Munoth Financial Services Ltd

Munoth Financial Services Ltd

Registered as Privated Limited CompanyMUNOTH FINANCIAL SERVICES LIMITEDwas incorporated in 1995.The company has went on IPO in 1996 and issued 3780000 Equity Shares of Rs.10/- each.The company is been engaged in Merchant BankingInvestment Services and Share Broking.Despite unfavourable market conditions the company has performed wellby expanding its client horizon during the year 2000-01.The company has set up two Branch offices at Bangalore and Jaipur and branch offices have started functioning.During the year 2000-01 the company made an issue of 113000 fully paid up Equity Shares of Rs.10/-each at a premium of Rs.90/- per share payable in cash and 112000 Equity Shares of Rs.10/-each at a premium of Rs.90/- per share in consideration otherwise than in cash to M/s Priory Investments(Mauritius) Limited.Consequent to thisthe paid up Equity Share Capital of the company has been increased to Rs.52260000.Fiscal 2001 witnessed the announcement of several measures by the market regulators aimed at bringing structural changes in the financial services sectorto strengthen the system and to improve the functioning of the various segments of the financial markets.The reforms announced in the Union Budget including increased investment limit for foreign portfolio investors exempting investments in initial public offerings of corporates from capital gains tax and the proposal to set up a clearing corporation for the debt markets are expected to directly benefit the capital markets.The company plans to start FUTURE AND OPTIONS trading activity and the application to start the operations have already been filed with SEBI.