Commencement of Business of Sale of Securities and Trading and Export of Textile products. Maiden Public Issue of equity shares aggregating to Rs. 60 Lakh, Issue oversubscribed by four times. Engaging in Weizmann forex services to Z in finance encompassing borrowing lending, Lease and Hire Purchase, Underwriting issues, Securities Trading, Consultancy in Finance field.
Maiden Dividend declared at the 3rd Annual General meeting of the company. Simultaneous Rights and Public aggregating to Rs. Brand name and reflect a multi activity organization. Acquired Textile processing house at Ahmedabad. Received License from Reserve Bank of India for Full Fledged Money Changer Business.
Ventured into Non-conventional Energy Sources through a 50:50 joint Venture with Nedwind Rhenen bv, The Netherlands for manufacture of Wind Electric Generators in a joint Venture Company Windia Power Ltd. The Group was first to install and commission Wind Electric Generators of capacity 500 KW plus in India. Commissioned 3 MW Wind Farm at Ramgiri, Anantpur District, Andhra Pradesh as Pilot plant for Joint Venture Company Windia Power Ltd to launch its products. Company launched its Fixed Deposit Programme with Credit Rating AA- from Care. Weizmann Ltd was the 1st Finance Company to dematerialize its equity shares from physical form.
Commissioned additional 2 MW wind farm at Tallimadugulla, Anantapur district, Andhra Pradesh. Demerged Money changing and Western Union Money Transfer business to its Subsidiary Weizmann Forex Ltd. The Netherlands for setting up wind farms in different states in India through the JV Company Weizmann Ltd. The company ceased to be a NBFC pursuant to change in activity mix.
Company ventured into setting up small hydel projects to be set up in special purpose companies with aggregate allotment of 16. Set up 9 MW Wind Farm at a project cost of Rs. Limited set up its 9 MW wind farm at a project cost of Rs. 50 Crores at Vankusawade, Satara District, Maharashtra.
Limited and Haryana Power Generation Corporation Limited for setting up a 600 MW Gas Based Power Plant at Panipat. Exited from housing finance by transferring entire equity stake in subsidiary company Weizmann Homes Limited to AIG Capital India Pvt. The Company obtained registration of its 9 MW wind power project at Vankusawade, Satara district, Maharashtra with UNFCCC for obtaining the benefits of sale of carbon credits i. Malaysian company Prabhu Remit Sdn Bhd engaged in remittance business. The company is now known as Horizon Remit Sdn Bhd and is a Joint Venture of two Indian companies. The Group Companies signed MOU with Gujarat Government for setting up 300 MW wind farm during Vibrant Gujarat Global Investors Summit 2009.
Undertook a Group Restructuring exercise under which the two subsidiary companies Weizmann Forex Limited and Weizmann Ltd. Limited was amalgamated with Weizmann Limited w. 2009 through a scheme of arrangement approved by Hon’ble High Court of Bombay vide their Order dated 29. 2010 and thereafter the forex business undertaking and power business undertaking of Weizmann Limited was demerged into two resultant companies w. The Group companies Weizmann Forex Limited and Weizmann Ltd.
Limited were listed on Bombay Stock Exchange and National Stock Exchange from 28. Weizmann Forex Limited has emerged as the leading representative of Western Union Overseas in terms of number of locations for money transfer business. Weizmann Forex as part of its objective under corporate social responsibility sets up a 7. Small Hydel Projects about 16 MW and Solar Project about 50 MW. Weizmann Impex Service Enterprise Ltd has received authorization from Reserve Bank of India to issue and operate semi closed prepaid payment instruments in India. Domestic remittance market in India is currently estimated around USD 4 billion and is expected to grow to USD 9 billion in the next 4 years. A vast number of migrant laborers do not use formal financial channel of remitting payments.
3 billion people, mobile phone subscriptions has already reached 1 billion mark, according to the latest data supplied by TRAI. The government push for adoption of digital payments is further expected to provide a boost for adoption of smartphones in the country. Data Recharge and Bill Payment service through its agents and corporate partners. Ticketing offers customers the fastest and quickest way to book their rail tickets without having to wait in queues. Bus and air ticketing would be added soon to the software.