Indiabulls
Indian financial services conglomerate From Wikipedia, the free encyclopedia
The Indiabulls Group is an Indian conglomerate headquartered in Gurgaon, whose primary businesses are financial services, construction-equipment rentals, and LED lighting.[1][2]
 | |
Indiabulls Gurgaon HQ | |
| Company type | Corporate group |
|---|---|
| Industry | Conglomerate |
| Founded | January 2000 |
| Headquarters | Indiabulls House, Udyog Vihar, Gurgaon, Haryana, India |
Key people |
|
| Services | Financial services Construction equipment leasing LED lights and facilities |
| Website | www |
History
Summarize
Perspective
Indiabulls was started in 2000 with the establishment of Indiabulls Financial Services, a stockbroking firm co-founded by IIT Delhi graduate–Sameer Gehlaut.[3][4] Indiabulls Financial Services subsequently set up subsidiaries in stockbroking, consumer finance, housing finance and real estate, among others.[5]
In 2004, Indiabulls Financial Services became a publicly-listed company after its initial public offering.[6] Indiabulls Real Estate was demerged from the company in 2006,[7] and Indiabulls Securities in 2008.[8]
In 2013, Indiabulls Financial Services reverse merged with its wholly-owned subsidiary, Indiabulls Housing Finance, to form the flagship company of the group.[9]
In 2014, the group was split between the three promoters with Sameer Gehlaut retaining management control over Indiabulls Housing Finance, Indiabulls Real Estate, Indiabulls Securities and Indiabulls Wholesale Services, while Rajiv Rattan and Saurabh Mittal obtained control of Indiabulls Power (renamed RattanIndia Power) and Indiabulls Infrastructure (renamed RattanIndia Infrastructure).[10]
By 2017, Indiabulls Housing Finance had become the second-largest housing finance company in India[11] and was included in the NIFTY 50 benchmark index.[12] However, between late 2018 and 2019, its shares and bonds experienced a sharp decline in value due to a credit market crisis triggered by the collapse of IL&FS, the company's shrinking balance sheet, allegations of fraud by group promoters, and a proposed merger with the beleaguered Lakshmi Vilas Bank, which fell through.[13]
In 2020, the group announced that it would exit Indiabulls Real Estate in a merger deal with Embassy Group entities.[14] Sameer Gehlaut stepped down as the chairman of Indiabulls Housing Finance in 2020[15] and ceased to be its promoter in 2023.[16] In July 2024, Indiabulls Housing Finance was renamed as Sammaan Capital, while Indiabulls Real Estate was renamed as Equinox India Developments.[17]
Group companies
Equity shares of the companies are listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).[18]
- Dhani Services (formerly Indiabulls Ventures or Indiabulls Securities)[19]
- Indiabulls Enterprises
- Yaari Digital Integrated Services (formerly Indiabulls Integrated Services or Indiabulls Wholesale Services)[22]
Former group companies
- Indiabulls Housing Finance, rebranded as Sammaan Capital in 2024[23]
- Indiabulls Real Estate, rebranded as Equinox India Developments in 2024
- Indiabulls AMC, rebranded as Groww AMC in 2023[24]
- Indiabulls Power, rebranded as RattanIndia Power in 2014
- Indiabulls Infrastructure, rebranded as RattanIndia Infrastructure in 2014
References
External links
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