Alpic Finance was incorporated on 27 May '85 as Alpic Trading Enterprises. It was promoted by Shirin Hamied and Geeta Lulla. The name of the company was changed to the present one in 1992. The company is a multi-product financial services company offering a wide range of services and products. The services are leasing, hire purchase and consumer finance; commercial bill discounting; securities and money markets; investment and capital market; and international banking and business advisory services. The company came out with a public issue in Feb.'93 at a premium of Rs 90 to strengthen the capital base and to augment long-term resources needed for business expansion.
With its strong resource base, vast experience and expertise, wide office network, well established relationships, and being innovative, and enjoying strong fundamentals, it proposes to enlarge its area of financial and allied services activities with a mutual fund asset management company in the near future.
The associate companies -- Alpic BBK Finance, a joint venture with Bank of Bahrain and Alpic Securities -- started operations in 1994-95 on the National Stock Exchange and the Bombay Stock Exchange respectively, of which they are corporate members. The company's other joint venture -- Alpic Everest Finance, Kathmandu, began its operations during the year.
The company has also floated Allianz Alpic Industrial Risk Management Services Ltd in joint venture with Allianz AG of Germany to offer insurance and risk consultancy services.