Promoted by Bharat Bhusan Gupta, TSL Industries Limited was incorporated in the name of Rosy Credit & Finance Private Limited., on 22nd Sep.'94 and converted into a public limited company in Jan.'95. It later on acquired the name as Transnation Securities Limited in Jun'95. Its activities include leasing, hire purchase, consumer financing investment in shares and securities, debenture, bonds, mutual funds bridge financing, bill discounting national and international capital market operations foreign exchange dealings and money changes, operations in money market, merchant bankers & to provide management consultancy services relating to prepration of accounting manuals. In feb.'96, the company came out with a public issue of Rs 3 cr to part finance the proposed expansion programme, to strengthen activities in the area of leasing, investment, short term financing & also increase its long term resources to meet the needs of its expanding business by infusion of long-term funds.