The Company was incorporated in 1991 as Indrakeela Finance Private Limited, with the objective of financing to purchase of Trucks, Tractors, Cars and Multi Utility Vehicles. 

In 1994 the Company was converted from a Private Company to a Public Limited Company under the name IKF Finance & Investments Limited. In 1998, with the goal of primarily focusing on the financing activities the Company’s name was changed to IKF Finance Limited.

As a result of its rapid growth the Company went for a public issue in 1995, a Rights Issue in 1998 and a Preferential Issue in 2003, 2007 & 2011.

The Company's shares were listed in The Bombay Stock Exchange, Mumbai.