The Company is a Public Limited Company and was formerly known as “The Andhra Bank Ltd.” Consequent to nationalization of the Andhra Bank on 15.04.1980, the Company’s name was changed to Lakshmi Finance & Industrial Corporation Limited and since then the Company was involved in Financial activities
(Leasing, Hire Purchase, Bill discounting, Corporate Finance etc.,) and for some time (i.e. 1988 to 2002) in the manufacturing field (Manufacturers of PET containers and Injection Moulded Components). Since the market conditions became less attractive and also there were no suitable borrowers for money lending for NBFC activities from 1995 onwards, because of various scams that shocked the financial markets and consequent regulatory requirements affected the Company’s NBFC operations, on account of which the market environment was not conducive for NBFC activities. Hence, for the past few years, the Company was mainly carrying on the business of investments in Equity shares and mutual funds. Further, the major portion of the funds are in the nature of investments either in the shares or mutual funds.
With regard to the NBFC Registration, the Reserve Bank of India in exercise of the powers conferred on it by section 451A of the Reserve Bank of India Act 1934 has granted a Certificate of Registration No.09-00239 on 9th Day of December, 1998 as “Non-Banking Financial Institution”. Later, in the year 2002 the Company repaid entire deposits and further based on the Company’s financial activity/position, Reserve Bank of India, issued a certificate of registration dt: 26th day of February, 2002 to carry on the business of “Non-Banking Financial Institution without accepting public deposits”.
The Company is a dividend paying Company since 1982 and issued Bonus shares in 1992, 1996 and 2009 and was listed in Hyderabad Stock Exchange till about the year 2006. Later, as Hyderabad Stock Exchange was de-recognised and the Company continued it’s listing at Madras Stock Exchange. Thereafter, SEBI has saught valuntary surrender of recognition of Madras Stock Exchange based on the then guidelines and exited before the deadline of 30th May’ 2014. At the same time, the Company made an application to National Stock Exchange of India (NSE) for listing of the Company Shares. After complying with the Listing requirements of NSE, the Company shares were listed on NSE with effect from 15.04.2015, with Company ISIN Code in NSDL & CDSL : INE850E01012 and Company’s Stock Code ‘LFIC’.