SM Finance was incorporated on 5 Mar.'84 as Nagarjuna Hire Purchase. The management of the company has undergone a sea change over the years. In the last quarter of 1990, as the equity holding of the Nagarjuna group was acquired by SM group of companies, the company was renamed SM Finance with effect from 8 Jan.'91.
SM Finance, an enterprise of the SM Dyechem group, enjoys a market reputation as an ace merchant banker.
The company is engaged in leasing and hire purchase, corporate finance, merchant banking, trading in securities, finance counselling and also as a registrar and transfer agent. The company has geared up to play a more active role and take up various other finance-related activities including portfolio management, bill discounting, etc, through its wide network of branches all over India.
It introduced an auto-finance scheme last year, which has taken off successfully. The company has been permitted by the Reserve Bank of India to operate as a full-fledged money changer.
During the year 1995-96 the company was associated as a Lead Manager with 9 Issues aggregating Rs.25 crores and provided underwriting to over 50 Issues for an aggregate amount of over Rs. 7 Crores.During the same year SM Share & Stock Brokers Ltd became a subsidiary of the company.
The Company has also installed one Wind Power Mill Project of 550 KVA at Poolvadi in Tamil Nadu and the project was completed towards the end of the year 1995-96.