TCI Finance Ltd, established in 1973 and part of the TCI Group, is a Non-Banking Finance Company (NBFC) in India, registered with the Reserve Bank of India. The company provides a range of financial services and was founded by Mr. Mahendra Agarwal. It has a subsidiary, ITAG Business Solutions Ltd, focused on knowledge process outsourcing in intellectual property services.
In 1995, TCI Finance launched a rights-cum-public issue, raising Rs 25.5 crore, which faced challenges due to adverse market conditions, leading to under-subscription of the public issue. The company has also issued warrants to its promoter group and established a wholly-owned subsidiary, TCI Securities, in 1995-96, which deals in stock broking and capital market activities. The company has shown adequate security and timely repayment, as reaffirmed by ICRA in 1996-97. However, fixed deposits decreased substantially from Rs.376 lakhs to Rs.106 lakhs in 2001.
