02-02-2013, 04:51 PM
Fortune Financial Services (India) Limited
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INTRODUCTION
Fortune Financial Services (India) Limited was incorporated in the year 1991 by Mr. J. T. Poonja, Chairman and Mr.Nimish C Shah, Vice Chairman and Managing Director. Fortune Group which comprises the holding company Fortune Financial Services (India) Limited and its wholly-owned subsidiaries, is engaged in providing a range of Financial Services right from Equities and Derivatives trading, Equity Research, Commodities Trading, Portfolio Management Services, Distribution of Mutual Funds, IPO & Insurance products and also Investment Banking Services.
The main activities of the company are conducted through Fortune Financial Services which is also the holding company & its wholly owned subsidiaries. A brief snapshot of all the companies is outlined as under.
• M/s. Fortune Financial Services (India) Ltd.
M/s. Fortune Financial Services (India) Ltd. is listed on the Bombay Stock Exchange Ltd and is SEBI registered Category I Merchant Banker. It has recently got approval from SEBI to launch its Portfolio Management Services (PMS). FFSIL has four business verticals viz. Fortune Equity Brokers (India) Limited, Fortune Commodities & Derivatives (India) Ltd., Fortune Credit Capital Ltd. and Fortune Financial India Insurance Brokers Limited.
• M/s. Fortune Equity Brokers (India) Ltd.
M/s. Fortune Equity Brokers (India) Ltd. is 100% subsidiary company of M/s. Fortune Financial Services (India) Ltd. It offers broking services in the Cash and Future & Option Segments of the National Stock Exchange of India Ltd and the Bombay Stock Exchange Limited. It is also a Depository Participant of Central Depository Services (India) Ltd
• M/s. Fortune Commodities & Derivatives (India) Ltd.
M/s. Fortune Commodities & Derivatives (India) Ltd. is subsidiary company of M/s. Fortune Financial Services (India) Ltd. and engaged in the business of commodities broking. It is having memberships with the MCX and NCDEX, two leading Indian Commodities Exchanges.
• M/s. Fortune Credit Capital Ltd.
Fortune Credit Capital Ltd. is 100% subsidiary company of M/s. Fortune Financial Services Ltd. It is formed for the purpose of financing, lending to the clients. The Company has received license from RBI for NBFC operations.
• M/s. Fortune Financial India Insurance Brokers Limited.
M/s. Fortune Financial India Insurance Brokers Limited is 100% subsidiary company of Fortune Financial India Insurance Brokers Limited and formed for the purpose of providing insurance broking and related products and services.
IPO – ADVANTAGES AND DISADVANTAGES:
The decision to take a company public in the form of an initial public offering (IPO) should not be considered lightly. There are several advantages and disadvantages to being a public company, which should thoroughly be considered. This memorandum will discuss the advantages and disadvantages of conducting an IPO and will briefly discuss the steps to be taken to register an offering for sale to the public. The purpose of this memorandum is to provide a thumbnail sketch of the process. The reader should understand that the process is very time consuming and complicated and companies should undertake this process only after serious consideration of the advantages and disadvantages and discussions with qualified advisors.