GYFTR LIMITED Share price

LKP Finance Limited, formerly known as LKP Merchant Financing Limited, was incorporated in May, 1984. Thereafter, the Company was converted into a Public Limited Company in February,1986 and the name of the Company was changed to LKP Finance Limited in August, 2009. The Company was promoted by L K Panday, C P Mehta and M V Doshi. Presently, it is engaged into the business of finance, investment and trading in shares and securities, derivatives etc. The Company obtained permission from the Reserve Bank of India (RBI ) for carrying on the business of Non-Banking Financial Institutions on 21 May 2009. In Feb.'94, the company came out with a rights-cum-public issue of equity shares (premium : Rs 25 and Rs 30 respectively), aggregating Rs 28.33 cr to consolidate its capital base and augment its long-term resources. The company offers a wide range of financial services -- issue management, bill discounting, leasing and hire-purchase, full fledged money changing and has also started providing travel related Insurance Policy to bound passengers, etc. It is a SEBI-authorised category-I merchant banker and a sponsor member of the OTCEI. LKPMF's select clients include MRF, HDFC, the House of Tatas, the Birlas, Godrej, Finolex and many others. During the year 2001-02, the Company's Money Changing business was transferred to the wholly owned subsidiary, LKP Forex. Ltd effective from 1st March 2002. Gayatri Cement & Chemicals Industries Pvt. Ltd. and Doshi Holdings Pvt. Ltd. made preferential allotments of new equity shares whereby the Company's holding in the expanded capital of both these companies was reduced to less than 50% and consequently, both these companies ceased to be subsidiaries of the Company during the same period. During year 2006-07, Company's subsidiary, LKP Forex Ltd. amalgamated with Thomas Cook (India) Ltd with effect from 1st April 2006. Company's wholly owned subsidiary, LKP Securities Ltd. also increased its branch network in more than 54 cities and towns. In May 2007, the Company acquired 59,54,000 (99.23%) Equity Shares of M/s LKP Shares and Securities Limited . Hence consequent to the said acquisition of Equity Shares, LKP Shares and Securities Limited became a Subsidiary Company of the Company. Thereafter, the amalgamation of LKP Shares and Securities Limited, into LKP Securities Limited (a wholly owned subsidiary Company) was made effective from April 1, 2006. In terms of the said Amalgamation Scheme, 1 Equity Shares of LKP Securities Limited for every 2 Equity Shares of LKP Shares and Securities Limited were issued. M/s Gayatri Cement and Chemical Industries Pvt. Ltd. became Wholly Owned Subsidiary of the Company during the year 2009-10. Later, the Demerger of SEBI Registered Intermediaries Business of the Company into LKP Securities Ltd was implemented during the year 2016-17. As per the said Scheme of Arrangement, the equity shareholders of LKP Finance Limited were allotted 6 fully paid equity shares of Rs.2/- each in LKP Securities Ltd. for every one equity share of Rs.10/- each held by them in LKP Finance Ltd., which consequently, listed the equity shares of LKP Securities Limited at BSE Limited with effect from 1st December 2016. Thus, after implementation of Scheme of demerger of SEBI Registered Intermediaries Business of the Company into LKP Securities Ltd, LKP Securities Limited ceased to be a subsidiary of the Company effective from 8th July 2016.