TheIndiabullsGroup is an Indianconglomerateheadquartered inGurgaon,whose primary businesses are financial services, construction-equipment rentals, andLED lighting.[1][2]
 | |
| 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
editIndiabulls was started in 2000 with the establishment of Indiabulls Financial Services, a stockbroking firm co-founded by threeIIT Delhigraduates–Sameer Gehlaut,Rajiv RattanandSaurabh Mittal.[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 apublicly-listed companyafter itsinitial public offering.[6]Indiabulls Real Estate wasdemergedfrom 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 threepromoterswith 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 theNIFTY 50benchmark 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 ofIL&FS,the company's shrinkingbalance sheet,allegations of fraud by group promoters, and a proposed merger with the beleagueredLakshmi Vilas Bank,which fell through.[13]
In 2020, the group announced that it would exit Indiabulls Real Estate in a merger deal withEmbassy Groupentities.[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
editEquity shares of the companies are listed on theBombay Stock Exchange(BSE) and theNational 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
edit- 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 asRattanIndiaPower in 2014
- Indiabulls Infrastructure, rebranded asRattanIndiaInfrastructure in 2014
References
edit- ^Karthik, Hamsini (2 October 2023)."Indiabulls to be renamed as Samman Capital; will let go HFC tag and operate as NBFC".BusinessLine.Retrieved19 April2024.
- ^"Indiabulls set to launch operations in Gulf countries".The Economic Times.13 June 2013.Retrieved19 April2024.
- ^"Ransomware allegedly hits Indiabulls Group: Cyble".The Economic Times.Archivedfrom the original on 17 November 2020.Retrieved22 August2020.
- ^"The Rs 29,000-crore surprise".Business Today.4 October 2007.Retrieved2 August2023.
- ^"Indiabulls set for revamp".The Times of India.5 February 2007.Retrieved2 August2023.
- ^"Indiabulls IPO at Rs 19".The Telegraph.Retrieved2 August2023.
- ^"Indiabulls to demerge its real estate business".The Economic Times.2 May 2006.Retrieved2 August2023.
- ^"Indiabulls Financial slips on hiving off securities biz".The Economic Times.1 January 2008.Retrieved2 August2023.
- ^"Indiabulls Financial Services completes reverse merger".Business Standard.Retrieved2 August2023.
- ^"Indiabulls' three promoters split Rs 8.8k cr group".The Times of India.10 July 2014.Retrieved2 August2023.
- ^"Indiabulls HF appoints Mundra as a director".The Hindu.19 August 2018.Retrieved8 September2023.
- ^"IOC, IBHFL to replace Idea, BHEL in NSE Nifty50 from March 31".Business Standard.Retrieved8 September2023.
- ^"Indiabulls Housing: Sameer Gehlaut Sells Half His Stake, Plans on Exiting the Board by Fiscal End".The Wire.Retrieved8 September2023.
- ^Priolker, Ashwini (18 August 2020)."Indiabulls Real Estate Approves Share-Swap Ratio For Merger With Embassy Group".BQ Prime.Retrieved9 September2023.
- ^"Gehlaut steps down as chief of Indiabulls Housing Finance".The Times of India.13 August 2020.Retrieved10 September2023.
- ^"Exchanges approve reclassification of Indiabulls Housing promoter Sameer Gehlaut to public".CNBC TV18.23 February 2023.Retrieved10 September2023.
- ^Jayaraj, Prajwal (3 July 2024)."Indiabulls Real Estate To Be Renamed As Equinox India Developments".NDTV Profit.Retrieved22 October2024.
- ^"Indiabulls forays in Car Loan Business".Business Standard News.Archivedfrom the original on 13 February 2019.Retrieved12 February2019.
- ^"Indiabulls Ventures' subsidiary launches mobile application 'Dhani App'".Business Standard News.Archivedfrom the original on 12 February 2019.Retrieved11 February2019.
- ^"SORIL Infra Resources History".The Economic Times.Archivedfrom the original on 19 November 2021.Retrieved19 November2021.
- ^Sapam, Bidya (25 May 2017)."Indiabulls Group enters LED lighting business".mint.Archivedfrom the original on 19 November 2021.Retrieved19 November2021.
- ^"Sebi exempts Sameer Gehlaut IIS Trust from open offer obligation".The Financial Express.19 March 2021.Archivedfrom the original on 22 November 2021.Retrieved22 November2021.
- ^"Indiabulls Housing Finance rebrands themselves as Sammaan Capital".CNBC TV18.
- ^"Indiabulls Mutual Fund to become Groww MF soon: Here's all you need to know - CNBC TV18".CNBCTV18.21 March 2023.Retrieved22 October2024.