Incorporated on 19 Sep.'89, Coimbatore Lakshmi Investment & Finance Company (CLIFC) was promoted by Chairman K Rajgopal, the managing director of Lakshmi Mills. The company's offices are in Coimbatore, Madras, both in Tamilnadu; Bangalore, Karnataka; and Pondicherry. The other group companies are Lakshmi Mills, Lakshmi Machine Works, Lakshmi Automotive Loom Works and Lakshmi Synthetic Machinery Manufacturing. CLIFC went public in Jan.'94 at par to augment its long-term capital. The company mainly provides hire-purchase finance for industrial equipment, and finance for consumer durables to employees of reputed organisations with arrangements for recovery from salaries. It also extends short-term finance by way of bill finance to corporate clients.