Indiabulls

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Indiabulls
Company typeConglomer ate
IndustryFinancial services
FoundedJanuary 2000
HeadquartersIndiabulls House, Udyog Vihar, Gurugram, Haryana, India
Key people
  • Sameer Gehlaut (Chairman & Founder)
  • Abhishek Singh Chauhan (Vice-Chairman & MD)
ProductsFinancial services
Real estate
Pharmaceutical
Construction equipment leasing
LED lights and facilities sector
Divisions
Websitewww.indiabulls.com
Old logo of Indiabulls

The Indiabulls Group is an Indian conglomerate headquartered in Gurugram, whose primary businesses are housing finance, consumer finance, and real estate. The group also has a presence in wealth management, construction equipment rentals, pharmaceuticals, and LED lighting.[1][2]

History[edit]

Indiabulls was started in 2000 with the establishment of Indiabulls Financial Services, a stockbroking firm co-founded by three IIT Delhi graduates–Sameer Gehlaut, Rajiv Rattan and Saurabh Mittal.[3][4] Indiabulls Financial Services subsequently went on to 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] whereas Indiabulls Securities was demerged 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 2021, Groww acquired Indiabulls AMC, the mutual funds business of the group, for ₹175 crore.[17]

Listed companies[edit]

Equity shares of the companies are listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).[18]

  • Indiabulls Housing Finance[19]
  • Dhani Services (formerly Indiabulls Ventures or Indiabulls Securities)[20]
  • Indiabulls Real Estate[21]
  • Indiabulls Enterprises (including Indiabulls Store One,[22] Indiabulls LED,[23] Indiabulls Pharmaceuticals[24])
  • Yaari Digital Integrated Services (formerly Indiabulls Integrated Services or Indiabulls Wholesale Services)[25]

References[edit]

  1. ^ Karthik, Hamsini (2 October 2023). "Indiabulls to be renamed as Samman Capital; will let go HFC tag and operate as NBFC". BusinessLine. Retrieved 19 April 2024.
  2. ^ "Indiabulls set to launch operations in Gulf countries". The Economic Times. 13 June 2013. Retrieved 19 April 2024.
  3. ^ "Ransomware allegedly hits Indiabulls Group: Cyble". The Economic Times. Archived from the original on 17 November 2020. Retrieved 22 August 2020.
  4. ^ "The Rs 29,000-crore surprise". Business Today. 4 October 2007. Retrieved 2 August 2023.
  5. ^ "Indiabulls set for revamp". The Times of India. 5 February 2007. Retrieved 2 August 2023.
  6. ^ "Indiabulls IPO at Rs 19". The Telegraph. Retrieved 2 August 2023.
  7. ^ "Indiabulls to demerge its real estate business". The Economic Times. 2 May 2006. Retrieved 2 August 2023.
  8. ^ "Indiabulls Financial slips on hiving off securities biz". The Economic Times. 1 January 2008. Retrieved 2 August 2023.
  9. ^ "Indiabulls Financial Services completes reverse merger". Business Standard. Retrieved 2 August 2023.
  10. ^ "Indiabulls' three promoters split Rs 8.8k cr group". The Times of India. 10 July 2014. Retrieved 2 August 2023.
  11. ^ "Indiabulls HF appoints Mundra as a director". The Hindu. 19 August 2018. Retrieved 8 September 2023.
  12. ^ "IOC, IBHFL to replace Idea, BHEL in NSE Nifty50 from March 31". Business Standard. Retrieved 8 September 2023.
  13. ^ "Indiabulls Housing: Sameer Gehlaut Sells Half His Stake, Plans on Exiting the Board by Fiscal End". The Wire. Retrieved 8 September 2023.
  14. ^ Priolker, Ashwini (18 August 2020). "Indiabulls Real Estate Approves Share-Swap Ratio For Merger With Embassy Group". BQ Prime. Retrieved 9 September 2023.
  15. ^ "Gehlaut steps down as chief of Indiabulls Housing Finance". The Times of India. 13 August 2020. Retrieved 10 September 2023.
  16. ^ "Exchanges approve reclassification of Indiabulls Housing promoter Sameer Gehlaut to public". CNBC TV18. 23 February 2023. Retrieved 10 September 2023.
  17. ^ "Zerodha-rival Groww gets approval to acquire Indiabulls mutual fund business". mint. 10 September 2021. Archived from the original on 19 November 2021. Retrieved 19 November 2021.
  18. ^ "Indiabulls forays in Car Loan Business". Business Standard News. Archived from the original on 13 February 2019. Retrieved 12 February 2019.
  19. ^ "Indiabulls Housing Finance increase home loan interest rates by 20bps". India Infoline. Archived from the original on 12 February 2019. Retrieved 11 February 2019.
  20. ^ "Indiabulls Ventures' subsidiary launches mobile application 'Dhani App'". Business Standard News. Archived from the original on 12 February 2019. Retrieved 11 February 2019.
  21. ^ "INDIABULLS REAL ESTATE LTD". Business Standard News. Archived from the original on 13 February 2019. Retrieved 12 February 2019.
  22. ^ "SORIL Infra Resources History". The Economic Times. Archived from the original on 19 November 2021. Retrieved 19 November 2021.
  23. ^ Sapam, Bidya (25 May 2017). "Indiabulls Group enters LED lighting business". mint. Archived from the original on 19 November 2021. Retrieved 19 November 2021.
  24. ^ "Indiabulls Pharma receives Rs 155 crore investment from Clermont Group". The Economic Times. Archived from the original on 19 November 2021. Retrieved 19 November 2021.
  25. ^ "Sebi exempts Sameer Gehlaut IIS Trust from open offer obligation". The Financial Express. 19 March 2021. Archived from the original on 22 November 2021. Retrieved 22 November 2021.

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