Integrated Capital Services Share price and Fundamental Analysis

Company History

Integrated Capital Services Limited is a public company incorporated on 3rd February 1993. The Company is primarily engaged in Corporate Advisory & Consulting, Expert Services in Turnaround & Restructuring, Business Combinations, Takeovers, Mergers & Amalgamations and Accounting Services. As in March 2019, the company is under change to Services in the nature of Insolvency Professional Entity.

During the year 2015, the Company redeemed 1,05,000 7% Cumulative, Non Convertible and Redeemable Preference Shares of Rs. 100/- each, at par, upon the holder of such shares exercising options to put the same for redemption.

The Company applied to the Bombay Stock Exchange (BSE) for listing of equity shares for trading thereat. BSE has granted 'In Principle' approval for listing of the Company's equity shares on BSE vide its letter dated March 20, 2015.

During the year 2015, the Company availed the membership of (i) The Institute of Internal Auditors (IIA) and (ii) BTG Global Advisory Limited (a Company incorporated in England and Wales).

The Company's equity shares were listed on Delhi Exchange Ltd., Jaipur Stock Exchange Ltd. and Madras Stock Exchange. The Securities Exchange Board of India (SEBI) had withdrawn recognition of Delhi Stock Exchange Ltd. on November 19, 2014 and allowed Jaipur Stock Exchange Ltd. and Madras Stock Exchange Ltd. to exit as a Stock Exchange on March 23, 2015 and May 14, 2015 in terms of Clause 8 of the Exit Circular, 2012.

During the year 2015-16, the equity shares of the Company were approved for trading at the Bombay Stock Exchange vide its communication dated 25 May, 2015, and were traded at the Exchange with effect from even date.During the year 2016, the Company was admitted as member of The Institute of Internal Auditors (IIA).

During the year 2016, the Company redeemed 30,00,000 7% Cumulative, Non Convertible and Redeemable Preference Shares of Rs. 100 each, at par, upon the holder of such shares exercising put option for redemption.During the year 2016-17, the Company redeemed 90,000 7% Cumulative, Non Convertible and Redeemable Preference Shares of Rs. 100 each, at par, upon the holder of such shares exercising options to put the same for redemption.

A Scheme of Arrangement in the nature of Merger of Deora Associates Private Limited, a 69.27% holding company of the Company, was approved by Board with Appointed Date October 1, 2016, which was filed with Bombay Stock Exchange for their perusal and seeking No Objection' to the same. The rationales of the Scheme of Merger are:

(i) To restructure shareholding pattern of the Company, which is currently held by Deora Associates Private Limited as one of the promoters. (ii) To eliminate a layer of promoter investment and streamline promoter holding.(iii) To vest shareholding of the Company in name of promoters of Deora Associates Private Limited.

The Company executed a Preferred Business Affiliate Agreement with Aurum Equity Partners LLP on September 24, 2017. Aurum is an Indian Investment Banking Firm having core competency in areas of Mergers and Acquisitions, Fund Raising, Strategic Corporate Advisory, Restructurings and Insolvency Resolution across a wide range of sectors including Industrials, Technology & Media, Consumer Food & Retail, Real Estate & Hospitality, Supply Chain & Logistics, Education, Healthcare and Pharmaceuticals and BFSI.

In FY17-18, the Company promoted a wholly owned subsidiary, BTG IP Services Private Limited, to exclusively provide service and advise to clients under the provisions of the Insolvency and Bankruptcy Code, 2016.

During the year 2017-18, the Company redeemed 45,000 7% Cumulative, Non Convertible and Redeemable Preference Shares of Rs. 100 each, at par, upon the holder of such shares exercising options to put the same for redemption.

During the year 2018-19, the Main Objects of the Company were changed in pursuance of Special Resolution passed by shareholders in the Annual General Meeting (AGM) held on September 29, 2018 to undertake rendering services as an Insolvency Professional Entity (IPE) in accordance with the provisions of Insolvency and Bankruptcy Code, 2016.

During the year 2018-19, the Holding Company, Deora Associates Private Limited (since dissolved), had merged into the Company. In terms of Scheme of Merger approved by the Hon'ble National Company Law Tribunal, New Delhi vide order dated September 26, 2018, 2,50,41,000 Equity Shares of Re.1 each held by Deora Associates Private Limited (Since Dissolved), in the Company were cancelled and 2,44,75,000 fully paid equity shares of the Company were issued to the shareholders of Deora Associates Private Limited (Since Dissolved) in the share exchange ratio provided in the aforesaid scheme. The Scheme of Merger of DAPL (since dissolved) with the Company became effective from the Appointed Date, i.e. October 01, 2016.

During the year 2019, pursuant to de-recognition order received from Insolvency Bankruptcy Board of India (IBBI), the company changed its object to provide management consultancy related services and thereafter changed its name to ICSL Consulting Private Limited.

In FY19, the company's subsidiary, Greenway Advisors Private Limited promoted a Company along with Borrelli Walsh Limited of Hong Kong to render services in areas of business and operational reviews, stabilising companies in crisis through restructuring under performing business lines, advising clients on improving Company's performance and assist Board of Directors of the Companies with conduct of its distressed affairs and establish the options available to companies and their stakeholders under the name and style of Borrelli Walsh India Private Limited. The Company has received the incorporation certificate on June 17, 2019 from Ministry of Corporate Affairs (MCA). Greenway Advisors Private Limited holds 20% of the share capital of Borrelli Walsh India Private Limited.