NDA Securities was incorporated on 21 Sep.'92 and was promoted by N D Agarwal & Sanjay Agarwal. The company is been engaged in securities trading and investments and merchant banking including underwriting and issue advisory services. The company came out with a public issue in Jul.'94 to augment long-term resources and to strengthen the existing infrastructure for merchant banking activities. Its group company, N D A Share Brokers, enjoys a wide clientele including financial institutions, banks, mutual funds, corporate bonus and high net worth individuals. The company was granted membership of National Stock Exchange in May '94. It was granted category-I registration for merchant banking by SEBI in Dec.'94. The company has the capacity and infrastructure to enjoy the benefits of liberalisation. In 1995-96, the company got the membership of OTC Exchange of India.