- Business
- Mukesh Babu Financial Services Limited (MUKESHB.BO), a non-banking financial company registered with the Reserve Bank of India, engages primarily in investment banking and financing activities in India; it conducts research-based investments in shares for short-term and long-term periods, invests in companies and sectors with high growth potential including nascent industries, and provides financial services such as corporate lending, inter-corporate deposits, and lease financing. The company, originally incorporated on February 27, 1985, as Embee Finance and Consultancy Private Limited and renamed effective June 18, 1991, maintains its headquarters at 111, Maker Chamber III, 223 Nariman Point, Mumbai, India, with shares listed on the Bombay Stock Exchange; its wholly-owned subsidiary, Mukesh Babu Securities Limited, operates as a brokerage member of the National Stock Exchange of India, Bombay Stock Exchange, and Over the Counter Exchange of India. Targeting corporate clients and investment opportunities across Indian markets, the company focuses on wealth creation through disciplined investment strategies leveraging over 30 years of experience in finance and capital markets. In recent developments, the company strengthened its governance structure in 2024 by appointing multiple independent directors including Chetan M. Tamboli, Mayank Soti, and Subhash Dave effective August 9 for five-year terms subject to shareholder approval at the September 27 annual general meeting, alongside board changes such as the cessation of Manish Kumar Shah on August 20 and CFO transitions with Mahesh Thakar appointed December 1, 2023; it also approved material related party transactions up to INR 10 crore each for loans and brokerage with entities including subsidiary Mukesh Babu Securities Limited, Istaa Finserv Private Limited, and others like Rushil Industries Limited from April 2024 to September 2025, and declared a dividend of INR 1.20 per equity share for fiscal year 2023-24.