- Business
- Gujarat Lease Financing Limited Gujarat Lease Financing Limited (GLFL.BO) operates as a non-banking financial company with no significant current operations or business segments; it previously provided lease financing, hire purchase, merchant banking services, investment banking, securities-related credit, housing finance, and retail finance offerings including project financing, debt syndication, and merger and acquisition financing. The company maintains minimal investments and cash holdings as its primary assets, generating negligible revenue primarily from other income sources. Incorporated in 1983 as a wholly owned subsidiary of Gujarat Industrial Investment Corporation (GIIC), a Government of Gujarat undertaking, with headquarters in Ahmedabad, Gujarat, India, at 6th Floor, Hasubhai Chambers, Opp. Town Hall, Ellisbridge, it listed on the Bombay Stock Exchange and National Stock Exchange, with GIIC holding 26%, Torrent Group 25%, and public shareholders 49%. GLFL discontinued lease finance activities starting financial year 2000-01 and merged its three wholly owned subsidiaries—GLFL Housing Finance Limited, GLFL Securities Limited, and GLFL International Limited—into itself pursuant to National Company Law Tribunal (NCLT) orders, resulting in its present dormant status with only three employees and no material operational income. Its latest annual general meeting occurred on September 17, 2024, with financial results for the quarter ended June 30, 2025, reflecting a loss of Rs. 5.86 lakhs amid accumulated losses exceeding net worth and no planned business operations.