AKCAPITAL SERVICES LTD
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BSE Code:
530499
NSE Code:
AKCAPIT
Business Profile
Business Profile
AK Capital Services (ACASERVI), the flagship company of the AK group, is engaged in core areas of the Indian financial markets. It was incorporated in 1993.
The company`s portfolio of services consists of private placements, initial public offering (IPO) management, debt trading, mutual fund distribution, project finance and loan syndication, structured finance and venture capital funds. It is one of India`s leading merchant banker for debt syndication through private placement/public issues and for management consultancy, advisory services, investment advisory, financial restructuring and other services.
The company has also undertaken debt programs for companies such as Food Corporation of India, Indian Oil Corporation and Airport Authority of India among others. The company has been ranked the no.1 arranger of debt through private placement route by Prime Database for three consecutive years 2004-2005, 2003-2004 and 2002-2003. The company won IFR Asia`s India Bond Award for 2006 for UCO Bank`s Rs 1.5 billion perpetual bond issuance. AK Stockmarket is the company`s wholly-owned subsidiary.
AK Capital has a network of professionally managed offices at all metros and major sub-metros of the country including Mumbai, New Delhi, Bangalore, Kolkata, Hyderabad, Chennai, Ahmedabad, Pune and Coimbatore. In addition, it has a franchisee network of over 400 locations through brokers, sub-brokers, syndicate and sub-syndicate members spread across country. The company services various central and state government undertakings, private and nationalized banks, financial institutions and private corporates. Clients include Jindal, Mahindra, Canara Bank, UCO Bank, BSNL and GAIL among others.
The registered office of the company is located at Flat No.N, Sagar Apartments 6, Tilak Marg, New Delhi-110001.
Financials
AK Capital Services registered a profit of Rs 56.47 million for the quarter ended September 2007.
It recorded a net sales of Rs 170.68 million for the quarter.
Total income was Rs 170.68 million for the quarter ended September 2007.
The diluted earnings per share (EPS) of the company stood at Rs 11.29 for the quarter ended September 2007.
Recent Developments
01-OCT-07
The shareholders approved the issue and allotment of 3,000,000 convertible warrants on preferential basis at Rs 225 to the promoter group and others, and offer, issue and allot on preferential basis 800,000 fully paid-up equity shares of Rs 10 each of the company to FirstRand (Ireland) Plc, Ireland at a premium of Rs 215 per equity share.
28-JUL-07
On July 28, 2007, the board of directors took on record the investment in AK Stockmart, a wholly-owned subsidiary, upto an amount of Rs 50,000,000.
06-FEB-07
The company has won IFR Asia's India Bond Award for 2006 for UCO Bank's Rs 1.5 billion perpetual bond issuance. The award was presented to the company on February 5, 2007 in Hongkong for structuring and placement of India's first perpetual bond issuance from UCO Bank in March 2006.
30-JAN-07
On January 27, 2007, the board of directors resolved to acquire the balance 6,000 equity shares of Rs 10 each representing 60% of paid up equity capital of AK Capital Retail and accordingly, the said company will become a 100% subsidiary in due course.
29-JAN-07
The company has made an additional investment of Rs 20,900,000 by subscribing to 2,090,000 equity shares of Rs 10/- each in AK Capital Corporation, which is in the process of registering itself as NBFC.
16-JAN-07
On January 16, 2007, the shareholders passed the following resolutions:1. To purchase 30,000 shares of Rs 10 each of AK Wealth Management and make it a wholly-owned subsidiary.2. To invest in AK Capital Corporation by purchasing 10,000 shares of Rs 10 each amounting to Rs 100,000 and make the company a wholly-owned subsidiary.3. To convert AK Commodities into a wholly-owned subsidiary by purchasing its 12,000 shares of Rs 10 each amounting to Rs 120,000.
12-JAN-07
With reference to the earlier announcement dated December 18, 2006 regarding private placement of Rs 2,000 million unsecured redeemable non-convertible subordinated tier-II bonds for the Federal Bank, AK Capital Services has clarified that the issue was successfully syndicated by AK Capital as arranger along with another lead arranger well within the specified time schedule despite volatile market conditions due to the announcement of hike in CRR by RBI on December 8, 2006 by 50 basis points.
19-DEC-06
The company made an additional investment of Rs 39,100,000 by subscribing to 3,910,000 equity shares of Rs 10 each, in its wholly-owned subsidiary, AK Stockmart, which is in the process of starting its business in stock broking.
18-DEC-06
The successfully raised Rs 2,000 million unsecured redeemable non-convertible subordinated tier-II bonds for the Federal Bank through private placement route. Earlier in November, it had raised Rs 2,000 million unsecured non-convertible subordinated perpetual bonds for State Bank of Travancore through private placement route.