NON-RESIDENT INDIAN FINANCIAL CONSISTENCY SERVICES

SERVING NRI'S FROM USA, CANADA AND UK SINCE 1981

NIFCO was started by Mr. Harish M. Mehta who himself was an NRI for over 22 years. Mr. Mehta lived in USA from 1962 to 1986. NIFCO was started in 1981 and NIFCO was insturmental in convincing the RBI and Indian Marchan Bnakers to look for NRI funds with repatriationrights. Since early days of Financial Liberalisation NIFCO has been No. 1 in advising Indian Companies to raise Money from the NRI and at the same time offering the NRIs to ONLY Quality investment proposals.

The first company NIFCO advised was TELCO. In 1981 TELCO became the first company to raise money from the NRIs for it’s 13.00 Crore issue. Incidently the amount of Rs. 13.00 Crore was the highest amount ever sought from the capital market till that day. NIFCO was instrumental in providing arguments to be presented to the RBI, as to why the NRIs should be allowed to invest in India. As a result the TELCO was allowed to procure funds from the NRIs with Repatriation Rights. Thereafter, seeing the opportunity for NRIs to invest in India, NIFCO was established in 1982 to help NRIs to attain their objectives and goals in India and to provide the need for investment related services to the NRIs.

NIFCO has carved a niche in NRI issue marketing and particulalry of USA and have maintained it's leadership in USA NRI area.

NIFCO, is involved in fund raising from American NRIs on behalf of Indian Companies. NIFCO specializes in the American market mainly due to my strong ties with NRIs from my over 20 years of residency in the USA. NIFCO now offers complete NRI investment related services to its clients.

In the public issues of Indian companies in which American NRI participation was involved, the contribution from USA increased significantly upon NIFCO's involvement. The reasons for significant NRI investment from the United States directly related to NIFCO's involvement are given below:

The number of NRIs who have invested in Indian companies through NIFCO, over the years has steadily grown and now it stands at over 10,000 clients. Out of 10,000 clients over 3500 are Physicians.NIFCO maintains database on the clients investments. The market value of NIFCO's NRI clients stands in excess of Rs. 80.00 Crores.

Involved in raising funds from NRIs and particularly from USA NRIs. Prepared arguments for RBI's review as to why NRIs should be allowed to invest in India, during the planning stage of the issue for TELCO.

Represented the major merchant bankers for promotion of TELCO, GNFC, TATA POWER CO, INDIAN RAYON, INDIA GLYCOL AND INDIAN CHARGE CHROME ISSUES.

Represented the companies for their issues, such as DEEPAK FERTILIZER'S initial issue, RELIANCE INDUSTRIES'S 'F' Series issue, INDOGULF FERTILIZERS issue and Cement Corporation of Gujarat's Issue.

Acted as an advisor to the NRI issue for the MEGA issue of DEEPAK FERTILIZERS, of Rs. 218.00 Crores out which NRI quota WAS Rs. 26.00 Crores.

Acted as Coordinator of NRI issue of Mangalore Refinery, CORE Parenterals Ltd.,1993. Acted as an Advisor for Sterling Gujarat Hospital at Ahmedabad.

When NIFCO got involved to raise funds, NIFCO's procurement was the top 2 or 3 amongst all the Merchant Bankers/Brokers.

NIFCO'S PROCUREMENT IN PUBLIC ISSUE.