Incorporated as Royal Financial (India) Limited on 14th Oct'94 was later changed to Royal Finance Limited and obtained change of name certificate on 4th Jan'95. It was promoted by Ismail G Memon, Arif I Memon, Salim I Memon and Shabnam A Memon. Presently the company is engaged in the business of leasing, hire-purchase, bill discounting and intercorporate deposits. During the year Jan'96, company came out with an public issue of 69,50,000 equity shares of Rs. 10/- each for cash at par, aggregating to Rs. 695 lacs to finance the cost of proposed activities like leasing, hire purchase, bill discounting, intercorporate deposits, etc.