- Business
- Gujarat Lease Financing Limited (GLFL.NS), a publicly listed non-banking financial company incorporated in 1983 and headquartered at 6th Floor, Hasubhai Chambers, Opp. Town Hall, Ellisbridge, Ahmedabad, Gujarat, India, previously engages in lease financing, hire purchase, merchant banking, investment banking, securities-related credit, housing finance, retail finance for commercial vehicles, and real estate development through subsidiaries; core products and services historically encompass equipment leasing, financial services for industrial development in Gujarat, broking in debt and capital market segments on BSE, NSE, and Ahmedabad Stock Exchange, and international operations via branches in Singapore and Dubai. The company, originally formed as a wholly-owned subsidiary of Gujarat Industrial Investment Corporation (GIIC) with ongoing stakes of approximately 26% by GIIC and 25% by Torrent Group alongside 49% public holding, ceased lease finance activities since fiscal year 2000-01 following debt resolution via a 2004-05 court-sanctioned compromise scheme that eliminated external borrowings, and underwent a major reorganization in 2019 when its three wholly owned subsidiaries—GLFL Housing Finance Limited, GLFL Securities Limited, and GLFL International Limited—merged into GLFL effective April 1, 2017 per National Company Law Tribunal order, resulting in no significant operations today with only three employees and minimal revenue from investments.