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IIFL Holdings > Company History > Finance - General > Company History of IIFL Holdings - BSE: 532636, NSE: IIFL

IIFL Holdings

BSE: 532636|NSE: IIFL|ISIN: INE530B01024|SECTOR: Finance - General
Jun 20, 16:00
13.15 (1.88%)
VOLUME 10,638
Jun 20, 15:52
10.75 (1.54%)
VOLUME 693,666
Company History - IIFL Holdings
We were originally incorporated on October 18, 1995 as Probity
 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
 name of the Company was changed to Probity Research and Services
 Limited. The name of the Company was changed to India
 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
 retail segment and transformed our business model from providing
 information services to institutional customers to retail customers.
 Hence we launched our Internet portal, in May
 1999 and started providing news and market information, independent
 research, interviews with business leaders and other specialized
 In May 2000, the name of our Company was changed to India
 Limited to reflect the transformation of our business. Over a period
 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
 information and analysis by diversifying into transactional
 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
 through our subsidiary, India Infoline Securities Private Limited
 and, the e-broking portal, was launched for online
 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
 Acquisition of Agri Marketing Services Limited (Agri)
 In March 2000, we acquired 100% of the equity shares of Agri
 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
 more than 30,000 customers with a staff of, approximately 180
 employees. After the acquisition, we changed the company name to
 India Distribution Company Limited.
 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
 208-C, Agarwal Market,     1, Snehdeep, Gokhale Road,    August 6,
 Vile Pane (East),             Vile Parle (East),
 Mumbai - 400 057.             Mumbai - 400 057,
 1, Snehdeep, Gokhale Road,    Building No. 24, 1st floor, Jan.,15,
    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
 Previous Name                 New Name   
 Probity Research and          Probity Research and            
 Services Private-Limited      Services Limited                
 Probity Research and          India Limited      
 Services Limited                                              
 India 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.      
 -Incorporated as an equity research and consulting firm with a client
 base that included leading FIIs, banks, consulting firms and
 -Restructured the business model to embrace the internet; launched mobilised capital from reputed private
 equity investors.
 -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. 
 -Acquired commodities broking license; launched Portfolio Management
 - 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
 -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
 -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. 
 -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
 -  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/-.
 -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. 
 -Received in-principle approval for membership of the Singapore Stock
 -Received membership of the Colombo Stock Exchange
 -Launched IIFL Mutual Fund.
 -IIFL got SEBI nod for Mutual Fund business.
 -IIFL announces launch of its 'LifeTime Prepaid, AnyTime Money back'
 brokerage product
 -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.
 - IIFL Housing Finance (IIFL HFC) appoints Mr. S. Sridhar as Chairman
 and Mr. Kranti Sinha as Independent Director.
 -IIFL Wealth acquires India Alternatives
 -The Company has changed its name from India Infoline Ltd. to IIFL
 Holdings Ltd.  
 -US launches Airstrikes on Iraq Militants
 -Best in Class! Skoda Superb to be launched in India today
 -Best Wealth Management Firm, India at APAC Insider Investment
 Awards, 2016.
 -Best India Start-Up Fund: Seed Venture Fund at Alternative
 Investment Awards, 2016.
 -IIFL Wealth bags Best Private Bank, India by The Asset Triple A
 Digital Enterprise in 2016.
 -IIFL Wealth wins three new awards at the Euromoney Private Banking
 and Wealth Management Survey, 2016.
 -Digital Innovation Champion Award CIO Crown 2016.
 -IIFL acquired Samasta Microfinance Ltd, a Bengaluru-based micro
 finance institution to enter the microfinance segment and expand its
 -5paisa Capital Limited was listed on NSE and BSE on 16th November,
 2017 - becoming India's first listed Fintech company.
 -IIFL wins NSE Market Achievers Awards 2017 as the best IPO Bidding
 Member - Retail
 -IIFL receives Data Center Innovation award for adopting futuristic
 technology in Data 
 -Golden Peacock Award for Corporate Social Responsibility
 -Best Private Wealth Manager - India & Best India Start-Up Fund: Seed
 Venture, 2017.
Source : Dion Global Solutions Limited
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