Amanaya Ventures Ltd Share Price

Amanaya Ventures was originally incorporated as Amanaya Financial Services Private Limited on February 27, 2009 under the Companies Act, 1956 vide certificate of incorporation issued by the Deputy Registrar of Companies, Punjab, Himachal Pradesh, and Chandigarh. Subsequently the name of the company was changed from “Amanaya Financial Services Private Limited” to “Amanaya Ventures Private Limited” under the Companies Act, 2013 pursuant to a special resolution passed by its shareholders at the Extraordinary General Meeting held on September 14, 2015 and had obtained fresh certificate of incorporation dated September 16, 2015 issued by the Assistant Registrar of Companies, Chandigarh. Subsequently, the company was converted into a Public Limited Company pursuant to Special Resolution passed by the shareholders at the Extraordinary General Meeting dated October 09, 2015 and the name of the company was changed to “Amanaya Ventures Limited” to reflect the legal status of the company pursuant to conversion, a fresh certificate of incorporation was granted by the Assistant Registrar of Companies, Chandigarh dated October 15, 2015.

The company has completed its amalgamation with its associate company i.e. Midland Services Limited in the F.Y. 2019-20. The amalgamation of the Midland Services Limited into the company inter-alia resulted in the alignment of businesses of the Midland Services Limited and the company as both the Companies were in the same line of business thereby resulted in rationalization and standardization of the business processes, economies of scale, reduction in overheads, administrative, managerial and other expenditure, organizational efficiency, and optimal utilization of resources which was beneficial for all members and other stakeholders.

It provides significant impetus to the growth in the form of optimum utilization of various recourses with reduction in overheads, administrative costs, managerial and other expenditure, provide holistic services, appropriate channelization of synergies, direct operational efficiencies and consolidated revenue and profitability.

The company was formed with the objective of promoting SPOT buying and selling of Gold across India. It bullion traders, specializing in bars and coins of various sizes and weights of Gold and Silver and offer wholesale delivery of bullion to domestic users i.e. ornament manufacturers, goldsmiths, jewellers and semi wholesalers as well as individual customs. The company is a member of “Indian Bullion and Jewellers Association Ltd” and “Federation of Indian Export Organisations”.

The company also offers the Aurel Gold Purchase Plan for its retail customers in order to enable them to purchase physical gold in the smaller quantities in transparent, convenient and cost effective manner. The company has developed its brand name “Aurel Bullion” over the years that provides it with the advantage of the customers relying on the quality of the product. All of its gold jewellery is hallmarked by BIS except gold jewellery weighing less than two grams which is not required to be hallmarked.

It deals in the products which are of international standards in terms of purity. One of its strengths is that it practices fair dealings in its transactions and provide quality products. This has enabled it to get repeat orders from its existing customers and attract new customers. Its quality products enable it to get better margins on the products traded by it and develop long term relations.

Business area of the company

The company is engaged in bullion trading i.e. trading of 24K Gold & Silver Bars and Coins.

Businesses of the company

• Bullion Trading
• Gold Purchase Plan (GPP)
• Financial Consulting and Advisory
• Become A Bullion Trader

History and milestones

• 2009: Incorporated under Companies Act, 1956 as “Amanaya Financial Services Private Limited”
• 2015: Name of the company was changed from “Amanaya Financial Services Private Limited” to “Amanaya Ventures Private Limited”
• 2015: Converted company to Public Limited from Private Limited
• 2018: The company as strategic investor who became Promoter Acquirer made an Offer(Delisting Offer/Offer), to the public shareholders of the Company- Midland Services Limited (Public Shareholders) holding fully paid up Equity Shares of the Company, seeking to acquire 1,757,055 Equity Shares, representing 54.91% of fully paid-up equity share capital and voting capital of the Company, held by the Public Shareholders to delist the Equity Shares of the Company from Metropolitan Stock Exchange Of India Limited (MSEI) in accordance with the SEBI Delisting Regulations. The equity shares of Midland Services Limited were successfully delisted from MSEI w.e.f. October 18, 2018 and as confirmed by MSEI via its letter dated October 8, 2018.
• 2020: Scheme of Amalgamation of Midland Services Limited with the company pursuant to Sections 230 to 232 of the Companies Act, 2013 alongwith the Rule 15 of the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016, as arnended, under a scheme of arrangement and amalgamation which was approved by the National Company Law Tribunal, Chandigarh by its order dated March 17, 2020.