The company was incorporated in 1991 as Indrakeela Finance Private Limited, with the objective of financing the purchase of commercial vehicles, tractors, cars and multi-utility vehicles. It transitioned from a Private Company to a Public Limited Company in 1994 and the name was changed to IKF Finance & Investments Limited. Then in 1998, with the goal of primarily focussing on financing activities, the company’s name was changed once more to IKF Finance Limited.

As IKF Finance grew rapidly, it went in for a Public Issue in 1995, a Rights Issue in 1998 and a Preferential Issue in 2003, 2007, 2011 and 2013. The Company’s Equity Shares were listed on BSE Limited (Scrip Code: 530719).