| 1983
- The Company was incorporated as a Public Limited Company on July 13, as a wholly owned subsidiary of Gujarat Industrial Investment Corporation Limited (GIIC); a Government of Gujarat undertaking, to provide complementary financial services. It received the Certificate of Commencement of Business on October 28. The Company undertake business of leasing and hire purchase, provision of merchant banking service and complementary financial
services.
1992
- The Company's Merchant Banking Division managed 10 issues as lead manager and 6 issues as co-manager.
- 35,00,105 No. of equity shares of Rs 10 each issued to GIIC. 35,00,000 No. of equity shares of Rs 10 each issued at a premium of Rs 5 per share in October 1990 as follows: on firm allotment;
(i) 2,00,000 shares to Canbank Mutual Fund; (ii) 3,00,000 shares to UTI. Of the remaining 1,75,000 shares reserved on preferential allotment basis to employees of the Company, holding company, GIIC Ltd. (all were taken up). Balance 28,25,000 shares issued to the public. Additional 5,25,000 shares issued to retain oversubscription (75,000 shares to UTI, 9,100 shares to employees and 4,40,900 shares to public).
1993 - The MBD underwrote issues worth Rs 67.14 crores and managed 26 issues aggregating Rs 458.93 crores despite luke warm market conditions. During the year, the Company commenced short term funds deployment activities and deployed a sum of Rs 125.14
crores.
- The Consumer finance division proposed to commence activities like odd lot trading, share shoppe etc.
- The Company proposed to launch its mutual fund through its asset management company.
- GLFL Housing Finance Ltd. and FLFL Securities are subsidiaries of the Company.
- During December 1993-February 1994, Torrent Investments Pvt. Ltd., a company of Torrent Group, Ahmedabad acquired 33,00,000 No. of equity shares of Rs 10 each representing 15.17% of the voting capital of the Company from GIIC at a negotiated price of Rs 105 per share.
- 37,62,552 bonus equity shares issued in prop. 1:2. During Oct.-Nov. 1992, 112,87,657 rights equity shares of Rs 10 each issued at a prem. of Rs 70 per share in prop. 1:1. Another 32,000 shares offered at a prem. of Rs 70 per share to employees on a equitable basis. 104,71,557 shares taken up of the rights issue.
1994
- The investment banking division marketed a new product `Bought Out Deals'. The retail finance division proposed to enter the field of commercial vehicles finance.
- During the year, the Company started a full fledged division under the name of Securities Related Operation to provide various services for the small investors. It launched a Secondary market finance scheme which received good response.
1995
- The retail finance division introduced a scheme for financing commercial vehicles.
1997
- 54,39,803 bonus shares issued in proportion 1:4.
2007
- Gujarat Lease - E-mail ID for Investor Complaints is glfl.invcomplain@Yahoo.co.in
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