ICDS Limited was incorporated in October, 1971 and was registered as a Non-Banking Financial Company (NBFC). The Company is presently concentrating on the recovery of its dues and repaying its liabilities and is also engaged in trading activities of shares and securities, mobiles and accessories, rental revenue from investment properties, marketing of the insurance products of life and general insurance companies. The Company is diversifying into more fee based activities.
The flagship of the once undivided Pai group, ICDS has now come under the fold of Mohandas Pai, with Ramesh Pai having transferred his share to the Mohandas Pai group in 1995, the silver jubilee year. Over the past 25 years, the company has built a strong base. Formed to succeed Syndicate Bank, after the latter's nationalisation, ICDS comes from very good stock. Its sheer size, strength and expertise have led ICDS to become a group on its own, providing guidance and direction to other finance companies.
ICDS, enjoying one of the highest net accruals of deposits, has crossed Rs 368 cr. It has a country-wide network of 42 branches, supported by several resident representative offices, bringing the services of the company to the doorstep of the investors.
Bank and institutional funding to the tune of Rs 75 cr and total disbursals under the hire purchase and leasing schemes exceeding Rs 500 cr are some of the factors which indicate the confidence enjoyed by the company among banks and financial institu ...tions. It is one of the few finance companies to get loans worth US $ 10 mln.
ICDS has diversed into the hospitality industry with the launch of Central Park in Bangalore, the first among a chain of hotels. The company has branches at Gurgaon in Haryana, Puttur, Belthangady, Honavar, Sullia, Byndoor Nellor in Andhra Pradesh, Bhrahmavar, Davangere and Kumta in Karnataka and performance of these branches are satisfactory.
Manipal Investments Ltd amalgamanted with the company with effect from 1st April 1997 and its assets and liabilities are vested in the company at their book value for the 9 months ended 31.12.97.
The company has entered into an agreement with Wall Street Finance Ltd., a group company of House of Patels to act as an agent for their 'Wall Street Instant Cash'. The money transfer facility through electronic media has started in 5 branches in February 2001.
During the year 2000-01, 16,66,700 equity shares of Rs.10/- each at a premium of Rs.20/- per share of the company were issued on Preferential basis to select persons and hence the capital of the company increased from Rs.1136 lakhs to Rs.1302.67. Further infusion of capital of Rs.500 lakhs is being explored.
The Company had filed the Scheme of Arrangement during August 2002, and stopped its fund based business and surrendered its Certificate of Registration as Non-Banking Finance Company to RBI.
FAQs on ICDS Ltd
1. Can I buy ICDS Ltd from PL Capital? ›
Yes, you can invest in ICDS Ltd shares directly through PL Capital. Our platform provides a seamless and secure way to buy, hold, and track ICDS Ltd stock along with other leading companies listed on the NSE and BSE. Simply open a Demat and trading account with PL Capital, and you’ll be able to trade ICDS Ltd as well as diversify your portfolio across equities, mutual funds, IPOs, and more.
2. Does ICDS Ltd pay dividends? ›
ICDS Ltd does not currently pay dividends. Investors in this case primarily benefit from capital appreciation, where the value of the stock may rise over time depending on business growth and market conditions.
3. What is the current share price of ICDS Ltd ? ›
As of
01-Jan-1980 , 00:00:00 the share price for ICDS Ltd. is ₹ 44.71 on the NSE (Note: Prices are dynamic and update frequently during market hours).
4. What is the 52-week high and low of ICDS Ltd ? ›
The 52-week high and low of ICDS Ltd share price is ₹ - ₹ as of
01-Jan-1980 , 00:00:00 .
