During the 1994-95 period, the company conducted private placements, offering 8.5 lakh shares at a premium of Rs 285 and 11 lakh shares at a premium of Rs 165.
The company aims to enhance its investor base and extend its market presence, establishing offices in Bangalore and Madras to leverage its nationwide reach for an efficient distribution network across primary market products.
Further, it plans to consolidate and enhance its current fund and non-fund based operations in merchant banking, financial product marketing, lease and hire purchase finance, and explore new avenues like venture capital financing, housing finance, etc., to offer a comprehensive range of financial services with significant profit potential.
In 2001-02, the company served as Managers for four open offers under the SEBI Takeover Code and managed one buyback offer under the SEBI Buy Back Regulations.
As of March 31, 2002, the company had two wholly owned subsidiaries, namely SMIFS Capital Services Limited and Rixebe Estates and Investments Ltd. In 2002, the entire shareholding of SMIFS Venture Capital Ltd. was divested, resulting in the company no longer being a subsidiary. Rixebe Estates & Investments Limited became a wholly owned subsidiary on June 20, 2002.
In March 2006, Salveo Life Sciences Limited, which had become a subsidiary on January 3, 2006, ceased to be a subsidiary of the company as of February 21, 2007.