Avonmore Capital & Management Services Ltd

A CategoryI Merchant Banker, Avonmore Capital Management Services Ltd was incorporated Ashtan Capital and Management Services Pvt Ltd. in September 1991. The Company was converted into a Public Limited Company in May92 and its name got changed to Allianz Caoital Manaaement Services Ltd in Nov.92. Later on, name of the Company was again changed to Almondz Capital Management Services Limited in January 2007 and thereafter to Avonmore Capital Management Services Limited in 2013.The Company registered with the Reserve Bank of India (RBI) on October 7, 2008 as a non deposit accepting nonbanking financial corporation (NBFC) and is involved in providing loans and advances to corporations as well as subbroker advisory services. The company, being an integrated financial services, was promoted by Ashwajit Singh. It provides a host of financial services like leasing, bill discounting, intercorporate deposits, merchant banking, project advisory, corporate recruitment services and systems design and study. The Company obtained OTC dealership and is a Principal Member of the NSE.In 2007, Company acquired 75,10,000 Equity Shares of Almondz Capital Markets Private Limited and consequently, it became the Holding Company w.e.f. 30th March, 2007 by holding 72.43% Equity Shares of the Company. Almondz Capital Markets Private Limited had its wholly owned subsidiary in the name of Almondz Commodities Private Limited which in turn became subsidiary of the Company. During the year 200708, Company had subscribed 10205000 Equity Shares of erstwhile Almondz Capital Markets Pvt. Ltd., a Company promoted by the Group, which was engaged into stock broking business. Almondz Capital Markets Pvt. Ltd., got amalgamated with one of the Group Company, Almondz Global Securities Ltd. Consequent to the amalgamation, Almondz Global Securities Limited therefore ceased to be the subsidiary of the Company. Almondz Commodities Private Limited which was subsidiary of Almondz Capital Markets Private Limited also ceased to be subsidiary of the Company, consequent upon merger of Almondz Capital Markets Private Limited. As a result of this, the Company got 3401667 Equity Shares in the ratio of 1 Equity Share for every 3 Equity Shares held in the erstwhile Company. North Square Projects Pvt. Ltd. ceased to be the subsidiary of the Company w.e.f. June 01, 2014 on account of sale of entire share capital of North Square Projects Pvt. Ltd.During the year 201314, Apricot Infosoft Pvt. Ltd was made subsidiary effective 10.06.2014 Shivsathi Niketan Ltd effective from 14.05.2014 and Avonmore Developers Pvt. Ltd. w.e.f. 23.07.2014. During the period 201415, Almondz Global Securities Limited and Red Solutions Private Limited became subsidiaries of the Company w.e.f 01.042015 and 17.07.2015 respectively.During the period 201516, Express Infra Financial Consultancy Private Limited ceased to be subsidiary of the Company effective from 17th August, 2015. Almondz Reinsurance Brokers Private Limited (ARBPL) which was a subsidiary of Almondz Insurance Brokers Private Limited (AIBPL) was merged with holding company AIBPL effective 22 December 2015 and Almondz Insurance Brokers Private Limited ceased to be subsidiary of the Company w.e.f. 06.07.2017. The Company has acquired 51% stake in TRP Social Consultants Private Limited and it became a subsidiary of the Company w.e.f. June 15, 2018.During the year 201819, SKTK Projects Limited (formerly known as Shivsathi Niketan Limited), Latitude 23 Communications Limitedand TRP Social Consultants Limited ceased to be subsidiaries of the Company w.e.f. 1.10.2018, 01.01.2019 19.03.2019 respectively. Carya Chemicals Fertilizers Private Limited and Yug Infrastructures Private Limited ceased to be associates of Company w.e.f. 22.03.2019.During the year 202223, Willis Towers Watson India Insurance Brokers Private Limited ceased to be associates of the Company effective from 08.04.2022.