First Leasing Company of India (FIRLEACO) was incorporated as the first leasing company of the country in September 1973. It introduced leasing in India in 1973. Subsequently, it commenced hire purchase transaction in 1986 and diversified into consumer finance in 1988. The company operations are primarily focused on corporate financing. The product range of the company includes lease, short-term leases, long-term leases, operating leases, sale and leaseback, hire purchase, consumer credit, inter corporate deposit and fixed deposits. The company also provides services like syndication, securitization and debt placement. Its other activity involves wind power generation. The major clients are CitiBank, Johnson & Johnson, Volvo, Siemens Public Communications, ABB, ANZ-Grindlays, IDBI Bank, TELCO, Knoll Pharmaceuticals, and Bayer among others. The company head office is located in Chennai with 13 branches located in various parts of the country. FIRLEACO was appointed as financial consultant to the financial wing of the Indian Railways, namely, Indian Railway Finance Corporation (IRFC). It has been the chairperson of the Association of Leasing & Financial Services Companies over the last seven years. FIRLEACO holds premium contributions of Rs 258.65 million against an equity of Rs 207.9 million, which as a percentage works out to 124.41%.
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