AFII launches Customer Empowerment Initiative for Ashok Leyland

AFII today launched in a function in Jalandhar a new initiative for financial empowerment of customers for Commercial Vehicles of Ashok Leyland Limited under which AFII shall arrange financial support for all those who evince interest in purchase of an Ashok Leyland Vehicle. The launch is supported by State Bank of India, State Bank of Patiala and Oriental Insurance Company. AFII targets a turnover in this segment of over Rs.2000 Crores in its first year of operations.

Jalandhar, Punjab, October 9, 2007 /India PRwire/ -- AFII has launched a new initiative for financial empowerment of customers for Commercial Vehicles inassociation with Ashok Leyland Limited (ALL), the Chennai based Hinduja Group Company. It has flagged off a unique services package for the ALL customers under which AFII shall arrange financial support for all who visit dealerships or those who evince interest in purchase of an Ashok Leyland Vehicle. The advantage to the customers is that they will get knowledge, access and choice from available financing options for the vehicles.

In phase one, AFII is launching these services in Northern Region including J&K, Punjab, Rajasthan, Himachal Pradesh, Haryana and NCR Region extending up to Agra and Aligarh. It proposes to cover Eastern and Western India also by June 2008 and target a gross turnover in this segment of over Rs.2000 Crores in its first year of operations. With available market of Ashok Leyland Vehicles alone in excess of Rs.9000 Crores, there is ample scope of growth and development for this Customer Empowerment Initiative of AFII. For this effort AFII plans to recruit and train over 100 employees dedicated to customer facilitation for ALL.

Speaking at the launch in Jalandhar, Mr. Sriniwasan Anand, Head Sales Financing for Ashok Leyland noted that with this unique effort, CV Customers will now be able to raise finance for vehicles from the more economical Nationalized Banks with much more ease and at substantially lower interest rates which are at least 1.5% to 2.5% less than the nearest competition.

AFII was appointed by State Bank of India (India's largest Bank with over 9400 Branches) in January 2006 as “National Facilitation Agency for Channel Financing”. It now manages a Pan India operation with some of the largest Industry Majors as its clients. These include Ashok Leyland and Eicher Motors in the Commercial Vehicle Segment.

AFII is a boutique consulting firm operating in the Mid-Cap to Large-Cap market, focusing attention on ways and means to add value to the financial acumen of an already advanced corporate. AFII is led by Dr. Mahesh Gandhi a young Chartered Accountant with a Doctorate in Corporate Finance. He is ably assisted by a unique all women team in its Investment Banking Group and an aggressive team in the Trade Finance Division.

AFII has successfully carried out transactions in Structured Finance, Mortgages, Securitization, arrangement of Strategic Collaborations including marketing tie-ups abroad, Colonization Finance & Collaborations, Infrastructure Finance & Collaborations, Business Aviation Finance & Strategic Partnerships for Operators, Charter etc.

Talking on the occassion Dr. Gandhi informed that AFII is currently advising Private Investors from Europe and the US for channeling Private Equity in Real Estate, Infrastructure and Energy sectors. It has advised globally on such transactions of value greater than USD1Bn during the previous year and is looking to achieve over 100% growth in the following 12 months with special emphasis on Energy sectors. AFII is actively exploring Joint Ventures and associations for investment in small and medium power projects (50Mw to 200 Mw) where it is representing major investors from Southern Europe and USA for such projects’ development in India.

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