Hybrid Financial Services News

Hybrid Financial Services Completes Merger with Wholly-Owned Subsidiary Maximus Securities

The National Company Law Tribunal Mumbai approved the merger of Maximus Securities Limited (transferor) with Hybrid Financial Services Limited (transferee) with an appointed date of April 1, 2024. The scheme consolidates the stock broking business of the wholly-owned subsidiary into the listed parent company to streamline operations and reduce compliance costs.

Hybrid Financial Services Reports Strong Profit Growth and Plans Subsidiary Merger

Hybrid Financial Services Limited reported a profit of Rs. 205.93 lakhs for FY2024-25, up from Rs. 88.01 lakhs in the previous year. The company earned total income of Rs. 352.97 lakhs and reversed contingency provisions of Rs. 465.07 lakhs. The Board approved a 1% dividend on preference shares and recommended redemption of Rs. 70 lakhs worth of preference shares. The company is pursuing a merger with its wholly-owned subsidiary Maximus Securities Limited, with NCLT passing a first motion order in November 2024. Key board changes include the appointment of Dr. Nitin Tike as director and resignation of Mahesh S. Makhijani. The 38th Annual General Meeting is scheduled for September 12, 2025, via video conferencing.