| YEAR EVENTS
1985 - The Company was Incorporated as Alpha Financial Advisory Serives
Ltd. on 21st August. The Company was promoted by V.B. Desai,
J.R. Shroff and Manoj Dhupelia. The name was changed to V.B.
Desai Financial Services Ltd. on 27th September.
- The Company's object is Direct financing, consultancy and
investment.
1986 - 70 No. of equity shares subscribed for by the subscribers to the
Memorandum of Association. 9,99,930 No. of equity shares then
issued at par of which 3,99,930 No. of equity shares were
reserved and allotted on a firm basis to the promoters, directors
their friends, relatives and associates (all were taken up), the
balance of 6,00,000 No. of equity shares offered for public
subscription (all were taken up). Additional 2,50,000 No. of
equity shares allotted to retain oversubscription (1,00,000
shares to promoters and 1,50,000 shares to public).
1989 - During March, the Company offered 3,00,000 - 14% secured
non-convertible debentures of Rs.100 each for cash at par to the
existing shareholders on rights basis in the ratio of 24
debentures : 100 No. of equity shares.
- These debentures were to be redeemed at the end of 6th, 7th and
8th year from the date of allotment.
- The Company issued 12,50,000 Rights equity shares of Rs.10 each
for cash at a prem. of Rs.15 per share on Rights basis in prop.
1:1. Another 12,50,000 No. of equity shares of Rs.10 each at a
prem. of Rs.15 per share were issued to the shareholders on
preferential basis.
1994 - The Company offered equity shares in exchange of Non-convertible
debentures held by debentureholders. 8,00,000 No. of equity
shares of Rs.10 each at a prem. of Rs.40 per share on 30th
September in exchange of 4,00,000 - 14% Non-convertible debenture
of Rs.100 each. The ratio of offer was 1 debenture : 2 equity
shares of Rs.10 each held at a prem. of Rs.40 per share.
- Those non-convertible debentureholders who do not opt for such
exchange at their option may get their debentures repurchased by
the company.
- Budh Holdings & Trading Co. Pvt. Ltd. and Grant Holding & Trading
Co. Ltd. are subsidiary of the Company.
1995 - Authorised capital increased. 25,00,000 No. of equity shares
issued on rights and preferential basis to the existing
shareholders. 3,800 shares kept in abeyance. 8,00,000 shares
issued to conversion of NCDs.
2008
-The company has designated E-mail ID for Investors Complaints: investor@vbdesai.com.
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