Roselabs Finance was incorporated on January 4, 1995 and was promoted by Pawankumar Agrawal as a public limited company. It is a non-banking finance company registered with Reserve Bank of India. The registered office of the company is in Gujarat.
Roselabs Finance Limited and Singhal Overseas (the companies within the promoter group and which are also the major shareholders of the company) entered into a share purchase agreement on February 19, 2008 for sale of total 44,72,650 (44.73%) equity shares of the company to Poonam Fast Foods Private Limited pursuant to and in compliance with Regulation 10 and 12 of SEBI (Substantial Acquisition of Shares and Takeovers) regulation 1997 and subsequent amendments thereto, Poonam Fast Foods Private Limited made an open offer and acquired 2,66,531 shares in the said open offer. Poonam Fast Foods Private Limited holds 57,64,181 (57.64%) equity shares of the company and is now the new promoter of the company.
Roselabs Finance is engaged in all kinds of financial activities and services including providing lease finance and investment activities and intends to develop it as a professionally managed company by expanding its branches and marketing network all over the country. It provides corporate and non corporate loans and has surplus funds invested into equity shares of listing and non listed companies.
The company has started its operations since the last few months in the dimension of lease, hire purchase and portfolio investment activities. The company plans to expand its activities in the area of leasing and hire purchase business and to part-finance the same the company proposes to raise funds by issue of shares to public.