Vax Finance Limited (VFL) was incorporated as a public limited company on Sept.'94. It was promoted by Vijaysingh Rathore, Kailash Gupta & Suryakant Vithlani. The company is presently engaged in the business of investment and trading in shares and securities. The company now proposes to expand its present activities and undertake certain new activities such as leasing, hire purchase, bill discounting etc. and to carry on the business of investment advisors and project consultancy services. In Feb.'96, the company came out with a public issue of Rs. 2.40 cr. to part finance the company's business of asset finance and bill discounting. During the year 1997-98 the Company's name was changed from Vax Finance Limited to Vax Housing Finance Corporation Limited.