Autoriders Finance Ltd Share Price

Summary

Autoriders Finance Ltd was incorporated on February 21, 1985. The Company is not having any operation and reporting as not a going concern. The early eighties saw the auto finance industry grow at a faster pace than the auto industry itself. The Autoriders group which had, by that time, acquired prestigious automobile dealerships for two-wheelers, passenger cars, jeeps and LCVs, took over Zincolite Trading & Finance. Incorporated on 21 Feb.85, with a paid-up equity of Rs 24.90 lac, it was later renamed Autoriders Finance. The company commenced financial operations in 1989-90. It entered the capital market in Feb.93 and mopped up Rs 10.5 cr. The company has, since then, stopped all re-finance arrangements and has started deploying its own funds.AFLs portfolio with Citibank is the largest and the best, with the lowest rate of default. AFL specialises in auto financing and hence its performance is linked to the changing fortunes of the automobile industry. It is a major dealer in Maruti, DCM Toyota and Premier Auto. It was the major financier offering bookings for DCM Daewoos Cielo. It has recently commissioned luxury coaches plying between the suburbs and major commercial centres in Bombay.The Company has worked out a support strategy by productively utilising some of the immovable properties and utilisation of its marketing and distribution strength, Same will be presented to banks & institution for serving as the basis for repaying the liabilities.Company has plan to bring a
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