SENSEX NIFTY
IIFL Holdings > Company History > Finance - General > Company History of IIFL Holdings - BSE: 532636, NSE: IIFL
YOU ARE HERE > MONEYCONTROL > MARKETS > FINANCE - GENERAL > COMPANY BACKGROUND - IIFL Holdings
IIFL Holdings
BSE: 532636|NSE: IIFL|ISIN: INE530B01024|SECTOR: Finance - General
SET ALERT
|
ADD TO PORTFOLIO
|
WATCHLIST
LIVE
BSE
Oct 01, 16:15
150.60
0.55 (0.37%)
VOLUME 7,489
LIVE
NSE
Oct 01, 16:15
151.60
1.3 (0.86%)
VOLUME 142,718
Company History - IIFL Holdings
We were originally incorporated on October 18, 1995 as Probity
 Research
 and Services Private Limited at Mumbai under the Companies Act, 1956
 with Registration No. 11 93797. We commenced our operations as an
 independent provider of information, analysis and research covering
 Indian businesses, financial markets and economy, to institutional
 customers. We became a public limited company on April 28, 2000 and
 the
 name of the Company was changed to Probity Research and Services
 Limited. The name of the Company was changed to India Infoline.com
 Limited on May 23, 2000 and later to India Infoline Limited on March
 23, 2001.
 
 In 1999, we identified the potential of the Internet to cater to a
 mass
 retail segment and transformed our business model from providing
 information services to institutional customers to retail customers.
 Hence we launched our Internet portal, www.indiainfoline.com in May
 1999 and started providing news and market information, independent
 research, interviews with business leaders and other specialized
 features.
 
 In May 2000, the name of our Company was changed to India
 Infoline.com
 Limited to reflect the transformation of our business. Over a period
 of
 time, we have emerged as one of the leading business and financial
 information services provider in India.
 
 In the year 2000, we leveraged our position as a provider of
 financial
 information and analysis by diversifying into transactional
 services,
 primarily for online trading in shares and securities and online as
 well as offline distribution of personal financial products, like
 mutual funds and RBI Bonds. These activities were carried on by our
 wholly owned subsidiaries.
 
 Our broking services was launched under the brand name of 5paisa.com
 through our subsidiary, India Infoline Securities Private Limited
 and
 www.5paisa.com, the e-broking portal, was launched for online
 trading
 in July 2000. It combined competitive brokerage rates and research,
 supported by Internet technology Besides investment advice from an
 experienced team of research analysts, we also offer real time stock
 quotes, market news and price charts with multiple tools for
 technical
 analysis.
 
 Acquisition of Agri Marketing Services Limited (Agri)
 
 In March 2000, we acquired 100% of the equity shares of Agri
 Marketing
 Services Limited, from their owners in exchange for the issuance of
 508,482 of our equity shares. Agri was a direct selling agent of
 personal financial products including mutual funds, fixed deposits,
 corporate bonds and post-office instruments. At the time of our
 acquisition, Agri operated 32 branches in South and West India
 serving
 more than 30,000 customers with a staff of, approximately 180
 employees. After the acquisition, we changed the company name to
 India
 Infoline.com Distribution Company Limited.
 
 Facilities
 
 Our main offices are located in approximately 4,000 square feet of
 office space located in Mumbai, India. Our India Infoline Branches
 collectively occupy an additional 10,000 square feet of office space
 located throughout India, As on March 31, 2005, we have 73 branches
 across 36 locations in India.
 
 The table below shows the changes in the Registered Office of the
 Company since Incorporation:
 
 Previous Address           New Address                   Date of
 Change 
 
 208-C, Agarwal Market,     1, Snehdeep, Gokhale Road,    August 6,
 1999     
 Vile Pane (East),             Vile Parle (East),
 Mumbai - 400 057.             Mumbai - 400 057,
 
 1, Snehdeep, Gokhale Road,    Building No. 24, 1st floor, Jan.,15,
 2001    
    Vile Parle (East),         Nirlon Complex,
    Mumbai - 400 057.          Off Western Express Highway,
                               Goregaon (E),
                               Mumbai - 400 0063.
 
 Reason for Change
 
 Requirement of more floor space.
 Requirement of more floor space.
 
