The Indiabulls Group is an Indian conglomerate headquartered in

Gurgaon Gurgaon (), officially named Gurugram (), is a satellite city of Delhi and administrative headquarters of Gurgaon district, located in the northern Indian state of Haryana. It is situated near the Delhi–Haryana border, about southwest ...

, whose primary businesses are financial services, construction-equipment rentals, and LED lighting.

History

Indiabulls was started in 2000 with the establishment of Indiabulls Financial Services, a stockbroking firm co-founded by three

IIT Delhi Indian Institute of Technology Delhi (IIT- Delhi) is a public institute of technology located in Delhi, India. It is one of the 23 Indian Institutes of Technology created to be a Centre of Excellence for India's training, research and developme ...

graduates–

Sameer Gehlaut Sameer Gehlaut (born 3 March 1974) is an Indian businessman. He is the founder and chairman of the Indiabulls Group, a diversified financial services group with businesses in housing and consumer finance through independent and listed companies i ...

, Rajiv Rattan and Saurabh Mittal. Indiabulls Financial Services subsequently set up subsidiaries in stockbroking, consumer finance, housing finance and real estate, among others. In 2004, Indiabulls Financial Services became a publicly-listed company after its

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...

. Indiabulls Real Estate was demerged from the company in 2006, and Indiabulls Securities in 2008. In 2013, Indiabulls Financial Services reverse merged with its wholly-owned subsidiary, Indiabulls Housing Finance, to form the flagship company of the group. 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). By 2017, Indiabulls Housing Finance had become the second-largest housing finance company in India and was included in the

NIFTY 50 The NIFTY 50 is an Indian stock market index that represents the Capitalization-weighted index#Free-float weighting, float-weighted average of 50 of the largest Indian companies listed on the National Stock Exchange of India, National Stock E ...

benchmark index. 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 In financial accounting, a balance sheet (also known as statement of financial position or statement of financial condition) is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business ...

, allegations of fraud by group promoters, and a proposed merger with the beleaguered Lakshmi Vilas Bank, which fell through. In 2020, the group announced that it would exit Indiabulls Real Estate in a merger deal with Embassy Group entities. Sameer Gehlaut stepped down as the chairman of Indiabulls Housing Finance in 2020 and ceased to be its promoter in 2023. In July 2024, Indiabulls Housing Finance was renamed as Sammaan Capital, while Indiabulls Real Estate was renamed as Equinox India Developments.

Group companies

Equity shares of the companies are listed on the

Bombay Stock Exchange BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange based in Mumbai. It is the 6th largest stock exchange in the world by total market capitalization, exceeding $5 trillion in May 2024. Established with t ...

(BSE) and the National Stock Exchange (NSE). * Dhani Services (formerly Indiabulls Ventures or Indiabulls Securities) * Indiabulls Enterprises **Indiabulls Store One **Indiabulls LED * Yaari Digital Integrated Services (formerly Indiabulls Integrated Services or Indiabulls Wholesale Services)

Former group companies

*Indiabulls Housing Finance, rebranded as Sammaan Capital in 2024 *Indiabulls Real Estate, rebranded as Equinox India Developments in 2024 *Indiabulls AMC, rebranded as Groww AMC in 2023 *Indiabulls Power, rebranded as RattanIndia Power in 2014 *Indiabulls Infrastructure, rebranded as RattanIndia Infrastructure in 2014

References

External links

*{{Official website, https://www.indiabulls.com/ Companies based in Gurgaon Financial services companies of India Indian companies established in 2000 2000 establishments in Haryana Financial services companies established in 2000 Conglomerate companies of India