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* - Tentative Dates
The company proposes to utilize the Net Proceeds to:
1. Towards working capital requirements including:
2. General corporate purpose; and
3. To meet Issue related expenses.
Banas Finance Ltd.'s revenue decreased by -79.29% and profit after tax (PAT) dropped by -178.95% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 159.35 | 188.08 | |
| Revenue | 20.88 | 100.82 | 14.47 |
| Profit After Tax | -54.76 | 69.37 | 11.22 |
| Amount in ₹ Crore | |||
Banas Finance Limited was founded in June 1983 as Pioneer Leasing Company. In 1999, the company applied to the Reserve Bank of India for conversion into a Non Banking Finance Company and was granted a licence in January 1999.
The main object of the company is to purchase, lease, factor, instalment financing and leasing of all types of plant and machinery, motor vehicles, motor boats, trawlers, launches, ships, vessels, helicopters, aircraft, automobiles, computers and any other equipment as the company may deem fit.
They provide comprehensive assistance in financing a wide range of installment plans and similar transactions on the most favourable terms. In addition, they conduct business as investors and dealers in stocks, securities, and corporations, and operate as capitalists, financiers, and concessionaires. Their expertise enables us to execute all types of financial, commercial, and industrial transactions with the highest level of professionalism and expertise.