Aryaman Financial Services has incorporated a wholly owned subsidiary in the name of ‘Aryaman Finance (India)’. The company has made an additional infusion of capital into the said subsidiary to fulfill the regulatory requirements stipulated under the provisions of the Reserve Bank of India Act, 1934, in order to enable the commencement of business operations within the Non-Banking Financial Company (NBFC) sector. Aryaman Finance (India) has allotted 1,04,00,000 (One Crore Four Lakh only) equity shares of Rs 10 each to the company for an amount aggregating to Rs 10.40 crore for a cash consideration.
The objective behind the incorporation of subsidiary is to carry on financing, money lending, and loan business, providing secured and unsecured loans to individuals, firms, and corporates; to offer various financial services, including bill discounting, factoring, and guarantees, while excluding banking business as per the Banking Regulation Act, 1949.
Aryaman Financial Services deals mainly in merchant banking activities like issue management, portfolio management services, and corporate debt restructuring.
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