 The instances when the name of the Company was changed are cited
 below:
 
 Previous Name                 New Name   
 
 Probity Research and          Probity Research and            
 Services Private-Limited      Services Limited                
 
 Probity Research and          India Infoline.com Limited      
 Services Limited                                              
                                                               
 India Infoline.com Limited    India Infoline Limited          
 
 Date of Change       Reason for Change
 
 April 28, 2000       Conversion from Private Limited to
                      Public Limited Company
 
 May 23, 2000         To focus on the retail financial
                      intermediary business through an
                      online set-up.
 
 March 23, 2001       To focus on the retail financial
                      intermediary business through offline
                      as well as online set-up.      
 Milestones
 1995 
 -Incorporated as an equity research and consulting firm with a client
 base that included leading FIIs, banks, consulting firms and
 corporates. 
 1999 
 -Restructured the business model to embrace the internet; launched
 archives.indiainfoline.com mobilised capital from reputed private
 equity investors.
 2000 
 -Commenced the distribution of personal financial products; launched
 online equity trading; entered life insurance distribution as a
 corporate agent. Acknowledged by Forbes as ‘Best of the Web’ and
 ‘...must read for investors’. 
 2004 
 -Acquired commodities broking license; launched Portfolio Management
 Service. 
 
 2005
 - Listed on the Indian stock markets
 
 - India Infoline  fixes a price band between Rs 70 and Rs 80 for its
 forthcoming public issue. The company is coming out with public issue
 of 1.18 crore shares with a face value of Rs 10 through the book
 building route. The issue is slated to open on April 21 and close on
 April 27.  Enam Financial Consultants Private Ltd would be the sole
 book running lead manager to the issue while Intime Spectrum Registry
 Ltd is the registrar to the issue.
 
 -India Infoline public issue gets 6.6 times oversubscription
 
 -IIL appoints R Mohan as VP
 
 -India Infoline Ltd has informed that the Company has entered into a
 advertising agreement with Times Group where in the Company and other
 group companies would spend about Rupees Thirty Crores over the next 5
 years in print as well as non print media of The Times Group.
 
 -India Infoline to buy 75-pc stake in Moneytree
 
 2006
 
 -India Infoline launches exclusive SMS Value Added Service
 
 -India Infoline enters into strategic agreement with Saraswat Bank
 
 -India Infoline to launch stock trading on cell phones
 
 -Indiainfoline to roll out MCX, NCDEX, DGCX software
 -Acquired membership of DGCX; launched investment banking services
 
 2007 
 -Launched a proprietary trading platform; inducted an institutional
 equities team; formed a Singapore subsidiary; raised over USD 300 mn
 in the group; launched consumer finance business under the
 ‘Moneyline’ brand. 
 
 2008
 -Launched wealth management services under the ‘IIFL Wealth’ brand;
 set up India Infoline Private Equity fund; received the Insurance
 broking license from IRDA; received the venture capital license;
 received inprinciple approval to sponsor a mutual fund; received
 ‘Best broker- India’ award from FinanceAsia; ‘Most Improved
 Brokerage- India’ award from Asiamoney. 
 
 - India Infoline Ltd has informed that the Board of Directors of the
 Company have vide circular resolution passed on March 10, 2008
 approved the appointment of Mr. A K Purwar, ex-Chairman of the State
 Bank of India, as an independent director on the Board of the
 Company.
 
 -  India Infoline Ltd has informed that pursuant to the resignation
 of Mr. Nimish Mehta, Company Secretary and Compliance Officer of the
 Company. Ms. Falguni Sanghvi has been appointed as the Company
 Secretary with effect from October 07, 2008.
 
 - The Company has splits its face value from Rs10/- to Rs2/-.
 
 
 2009 
 -Received registration for a housing finance company from the
 National Housing Bank; received ‘Fastest growing Equity Broking House
 - Large firms’ in India by Dun & Bradstreet. 
 
 
 2010
 
 -Received in-principle approval for membership of the Singapore Stock
 Exchange 
 
 -Received membership of the Colombo Stock Exchange
 
 2011
 
 -Launched IIFL Mutual Fund.
 
 -IIFL got SEBI nod for Mutual Fund business.
 
 -IIFL announces launch of its 'LifeTime Prepaid, AnyTime Money back'
 brokerage product
 
 2012
 
 -PFRDA appoints India Infoline Finance Ltd (IIFL) as Points of
 Presence (PoP) under New Pension System (NPS).
 
 -Dr. S. Narayan as an Additional Director of the Company. He will be
 an Independent Director on the Board of the Company.
 
 
Source : Dion Global Solutions Limited
Quick Links for IIFL Holdings
Explore Moneycontrol
Stocks     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | Others
Mutual Funds     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.