Summit Securities Ltd Share Price

History of Summit Securities Ltd

Summit Securities Limited, a public limited Company was listed on BSE Limited and National Stock Exchange of India Limited. The Company is a Non-Deposit taking Systemically Important Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India and is engaged in the business of making investments in shares and securities. Summit Securities Limited, earlier known as KEC Infrastructures Limited, a group company of RPG Enterprises was originally incorporated in 1945. Entering into a Scheme of Arrangement effective December 26, 2005, the company transferred its power transmission business to KEC International and got its current name on January 09, 2006. The company entered into a memorandum of understanding with the Neptune group and sold its immovable property situate ...d in Kurla, Mumbai for Rs 912,222,000 to Neptune Realtors in February 2007. As of March 31, 2011, the Company had two subsidiaries, Instant Holdings Limited and Sudarshan Electronics & T. V. Limited and two step down subsidiaries, including Idea Tracom Private Limited and Goodhope Sales Private Limited, being the wholly owned subsidiaries of Instant Holdings Limited. The companys assets consists mainly of land in Mumbai and investments in its subsidiary KEC Holdings. The company also has investments in various companies like CEAT, RPG, Harrisons Malyalam and others. During FY 2011-12, the Company became a subsidiary of Swallow Associates Limited, as a result of merger of Blue Niles Holdings Limited, Kestrel Investments Limited, Petrochem International Limited, RPG Cellular Investments and Holdings Private Limited, South Asia Electricity Holdings Limited with Swallow Associates Limited through Scheme of Amalgamation and Arrangement sanctioned by the Hon'ble High Court of Judicature at Bombay on February 10, 2012, which was made effective on March 27, 2012 as December 1, 2011, the Appointed date. As on March 31, 2012, the Company had two subsidiaries viz. Instant Holdings Limited and Sudarshan Electronics & T. V. Limited. During the year 2011-12, a Scheme of Amalgamation for merger of Idea Tracom Private Limited (wholly owned subsidiary of Instant Holdings Limited) and Goodhope Sales Private Limited (wholly owned subsidiary of Instant Holdings Limited) with Instant Holdings Limited was approved by the High Court of Judicature at Bombay on April 13, 2012, which became effective on May 15, 2012. Sudarshan Electronics & T.V. Limited ceased to be a subsidiary of the Company with effect from March 5, 2013. During 2013-14, the Company acquired equity shares of Instant Holdings Limited through subscription of Rights Issue and subsequent to subscription, allotted 1,12,750 equity shares of face value of Rs 10/- each at a premium of Rs 770/- per share on September 16, 2013.