Banas Finance Ltd
BBSE:BANASFN6.74
INR
+0.09
(+1.35%)
Banas Finance Ltd
BSE:BANASFN
(Bombay Stock Exchange)
Recent
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6.74
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ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Banas Finance Limited is a non-banking finance company (NBFC) primarily engaged in providing diverse financial services including purchase, leasing, factoring, and financing of hire-purchase and lease of plants, machineries, motor vehicles, ships, aircrafts, computers, and other equipment. The company also operates as investors and dealers in shares, stocks, and securities, offering financial services such as short-term and long-term loans and commercial and trading operations, excluding banking and insurance business. Founded in 1983 and headquartered in Mumbai, India, Banas Finance serves primarily the Indian market through its finance and commodity trading business segments. The company was formerly known as Pioneer Leasing Company Limited and changed its name to Banas Finance Limited in 1986. It focuses on financing assets across multiple sectors including transport, machinery, and technology. Recently, Banas Finance has undertaken strategic operational changes such as increasing its authorized capital significantly, appointing new independent directors and secretarial auditors, and undergoing executive management changes including the resignation of the CFO. It has also conducted rights issues to raise funds aimed at meeting working capital requirements and expanding its lending and financing capabilities. The company continues to maintain a low employee count while focusing on financial software infrastructure to support its financing operations. Banas Finance’s business model extends to accept deposits and provide lending solutions to both retail and corporate customers within India, emphasizing a range of financial products such as leasing, hire-purchase financing, factoring, and share trading activities. The company’s recent financial initiatives and regulatory compliance efforts reflect a focus on strengthening governance and increasing capital base to support growth and operational stability in the financial services sector. Its geographic operations are concentrated in India, with headquarters based in Mumbai, operational since 1983. The company’s strategic expansions and updates to governance align with its ongoing efforts to enhance services and financial product offerings in the Indian market.