Worldlink Finance (WFL) was incorporated on 23 Aug.'85 as a public limited company with the main objective of carrying on the business of leasing and hire-purchase. WFL is a multi-product financial services company. Its areas of business includes consumer finance, portfolio management, investment banking services, leasing and hire-purchase services to corporate and retail sectors.
In Nov.'91, WFL came out with a rights issue to augment its long-term financial resources and increase its leasing and hire-purchase business. In 1992, the company was accorded the category-I merchant banker authorisation by SEBI. It has also entered the fields of bill discounting, syndication of inter-corporate deposits, and obtained the membership of the OTC exchange. It also signed an MoU with the Duncan MacNeill group, UK, for providing international connection, marketing network and expertise, and to set up offices abroad.
In 1993-94, it managed 16 issues as lead managers and underwrote capital issues worth Rs 49.12 cr. It has received approval from SEBI to establish a mutual fund and has taken steps to establish an asset management company. It has applied for corporate membership of the NSE and the BSE.