agreements,
 one agreement covering an area of 7010 sq ft was entered into with
 IL&FS Merchant Banking Services Limited (which was subsequently
 merged
 with IL&FS Investsmart Limited) for a total consideration of Rs
 736.05
 lakhs. The other agreement covering an area of 15682 sq ft was
 entered
 into with Investsmart India Limited for a total consideration of
 Rs 1646.61 lakhs.
 
 On January 30, 2004, the Company, through a Sale Deed sold the
 entire
 area aggregating 22692 sq ft for a total consideration of Rs 2541.50
 lakhs to IL&FS. The Company has subsequently entered into business
 services agreements dated April 23, 2004 and December 31, 2004 with
 IL&FS pursuant to which it occupies the said premises.
 
 Purchase of Property
 
 No property which the Company has purchased or acquired or propose
 to
 purchase or acquire which is to be paid for wholly or partly out of
 the
 proceeds of the present Offer or the purchase or acquisition of
 which
 has not been completed on the date of this Red Herring Prospectus,
 other than property in respect of which :
 
 * the contracts for the purchase or acquisition were entered into in
 the ordinary course of the business, and the contracts were not
 entered
 into in contemplation of the Offer nor is the Offer contemplated in
 consequence of the contracts; or
 
 * the amount of the purchase money is not material; or
 
 Except as stated on page 91 of this Red Herring Prospectus, the
 Company
 has not purchased any property in which any of its promoters and/or
 Directors, have any direct or indirect interest in any payment made
 thereof.
 
 Change in name of the Company from Investsmart India Limited to
 IL&FS
 Investsmart Limited
 
 Pursuant to the merger of IMBSL and DIL with Investsmart India
 Limited,
 the stake of IL&FS increased from 53.33% to 60% and consequently
 IL&FS
 became a major shareholder of the Company. Further to reap the
 benefits
 of IL&FS brand and parentage, it was proposed to change the name
 from
 Investsmart India Ltd to IL&FS Investsmart Limited. A fresh
 certificate
 of incorporation was issued by the Registrar of Companies consequent
 to
 change of name on March 25, 2003.
 
 Induction of Strategic Investors
 
 SAIF Investment Company Limited, Mauritius
 
 SAIF has acquired 20% equity stake in 2004-05 in the Company. SAIF is
 a
 wholly-owned subsidiary of Softbank Asia Infrastructure Fund
 (SBAIF).
 SBAIF is a leading Asian private equity firm headquartered in Hong
 Kong. SBAIF is a strategic joint venture between Softbank
 Corporation
 and Cisco Systems that was formed in early 2001 to make investments
 in
 information technology, media, and telecom related companies based
 (or
 with significant operations) in the Asia Pacific region. SBAIF
 focuses
 its efforts primarily on China, India and Korea. Cisco Systems, Inc.
 is
 the sole limited partner of the Fund and has committed 4 million
 in
 the first of a series of funds. Over the years, Softbank has made
 investments in E*TRADE FINANCIAL, Yahoo!, UTStarcom, Shanda, Sify
 Limited, & Intelligroup.
 
 E*TRADE Mauritius Limited (ETM)
 
 ETM acquired 13.94% equity stake in the Company. E*TRADE Mauritius
 Limited, is a wholly-owned Mauritius based subsidiary of Converging
 Arrows, Inc formed and existing under the laws of Nevada, which in
 turn
 is wholly-owned subsidiary of E*TRADE FINANCIAL Corporation.
 
 E*TRADE FINANCIAL provides financial services including brokerage,
 banking and tending for retail, corporate and institutional
 customers.
 With 2.7 million households and 3.5 million customer accounts
 worldwide, U.S.-based E*TRADE FINANCIAL Corporation operates branded
 web sites in 12 countries.
 
 MAJOR EVENTS IN THE HISTORY OF THE COMPANY
 
 Year       Event 
 
 1997-1998  * February 1998: Commenced equity broking on NSE
 
 1998-99    * Commenced branch operations for retail businesses at 
              Bangalore, Chennai and Kolkata.
 
 1999-2000  * August 1999: Commenced equity broking on BSE
            * March 30, 2000: ORIX subscribed to 80,00,000 Equity
 Shares
            * March 30, 2000: K. Raheja group subscribed to 30,00,000
 
              Equity Shares
            * Launched a fully functional website : 
              www.investsmartindia.com
 2000-2001  * April 14, 2000: Change in the registered office of 
              the Company
            * June 2000: Commenced derivative broking on NSE
            * January 2001: Launched investment advisory products.
            * Set up a dedicated mutual fund desk and fixed income 
              retail desk at branch locations.
            * Received SEBI registration as a Portfolio Manager
 2001-2002  * January 01, 2002 : Merger of IL&FS Merchant Banking 
              Services Limited (IMBSL) and DebtonNet India
              Limited (DIL) with the Company
            * Foray into insurance distribution through setting up of
 
              wholly owned subsidiaries i.e. Investsmart Insurance
              Agency Pvt. Ltd. and Investsmart Insurance Distribution
 
              Private Limited as Corporate Agents of HDFC Standard
 Life 
              Insurance Company Limited and Life Insurance Corporation
 
              of India respectively 
 2002-2003  * March 25, 2003 : Change in name of the Company from 
              Investsmart India Limited to IL&FS Investsmart Limited
 
 2003-2004  * Registered as an Underwriter with SEBI
            * Acquired 4 branches of Tata TD Waterhouse Securities
 Pvt. 
              Limited along with assets.
            * Incorporated a wholly owned subsidiary, IL&FS
 Investsmart 
              Commodity Brokers Limited
            * Acquired IL&FS Academy for Insurance and Finance Limited
 
              (Formerly known as SAIFA Training Academy Limited)
 
 2004-2005  * Induction of ETM and SAIF as strategic investors
            * Commenced derivative broking on BSE
            * IL&FS Investsmart Insurance and Risk Management Services
 
              Limited (formerly Investsmart Insurance Distribution 
              Private Limited) applied for insurance broking license 
              which is currently pending with IRDA
 
            * Name of SAIFA Training Academy Limited was changed to 
              IL&FS Academy for Insurance and Finance Limited
 
            * Commenced commodities broking business through wholly 
              owned subsidiary, IL&FS Investsmart Commodity 
              Brokers Limited
 
 2007
 
 - IL&FS Investsmart Ltd has informed that Mr. Mitchell Caplan, Chief
 Executive Officer and Director of E*TRADE FINANCIAL Corporation, USA
 has been appointed as an Additional Director on the Board of the
 Company.
 
 2008
 
 -IL&FS Investsmart Ltd has informed that Mr. Gregory Framke has been
 appointed on the Board of the Company in the meeting of the Board
 held on February 28, 2008 subject to completion of regulatory
 procedures including obtaining Director Identification Number (DIN).
 
 
 2009
 
 - HSBC InvestDirect (India) Ltd has appointed Ms. Naina Lal Kidwai as
 an Additional Director of the Company with immediate effect.
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

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