India Cements Capital Share Price

India Cements Capital Limited (ICCL) was initially incorporated as Aruna Sugars Finance Limited on November 8, 1985 and is RBI registered Authorized Dealer (CategoryII) from Reserve Bank of India, for money changing services which includes selling and buying of Foreign Exchange in retail as well as wholesale to individuals and corporate clients. The name of the Company was changed from Aruna Sugars Finance Limited to India Cements Capital Finance Limited and later on changed to India Cements Capital Limited dated 29 November 2006. Further the Company is eligible to make outward remittances for overseas education, medical treatment abroad and other permissible purposes. It is also one of the Agents of overseas money transfer entities for international inbound money transfer business. In money changing, it includes the buying and selling of foreign currency notes and outward telegraphic remittances, including outbound remittances towards student fees, tour remittances etc. and also extends to forex prepaid cards. The companys offices are at Madras, Bombay, Namakkal, Trichy, Coimbatore, Madurai and Salem. It opened branches in Bangalore, Cochin Delhi. The fixed deposit programme of the company which was first rated FA by CRISIL in 199192 was upgraded to FAA shortly. In 2006, the Company hived off the Bank Liabilities and the related fund based asset to a Special Purpose vehicle (SPV) viz Unique Receivable Management Private Limited. It converted the subsidiary, Coromandel Insurance Services Limited as a SPV. ICCL is one of the associate companies of The India Cements Limited till 27 July, 2024. The Company is into money changing services, also extends advisory services on forex market to exporters and importers, under the brand name of Midas Advisory and extending comprehensive travel related services like ticketing, hotel bookings, visa processing, etc.The India Cements Limited is a professionally managed company headed by the Promoter, Mr.N. Srinivasan. With cement plants in eight locations, the Company pioneered as the number one player in the Indian Market. The Company tied up with Mecklai Mecklai, Bombay forex brokers, to manage their broking activities in Madras, for which it entitled to a management fee of 50% of the net profits of the branch. The Company had applied to SEBI to become a categoryI merchant banker. The approval from SEBI enabled it to manage public issues and undertake underwriting, portfolio management, etc.