Incorporated in the mid-seventies, TCI Finance was promoted by the TCI group. The company is engaged in financial services. It came out with a rights-cum-public issue in Apr.'95, aggregating Rs 25.5 cr. _x000D_ _x000D_ The rights issue was fully subscribed. However, the public issue was under-subscribed. The company has asked the underwriters to honour their underwriting commitments. The adverse market condition was the key factor in the issue not being fully subscribed to._x000D_ _x000D_ On 8 Jul.'94, the company issued 2.5 lac warrants to the promoter group with an option to apply within 18 months for one equity share against each warrant at a price of Rs 25 per share. _x000D_ _x000D_ In 1995-96, the company incorporated TCI Securities, a wholly-owned subsidiary. This has received a membership from Bangalore Stock Exchange. The subsidiary company's main activity will be Stock Broking, dealing in shares and securities and other capital market instruments, apart from the underwriting and marketing of new issues. _x000D_ _x000D_ During 1996-97, ICRA reaffirmed the rating of MA signifying adequate security and timely repayment,_x000D_ _x000D_ The total fixed deposits during the year 2001 amounted to Rs.106 lakhs as against the previous year of Rs.376 lakhs._x000D_