India Lease Development Limited (ILDL) was established on October 19, 1984, and commenced its operational activities in November 1987. Registered with the Reserve Bank of India as a Non-Banking Financial Company (NBFC), ILDL specializes in Hire Purchase & Leasing Business. The company was founded by The Motor and General Finance Limited (MGF), New Delhi, a renowned entity in financial services, with equity participation from the International Finance Corporation (IFC), Washington, USA, an affiliate of The World Bank, and Punjab National Bank. Primarily focused on North India, ILDL provides financial solutions for commercial vehicles, automobiles, construction, earth-moving equipment, and machinery. In June 1994, ILDL conducted a public issue at a premium of Rs 20, raising Rs 7.88 crore to meet the projected demand for financial assistance amounting to Rs 51.82 crore. The core operations of ILDL revolve around hire-purchase and lease finance, catering primarily to the transport, industrial, and construction sectors by offering vehicles, machinery, and other assets on lease and hire-purchase terms. Over time, ILDL has diversified its offerings to include finance through bill discounting and other money market activities. The equity of the company has seen investment from the International Finance Corporation (IFC), Washington, and Punjab National Bank. In the fiscal year 2010-11, MGF Services Limited (MGFS) was merged with ILDL, resulting in a share allotment scheme where shareholders received 3 equity shares of India Lease Development Limited (ILD) for every 2 equity shares of MGFS, in a ratio of 3:2.