Algoquant Fintech Ltd

Algoquant Fintech Limited was erstwhile incorporated as 'Hindustan Everest Tools Limited' on January 25, 1962. The Company name was changed to Algoquant Fintech Limited from Hindustan Everest Tools Limited on November 16, 2022. The Company is presently engaged in the business of trading in financial instruments effective from February 10, 2011. The Company is a wholly owned subsidiary of Algoquant Investment Private Limited, formerly known as Mandelia Investment Private Limited. The Company was formerly engaged in the business of trading in metals, which discontinued effective from 01 April, 2021. The Company committed with production and marketing of high quality hand tools certified GS by VPA Remscheid, Germany for over 4 decades to buyers in the home country and in abroad. The products comprises of Single Open End Spanners, Double Open End Spanners, Bihexagon Ring spanners, Combination Ring & Open Ended Spanners, Sockets and Accessories, different Pliers, Pipe Wrenches (Stillson, Heavy duty and Chain Pipe Wrenches), Adjustable Wrenches, Screw Drivers, Grip Pliers, Slogging Wrenches etc. HETL produce hand tools by using high quality Chrome Vanadium Steel in different international standards like BIS, DIN, and ANSI etc. The Company faced an event of loss up to 2005-06 due to some internal and external reasons. Moreover the unprecedented power cuts even during winter months may affected the production of the company, to avoid this disturbance, Company hosted two power generators for uninterrupted power supply to our entire plant. In FY 2006-07, Company's management adopted one relentless effort to control consumption of all major inputs and increase in production efficiency. It gave good result to the company. HETL stands up from the loss to huge cash profit level. Company had discontinued its operation at its sole manufacturing plant at Sonepat and finally declared closure of the said Plant w.e.f 15 December, 2016. During FY 2017-18, Company monetized entire land of its plant along with plant machinery and stocks. From the realisation thereof, the Company paid off all its liabilities. In FY 2019-20, The erstwhile promoters sold their entire stake in the Company to Algoquant Financials LLP (Acquirer) on October 24, 2020, initiating a takeover process. In FY 2024-25, the Scheme of Arrangement between Growth Securities Private Limited (GSPL) and Algoquant Investment Private Limited (AIPL) and the Company was implemented. Stock Broking Business Undertaking of Growth Securities Private Limited was demerged into the Company as a going concern w.e.f. April 1, 2023 and Algoquant Investments Private Limited was amalgamated with the Company, making the Scheme of Arrangement effective on October 3, 2024. The Company has issued total 43,66,314 Equity Shares of Rs. 2/- each to the shareholders of Algoquant Investments Private Limited and issued 21,81,000 equity shares of Rs. 2 each to the shareholders of Growth Securities Private Limited. Further, Company has issued Bonus Shares in the in the proportion of 1 new fully paid-up equity shares of Rs. 2/- each for every 2 existing fully paid-up equity share of Rs. 2/- each held by them (i.e. in the ratio of 1:2), the Company has allotted 52,05,482 fully paid-up bonus equity shares of the face value of Rs. 2 each to the eligible members of the Company on January 8, 2025. Pursuant to the Scheme of arrangement Growth Global Securities (IFSC) Private Limited becoae the subsidiary of the Company. Company also incorporated Wholly Owned Subsidiary on June 13, 2025 with the name of 'Algoquant Global Securities Private Limited'. The Company has fully transitioned into a modern, tech-focused financial trading entity in 2025.