Banas Finance

What Banas Finance does

Banas Finance Limited is a publicly listed Indian Non-Banking Finance Company (NBFC) registered with the Reserve Bank of India since 1999 (BSE stock code 509053, ticker BANASFN). The company provides asset-based financing services to business entities, including hire purchase financing for equipment, machinery, vehicles, and other assets; leasing of plants, machinery, motor vehicles, boats, aircraft, and other equipment; factoring and bill discounting services; and investment and trading activities in shares, stocks, and securities. Its registered office is located in Andheri (West), Mumbai, and operations are confined to a single domestic market in India.

The company has a lean organizational structure, with a small named management team headed by Mr. Girraj Kishor Agrawal (Executive Director, Chartered Accountant) and Mrs. Tanu Giriraj Agarwal (Executive Director & CEO), supported by independent and non-executive directors and a Company Secretary. Its go-to-market is sales-led and direct, engaging business customers for loans, leasing, factoring, and deferred payment transactions. Pricing is quote-based and not publicly disclosed, with revenue derived from transaction fees on hire purchase and factoring, recurring income from leasing operations, and transaction-based income from investment and trading activities. The underlying technology stack is minimal — there is no mobile app, no public API, no disclosed proprietary platform, and the corporate website is hosted on WordPress.

Recent corporate history includes a scheme of amalgamation approved by NCLT Mumbai in August 2020, periodic rights issues in 2022 and 2024, and multiple leadership changes through 2025-2026 (including CFO resignation, director resignation, secretarial auditor resignation, and a change-in-management filing). The business is compliance-driven, with regular SEBI LODR filings and BSE disclosures, but shows no signals of geographic expansion, product launches, partnerships, or material headcount growth.

Name

Banas Finance

Legal name

Banas Finance Limited

Website

https://banasfinance.wordpress.com

Company type

Public

Founded year

1983

Operating status

Operating

Headcount range

1–10 employees

Short description

Banas Finance Limited is a publicly listed Indian NBFC offering hire purchase financing, leasing, factoring, and investment/trading services to business entities requiring asset-based financing across equipment, machinery, vehicles, and other assets, operating domestically from Mumbai.

Ownership category

akta.pro rank

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Others

Revenue model

1. Hire Purchase Finance: Revenue generated from financing the purchase of equipment, machinery, vehicles, and other assets through hire purchase arrangements with deferred payment terms.
2. Leasing Operations: Income from leasing of plants, machinery, motor vehicles, boats, aircrafts, and other equipment to businesses.
3. Factoring Services: Factoring and bill discounting services generating fee-based revenue.
4. Investment and Trading: Income from investments in shares, stocks, securities, and financial trading operations.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Banas Finance Limited is a Non Banking Finance Company (NBFC) that provides hire purchase financing, leasing of plants, machinery, motor vehicles, boats, aircraft, and computers, as well as factoring and bill discounting services. It also extends short and long-term loans, Inter Corporate Deposits (ICDs), project financing, and engages in investment in shares, stocks, and securities. The company serves business entities in the Indian domestic market through direct engagement arrangements.

Product overview

Banas Finance Limited is a single product NBFC (Non Banking Finance Company) offering financial services including leasing, factoring, hire-purchase financing, and investment banking services. The company provides financing for various assets including plants and machinery, motor vehicles, vessels, aircraft, and computers, while also engaging in investment activities in shares, stocks, and securities.

Differentiator

Problem solved

Functional benefit

Products and services

• Hire Purchase Finance Financing the purchase of equipment, machinery, vehicles, and other assets through hire purchase arrangements with deferred payment terms, targeted at business entities in India.
• Leasing Services Leasing of plants, machinery, motor vehicles, boats, aircraft, automobiles, computers, and other equipment to businesses on subscription/recurring terms in India.
• Factoring and Bill Discounting Factoring and bill discounting services providing working capital support and fee-based revenue for businesses managing receivables in India.
• Inter Corporate Deposits (ICDs) Inter Corporate Deposits offering short-term funding between corporate entities as part of the company's corporate finance suite.
• Project Financing Project financing for businesses undertaking capital projects, part of the company's broader corporate finance offerings.
• Short and Long Term Loans Short-term and long-term loans extended to business entities as part of Banas Finance's NBFC lending operations in India.
• Investment in Shares, Stocks and Securities Investment and trading activities in shares, stocks, and securities, generating investment income as part of the company's NBFC operations.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators2 records

Recent moves7 records

Expansion highlights3 records

Direct peers

• Mahindra & Mahindra Financial Services: Large Indian NBFC focused on vehicle, tractor, and equipment financing for retail and SME borrowers — directly comparable asset-class coverage to Banas.
• Shriram Finance: Diversified Indian NBFC with vehicle finance, equipment financing, and SME lending franchises — overlapping business lines and target segments with Banas Finance.
• Cholamandalam Investment and Finance Company: Leading Indian NBFC focused on vehicle finance, equipment financing, home loans and SME lending; operates in adjacent asset classes and targets similar business customers as Banas Finance.
• Srei Equipment Finance: Historical Indian NBFC specialized in construction equipment and asset financing — directly comparable to Banas' hire purchase / equipment leasing business.
• Bajaj Finance: India's largest non-bank lender offering diversified retail and commercial financing including equipment, vehicle, and SME lending — directly comparable to Banas' NBFC model.
• Sundaram Finance: Long-established Indian NBFC specializing in hire purchase, leasing, and equipment financing — directly comparable to Banas' core leasing/hire-purchase business.
• Magma Fincorp: Indian NBFC focused on vehicle and asset finance for SMEs (now merged into Cholamandalam) — closely comparable customer and product profile to Banas.
• L&T Finance Holdings: Indian NBFC with a significant equipment, infrastructure, and project finance book — comparable to Banas' project financing and equipment leasing activities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat2 records

Key risks1 record

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/banas-finance-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Banas Finance