Indiabulls Financial Services Ltd is one of the Indias leading and fastest growing private sector financial services companies in India providing Home Loans, Consumer Vehicle Loans, Loans to SMEs and Business Loans. The company, along with their subsidiaries, is engaged in investing and finance related activities (investing in various subsidiaries, financing of loans and credit activities) and fee income, which mainly comprises of financial service related fee based advisory services income, selling of insurance products as a licensed corporate agent, and other related ancillary services.The company is also engaged in investment/ dealing in securities. Their financing activities include offering of various lending products, such as individual home mortgages and other housing loans; secured and unsecured commercial loans to SME; loans against shares; secured commercial vehicle and tractor loans, and loans to retail Indian investors subscribing to registered equity offerings.The company serves more than 500,000 customers across different financial products through their branch network, call centers & the internet. They have their presence in 140 locations in India, spread across 18 states and union territory. The company ranks among the top private sector financial services and banking groups in terms of net worth. They are amongst 68 companies constituting MSCI - Morgan Stanley India Index. Also, the company is part of CLSAs model portfolio of 30 Best Companies in Asia.Indiabulls Financial Services Ltd was incorporated on January 10, 2000 as a private limited company with the name Orbis Infotech Pvt Ltd. In March 16, 2001, the name of the company was changed from Orbis Infotech Pvt Ltd to Indiabulls Financial Services Pvt Ltd due to the change in main objects of the company from Infotech business to Investment & Financial Services business.In March 30, 2001, the company was registered as an NBFC to carry on the business of NBFC, not accepting public deposits, as the company is a holding company. Subsequently, the company started investing and providing loans to their subsidiary companies engaged in different activities. During the year 2002-03, the company expanded their service offering to Equity, F&O, Wholesale Debt, Mutual fund, IPO distribution and Equity Research. During the year 2003-04, the company ventured into insurance distribution and commodities trading. In February 27, 2004, the company was converted into public limited company and the name was changed to Indiabulls Financial Services Ltd. The company commenced the activity of providing credit facilities to retail customers with effect from April 1, 2004. During the year 2004-05, they started their consumer finance business. Also, they entered the Indian Real Estate market and became the first company to bring FDI in Indian Real Estate. During the year 2006-07, the company completed the de-merger of their real estate business into a separate publicly traded company, Indiabulls Real Estate Ltd. Also, they acquired the minority interests in their mortgage subsidiary, Indiabulls Housing Finance Ltd, and thus increased their ownership to 100% in the fast growing mortgage and loans against property business. During the year 2007-08, the company restructured their business operations through a scheme of arrangement, in which Indiabulls Credit Services Ltd was amalgamated with the company with effect from April 1, 2007. Also, the company de-merged the securities broking and advisory business as a going concern to Indiabulls Securities Ltd with effect from April 01, 2007.During the year, the company received the in-principle approval from SEBI for their Asset Management business. In April 2008, the company entered into a joint venture agreement with Sogecap, the life insurance subsidiary of Societe Generale of France for their upcoming life insurance venture.During the year 2009-10, the company set up Indias fourth Multi Commodities Exchange, ICEX (Indian Commodity Exchange Ltd) in partnership with MMTC Ltd, the largest international trading house in India. National Commodity Exchange went live on November 27, 2009. During the year, the company and Sogecap, the life insurance subsidiary of Societe Generale of France, mutually agreed not to pursue the life insurance joint venture in India, for which they had entered into a joint venture agreement in April 2008. In June 2010, the company invested Rs 15 lakh in one of their newly formed wholly owned subsidiary, Indiabulls Holdings Ltd. Also, the company divested two of their wholly owned subsidiaries with a share capital of Rs 5.00 lakh each to Indiabulls Holdings Ltd.In January 2011, the company sold 26% stake in Indian Commodity Exchange Ltd (ICEX) to Reliance Exchangenext Ltd. The company now holds 14% stake in ICEX. In March 24, 2011, Securities and Exchange Board of India (SEBI) granted its Certificate of Registration to Indiabulls Mutual Fund, sponsored by the company. SEBI also granted its approval to Indiabulls Asset Management Company Ltd, a 100% subsidiary of the company to act as Asset Management Company to Indiabulls Mutual Fund.
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