History
Sterling Guaranty & Finance Limited was originally incorporated as Sterling Lease Finance Ltd. It is promoted by Dhiren D. Mehta & Associates. Company obtained certificate of commencement of business on 2nd January 1984. Sterling came out with an initial public issue of 15,00,000 equity shares of Rs.10/- each for cash at par which was fully subscribed on 30th July 1984. It is listed in Bombay Stock Exchange. Sterling Guaranty & Finance Ltd promoted Sterling Financial Services to become member of National Stock Exchange and OTC exchange of India.
- 1983: The Company was originally incorporated as Sterling Lease Finance Limited and was promoted by Dhiren D. Mehta, a Chartered Accountant of repute. He continues to guide the Company as Chairman.
- 1984: Received certificate of commencement of Business on 2nd January 1984. The Company made public issue of Rs. 15 Million by issuing 15 lac equity shares of Rs. 10/- each for cash at par with Canara Bank as Merchant Banker. Shares were listed in Bombay and Ahmadabad Stock Exchanges. Later shares were delisted in 2009 From Ahmedabad Stock Exchange. Script No.508963.
- 1991: The Company promoted Sterling Financial Services Ltd. now named as Indistock Securities Ltd. became members of National Stock Exchange and Sponsor member of OTC Exchange of India. It is an active member of NSE in all trading segments.
- 1994: The Securities & Exchange Board of India registered Sterling Guaranty as a Cat.1 Merchant Bank. The Company helped about 25 companies to be listed.
- 1995: The Company made 2nd IPO of Rs.52.5 Million by issuing 2.7 Million equity shares of Rs. 10/- each at a premium of Rs. 5/- per share to the public and 0.80 Million shares to the promoters. Public IPO was oversubscribed by 7 times. The issue was lead managed by SBI Capital Markets Ltd. and the Industrial Finance Corporation India Ltd.
- 1999: The Company obtained certificate of Registration Sr. No. 1301229 from Reserve Bank of India to carry on the business of Non-Banking Financial Institution. However at present it does not do any NBFC Business.
- 2002-2004: The Company became debt free of Public and Bank Finance. All charges of the Assets stood closed.
- 2016: The Company recommenced business operations.
- 2018: The Company voluntarily surrendered its CoR as NBFC to RBI on 4th April 2018. The Company moved to do other business. At present the company doesn’t have any public debt or loan pending and don’t have any NBFC exposure. The Company has changed the object clause in the Memorandum of Association and Articles of Association to do business of dealing in Securities and Stressed Assets. The Company has also amended Articles relating to right of appointment of four Directors by its Promoter.
