The company was incorporated in 1993, as a Private Ltd. Company, and was converted into a Public Ltd., company in 1993. It was promoted by H.R. Hemnani & Associates. The Company started it`s functions as Merchant Banker and carrier on activities on issue management as well as underwriting and leasing hire purchase. The company also entered into various other activities like merchant banking, leasing, corporate counseling and other capital market operations.

It as well made a foray into portfolio management activities and launched its Fixed Deposit Scheme (Cumulative and Non-cumulative). The company has a subsidiary Keynote Capitals Limited (KCL), which is an integrated brooking house having membership on National Stock Exchange of India Ltd. (NSE), The Stock Exchange, Mumbai (BSE) and the Over the Counter Exchange of India (OTCEI).

Recent Developments: The operations of the company has been adversely affected because of various adverse economic conditions including US slow down, due to which the activity in the capital market has fallen substantially. During the year the company managed IPO`s of various companies and a few takeover assignments.

The Company has been making conscious attempt to focus on quality assignments and hopes to consolidate its position in merchant banking and advisory services in the Indian capital market. KCL has commenced `Depository Operations` on Central Depository Services Ltd. (CDSL). The company stand delisted from the stock exchanges at Ahmedabad, Calcutta, Chennai and Delhi w.e.f. financial year 2001-02.

Future Plans: The Company is in the process of implementing the various cost cutting measures including reduction of workforce which is felt necessary as a part of restructuring strategy and is in line with the industry trend and major slow down witnessed by Indian economy in general and capital market segment in particular.