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Gujarat Lease Financing > Company History > Finance - Leasing & Hire Purchase > Company History of Gujarat Lease Financing - BSE: 500174, NSE: GLFL
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Gujarat Lease Financing

BSE: 500174|NSE: GLFL|ISIN: INE540A01017|SECTOR: Finance - Leasing & Hire Purchase
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Company History - Gujarat Lease Financing
1983
  - The Company was incorporated as a Public Limited Company on July
 13, as a wholly owned subsidiary of Gujarat Industrial Investment
 Corporation Limited (GIIC); a Government of Gujarat undertaking, to
 provide complementary financial services.  It received the
 Certificate of Commencement of Business on October 28. The Company
 undertake business of leasing and hire purchase, provision of
 merchant banking service and complementary financial
 services.
 
 1992
 - The Company's Merchant Banking Division managed 10 issues as lead
 manager and 6 issues as co-manager.
 
 - 35,00,105 No. of equity shares of Rs 10 each issued to GIIC.
 35,00,000 No. of equity shares of Rs 10 each issued at a premium of
 Rs 5 per share in October 1990 as follows: on firm allotment;
 (i) 2,00,000 shares to Canbank Mutual Fund; (ii) 3,00,000 shares to
 UTI.  Of the remaining 1,75,000 shares reserved on preferential
 allotment basis to employees of the Company, holding company, GIIC
 Ltd. (all were taken up).  Balance 28,25,000 shares issued to the
 public.  Additional 5,25,000 shares issued to retain oversubscription
 (75,000 shares to UTI, 9,100 shares to employees and 4,40,900 shares
 to public).
 
 1993 - The MBD underwrote issues worth Rs 67.14 crores and managed 26
 issues aggregating Rs 458.93 crores despite luke warm market
 conditions.  During the year, the Company commenced short term funds
 deployment activities and deployed a sum of Rs 125.14
 crores.
 
 - The Consumer finance division proposed to commence activities like
 odd lot trading, share shoppe etc.
 
 - The Company proposed to launch its mutual fund through its asset
 management company.
 
 - GLFL Housing Finance Ltd. and FLFL Securities are subsidiaries of
 the Company.
 
 - During December 1993-February 1994, Torrent Investments Pvt. Ltd.,
 a company of Torrent Group, Ahmedabad acquired 33,00,000 No. of
 equity shares of Rs 10 each representing 15.17% of the voting capital
 of the Company from GIIC at a negotiated price of Rs 105 per share.
 
 - 37,62,552 bonus equity shares issued in prop. 1:2.  During
 Oct.-Nov. 1992, 112,87,657 rights equity shares of Rs 10 each issued
 at a prem. of Rs 70 per share in prop. 1:1.  Another 32,000 shares
 offered at a prem. of Rs 70 per share to employees on a equitable
 basis.  104,71,557 shares taken up of the rights issue.
 
 1994
  - The investment banking division marketed a new product `Bought Out
 Deals'.  The retail finance division proposed to enter the field of
 commercial vehicles finance.
 
 - During the year, the Company started a full fledged division under
 the name of Securities Related Operation to provide various services
 for the small investors.  It launched a Secondary market finance
 scheme which received good response.
 
 1995
 - The retail finance division introduced a scheme for financing
 commercial vehicles.
 
 1997
 - 54,39,803 bonus shares issued in proportion 1:4.
 
 2007
 - Gujarat Lease - E-mail ID for Investor Complaints is
 glfl.invcomplain@Yahoo.co.in 
 
Source : Dion Global Solutions Limited
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