|₹5 / ₹1.95|
What is shareholding pattern? Who are shareholders?
What is a cash flow statement?
What is a balance sheet?
What is a profit and loss statement?
What are dividends?
What are bonuses?
Gujarat Lease Financing (GLFL) was formed in Jul. '83 as a wholly-owned subsidiary of the Gujarat Industrial Investment Corporation (GIIC) to provide financial services for all-round development of industries in and around Gujarat. The company commenced operations in 1985 and went public in 1990, reducing GIIC's stake to 51%. In 1994, GIIC entered into a joint-sector agreement with the Torrent group and reduced its stake to 26%, with the Torrent group holding 25%. GLFL also undertakes investment banking and securities-related credit. With a plan to diversify, during 1991-92, the merchant banking division became operational and the company was registered as a category-I merchant banker with the SEBI. GLFL has also entered housing finance with the launch of GLFL Housing Finance in Mar. '93 and got it recognised by the National Housing Board.