Indiabulls Financial Services

Indiabulls Financial Services Limited was incorporated on January 10,
 2000 as M/s Orbis Infotech Private Limited at New Delhi under the
 Companies Act, 1956 with Registration No. 55 - 103183. The name of 
 Company was changed to M/s. Indiabulls Financial Services Private
 Limited on March 16, 2001 due to change in the main objects of the
 Company from Infotech business to Investment & Financial Services
 business. It became a Public Limited Company on February 27, 2004
 and
 the name of Company was changed to M/s. Indiabulls Financial
 Services Limited. The Company was promoted by three engineers from
 IIT
 Delhi, and has attracted more than Rs.700 million as investments
 from
 venture capital, private equity and institutional investors such as
 LNM
 India Internet Ventures Ltd., Transatlantic Corporation Ltd.,
 Farallon
 Capital Partners, L.P., R R Capital Partners L.P., and Infinity
 Technology Trustee Pvt. Ltd. and has developed significant
 relationships with large commercial banks such as Citibank, HDFC
 Bank,
 Union Bank, ICICI Bank, ABN Amro Bank, Standard Chartered Bank, Lord
 Krishna Bank and IL&FS. The Company and its subsidiaries have
 facilities from the above mentioned banks and financial institutions
 aggregating to Rs. 1760 million. The Company headquarters are
 co-located in Mumbai and
 Delhi, allowing it to access the two most important regions for
 Indian
 financial markets, the Western region including Mumbai, rest of
 Maharashtra and Gujarat; and the Northern region, including the
 National Capital Territory of Delhi, nearby cities, parts of
 Haryana,
 Uttar Pradesh and Punjab; and access the highly skilled and educated
 workforce in these cities. The Marketing and Sales efforts are
 headquartered out of Mumbai, with a regional headquarter in Delhi;
 and
 its back office, risk management, internal finances etc. are
 headquartered out of Delhi, allowing The Company to scale these
 processes efficiently for the nationwide network,
 
 - Indiabulls Financial Services Ltd fixes an issue price of Rs 19 per
 share for its initial public offering (IPO), which was oversubscribed
 18.5 times.Indiabulls Financial Services IPO closed on September 10,
 with an impressive response from all categories of investors. The
 book was finally subscribed 18.5 times with over 1.3 lakh bids. The
 institutional portion was subscribed more than 12 times, the retail
 portion 25 times and the non-institutional portion 24 times.