Incorporated on 18 May '94, Ushdev Trade and Finvest (UTAF) is managed by Vijay D Gupta, the Chairman and Managing Director. It has one subsidiary, Ushdev Securities.
UTAF came out with its maiden public issue of 17.5 lac equity shares aggregating Rs 1.75 cr in Dec.'94.
It has executed orders worth for 100% cotton terry towels valued at Rs 9 cr. The subsidiary is being engaged in the business of investments in securities.
In 1996-97, the company set up a 100% wholly owned subsidiary in the Caymann Islands, named Ushdev International (Cayman) Ltd with the approval of RBI. It has also commissioned a 2.5 MW Wind Mill Project for generating electricity at Naranapuram in Tamil Nadu.
The company is in the process of entering into Information Technology Business and developing a complete Business to Business (B2B) Exchange and this portal would be the first of its kind in the world.