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.