The company was incorporated on May 25 1940 as Produce Dealers pvt. Ltd. ln 1963 the company
changed its name to Tungbhadra Pulp & Board Mills Ltd. and set up the first unit in Karnataka for
manufacture of paper boards. Thereafter, in 1973, the company sold the unit and became a finance
company engaged in financial services business.
Since then, the company has been providing financial services including giving loans, investing in shares
and finance brokerage, etc. and has been continuously profit making.