uring the early eighties, at the height of license Raj in India, very few could muster up the courage to dwell into the ether world of establishing a small scale industry. Rigid government policies caused delays in getting land allotments, SSI registrations, Pollution Board Certificates, term loan sanctions, subsidy sanction and disbursements etc. "Around the same time, there were several constraints in giving recognition to financial consulting firms which made it tougher to represent small entrepreneurs before banks and financial institutions," adds Ashok Ajmera, MD of Ajcon Global Services Limited. Fighting against these odds, he incepted Ajcon, a provider of financial services in 1986. Ajcon in those days provided one window service to small entrepreneurs right from site selection, MIDC Land Allotment, obtaining SSI registration, preparing the project report to arranging the requisite term loan, working capital and state Govt. subsidies "My sole objective was to help aspiring small entrepreneurs set up their business," he adds.
Under Ashok's strong leadership, the company has today grown to become a key player in the field of Corporate Advisory Services, Investment Banking, Merchant Banking and Capital Market Activities. Headquartered at Mumbai the Company has a strong Corporate Advisory, Investment Banking, Merchant Banking, Equity/Commodity/Currency market activities through the membership of NSE, BSE, MCX, CDSL. The Company also has a strong equity research cell whose reports are being followed by thousands of fund managers across the globe. It is an active player in the field of providing consultancy to corporate raising their resources through banking channels, new venture funding, private equity and IPOs.
Having tie ups for online equity trading with Bank of India, the Banks' customers are enabled to trade on its online portal www.pyarapaisa.com.
Eyes on Infinity and Beyond
The Company is also empanelled with almost all the PSU banks, leading insurance companies and Mutual Funds for their secondary market equity dealings.
Even though the company has grown in leaps and bounds, their approach remains simple and professional. Once the genuineness and the long term intent of the client is established through SAPAE process i.e. Survey, Analysis, Planning, Action and Evaluation and the team is convinced about the business idea, the further journey has a "Hand-holding" approach, something the Company believes in strongly. Another factor that sets the company apart from its competitors is Ajcon's team of professionals. Equipped with a team of professionals having exposure, experience and domain knowledge for execution of loan syndication, private equity/venture capital, merchant banking, mergers & amalgamation, research and secretarial practices, the company has successfully serviced more than 250 small and mid sized businesses till date.
From license Raj, to the present Modi era, the company has come a long way and now with the advent of a decisive government, is prepared to fire on all their cylinders in the immediate future to help global players making their entry in India and Indian companies raising requisite resources through a combination of domestic and overseas funds, institutions and Capital Market, be it Bank Finance, Private Equity or Direct Capital Market one side and structuring, Mergers & Amalgamation on other side, Ajcon has the expertise to embark on all.
Ashok Ajmera, Chairman & Managing Director:
A Chartered Accountant from Mumbai (1977). Mr. Ashok Ajmera has garnered a rare expertise in the entire gamut of financial services. In 1981, he started his own firm of Chartered Accountants under the name and style of M/s. Ajmera & Associates at Mumbai. With the acquired name, knowledge and insight into the corporate world, he corporatised project consultancy by setting up Ajmera Financial and Project Consultants Pvt. Ltd in the year 1986, the name which was later coined as Ajcon. Under his dynamic leadership, the company went public in 1995 and presently engaged in Capital Markets, Corporate Advisory, Merchant Banking, Investment Banking and Depository Services. He is also the Board member of BSE Brokers Forum .