India Lease Development Ltd

India Lease Development Limited (ILDL) was incorporated on 19 Oct.84. However, the company commenced actual operations from Nov.87. The Company registered with Reserve Bank of India as a NBFC is engaged in Hire Purchase Leasing Business. The Company was promoted by The Motor and General Finance Limited(MGF), New Delhi a pioneer in the field of financial services, along with Equity Participation from International Finance Corporation, Washington, U.S.A an associate of The World Bank and Punjab National Bank. Geographical, it has its presence mainly in North India. The Company use to operate in the field of providing finance for commercial vehicles, automobiles, construction, earth moving equipments and machinery.The company came out with a public issue at a premium of Rs 20 in Jun.94, aggregating Rs 7.88 cr, to partfinance the projected demand for financial assistance of Rs 51.82 cr. ILDL mainly provides hirepurchase and lease finance. The company provides vehicles, machinery and other assets on lease and hirepurchase to the transport, industrial and construction sectors. It has diversified into other activities in the money market and provides finance through bill discounting. The International Finance Corporation (IFC), Washington, and the Punjab National Bank have participated in the equity of the company.During the year 201011, MGF Services Limited (MGFS) was amalgamated with the Company. Resulting to said Amalgamation Scheme, shares were allotted in the ratio of 3 equity shares of India Lease Development Limited (ILD) for every 2 equity shares of MGFS. i.e., 3:2.