Incorporated in 1992 as a Private Ltd company, Subuthi Finance Ltd became public in 1994. It has been promoted by K V Balakrishnan and his associates. The Chennai (TN) based company is being headed over by K V Balakrishnan as the managing director.
The company is presently engaged in the financial services operations and offer diversified range of services which include corporate credit opertions, investment banking operations, merchant banking operations and OTCEI operations.
The company has obtained dealership status from the OTCEI. It came out with a public issue of 18,00,000 equity shares of Rs 10 each for cash at a premium of Rs 20 per share aggregating to Rs 5.40 cr in Mar.'96 for the augmentation of working capital.
The Company plans to increase the blue chip corporate clientele in Lease and Hire Purchase areas. It is also planning to set up a 1.8 MW wind farm in Karnataka with the financial assistance from IREDA and also looking at the option of promoting projects in the infrastructure areas for the long term benefits.
During the year under review i.e. 1999-2000, the company's turnover has increased to Rs.644.97 lacs and the profit after tax was Rs.49.52 lacs i.e. an increase of 11% from the previous year.