Maha Rashtra Apex Corporation Ltd (MAHAPEXLTD)

Maha Rashtra Apex Corporation MACL was incorporated as a banking company in Apr.43 in the name of Maharashtra Apex Bank. Later in 1955 the branches were transferred to Canara Industrial and Banking Syndicate. The company was converted into a hirepurchase company and changed its name to the present one. It was promoted by the late Upendra Anantha Pai. T Ramesh U Pai is the Chairman of MACL and T Sudhakar Pai is the Managing Director. The group companies are ICDS Manipal Finance Corporation Canara Steel and Karnataka Consumer Products. The company came out with a rights issue of 42.55 shares at a premium of Rs 5/ with detachable warrants to consolidate its capital base and further augment its longterm resources and to broadbase and expand public holdings. The main activities of the company are lease and hire purchase automobile financing bill discounting corporate finance etc. The company plans to diversify into merchant banking OTCEI dealership stock exchange membership money changing business mutual funds etc. With respect to diversification and expansion MACL has promoted Manipal Home Finance for housing finance Manipal Share and Stock Brokers and Manipal Motors. It is also diversifying into telecom and cellular telephone services. In 1971 a company called General Investments Trusts was amalgamated with the company. In 199596 the company issued 3214260 warrants to the promoters of the company on preferential basis. These warrants were converted into equity shares and allotted in Nov.95. Its subsidiary Karnataka Consumer Products changed its name to Kurlon during the year.During the year 19992000 the company diversified its activities and taking up the retail sale of almost all top mutual funds and has a strong network of around 100 branches. The company also tookup the agency of Western Union a reputed US Company which specialises in offering quick and efficient Money Transfer Service from abroad. It has tiedup with M/s Citicorp Finance India Ltd for doing business in Light and Heavy Commercial Vehicles and also with leading Amercian NBFC Associates to canvass business for them on commission basis.With a move to diversify the company had taken up the Marketing of Mutual Funds of reputed brands and also ventured into retail marketing of gold coins.

Maha Rashtra Apex Corporation Ltd Share Price: ₹93.70 per share as on 23 Mar, 2023 04:01 PM
Maha Rashtra Apex Corporation Ltd Market Capitalisation: ₹154.73Cr as of today
Maha Rashtra Apex Corporation Ltd Revenue: ₹1.44Cr as on December 2022 (Q4 22)
Maha Rashtra Apex Corporation Ltd Net Profit: ₹0.39Cr as on December 2022 (Q4 22)
Maha Rashtra Apex Corporation Ltd Listing date: 05 Sep, 1991
Maha Rashtra Apex Corporation Ltd Chairperson Name: K B Shetty