A category-I merchant banker, Allianz Capital was incorporated in Sept.'91 as Ashtan Capital and Management Services Pvt Ltd. The company was converted into a public limited company in May '92. It acquired its present name in Nov.'92. The company, an integrated financial services company, was promoted by Ashwajit Singh. It provides a host of financial services like leasing, bill discounting, inter-corporate deposits, merchant banking, project advisory, corporate recruitment services and systems design and study. The company has obtained OTC dealership and is a principal member of the NSE. The Company was granted a rating of 'FA' from CRISIL Ltd denoting adequate safety for its fixed deposit programmes. The Company also planned to apply to RBI for setting up a Local Area Bank (LAE) in accordance with the scheme formulated with RBI.