Belonging to the Pittie group, Pittie Finance was incorporated in 1988 under the name of On Time Leasing and was subsequently changed to the present name.
It is a SEBI-recognised category-I merchant banker. The company is involved in the business of leasing, hire purchase and bill discounting. The company undertakes discounting of bills drawn under letters of credit opened by banks and payable in Bombay. Non-L/C bills arising out of genuine trade transactions and drawn on reputed parties are also discounted. The company extends lease finance for machinery, vehicles of industrial use at competitive rates. The company also offers a special package for leasing of generator sets, earth moving equipment, vehicles, etc, for cement plants supplied by its group concern, Pittie Cement and Industries, Jodhpur. The company's other group concern is Pittie Minerals and Metals, engaged in the mining of lime stone, manufacture of calcined lime and sales and distribution of sponge iron and steel products.
The company has launched a unique scheme called Direct Link to cater to investors/brokers/sub-brokers in smaller towns and cities of rural India to give them direct access to trading on BSE, NSE and OTCEI, as well as an agency to market primary market issues. The members of Direct Link will have professional equity research advice available to them.
Pittie Securities, a wholly owned subsidiary, is a member of NSE and OTCEI, and has tied up with a leading broker of BSE for its BSE operations.