The company was originally incorporated on May 25 1940 as
Produce Dealers Private Limited. 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. The
name of the Company was changed to Hemakuta Industrial
Investment Co. Ltd.
In the last 10 years since the liberalization of financial sector and
strict regulatory guidelines of Government Agencies, the Company
had to compete in a significantly competitive environment and
this forced the Company to scale down its activities in investment
in shares, stocks, debentures and other financial instruments.
In 2012, the company was taken over by Mr K Kannan by
acquiring 69.8% of total share holding in compliance with SEBI
take over guidelines and was renamed to ID Info Business
Services Limited with its focus on global software solutions to
Public Sector Companies and Insurance companies
In 2024, after approval by members of the Company and approval
of the Registrar of Companies the company was renamed to Iconik
Sports and Events Limited and has ventured into sports and event
management activities.