Shikhar Consultants (SCL), founded in 1992 by Babulal Agarwal and Bharat Deora, is a Bombay-based firm specializing in fee-based financial services, including public issue advice, project counseling, and capital structuring. The company is also actively involved in share and securities trading, which is a major source of its profitability. In February 1995, SCL issued 2.7 crore in equity shares to fund its investment transactions, leasing, and bill discounting needs.
Currently holding a category-IV merchant banker status, SCL has applied to SEBI for an upgrade to category-I. Despite the challenging capital market conditions, the company is cautiously optimistic about its prospects, planning to diversify into merchant banking, underwriting, management consultancy, and acquiring stock broker membership on premier exchanges. Additionally, SCL is exploring commodity trading and export opportunities to foster stable growth. The 1995-96 financial year was challenging due to market sluggishness, characterized by illiquidity and asset value erosion.
