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Parsoli Corporation Ltd.

BSE: 530071 Sector: Financials
NSE: N.A. ISIN Code: INE905D01016
BSE 05:30 | 01 Jan Parsoli Corporation Ltd
NSE 05:30 | 01 Jan Parsoli Corporation Ltd

Parsoli Corporation Ltd. (PARSOLICORPN) - Company History

Promoted by Z Y Sareshwala, Parsoli Corporation Ltd, earlier known as Parsoli Capital & Finance was incorporated in Nov.'90 as Parsoli Investment & Trading Company. The name of the company was changed to its present one in Sep.'94 and subsequently in Oct.'94, it was converted into a public limited company. Initially, the company was engaged in the business of stock broking, share shop and share market related activities. Share shop is an open window for spot buying and selling of shares. It provides a bridge loan from the date of sale of shares till the payment is actually received by the company from the broker. PCL went public in Feb.'95 with its maiden issue to augment funds to expand and diversify its capacities in fund-based and non-fund-based activities like leasing and hire-purchase, capital market operations, investment in primary and secondary capital markets, bridge loan equity assistance to investors, intercorporate deposits, merchant banking, project consultancy, loan syndication, etc. The company has installed a modem for ICNET and E-mail services. Currently, the company carries on business mainly through a network of sub-brokers in and around Ahmedabad. Apart from the sub-broker network, it is concentrating on high-networth clients in Ahmedabad and Mumbai. PCL is setting up a working arrangement with Al-Raee group of Saudi Arabia to cater to the needs of non-resident Indians.