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{{Short description|Indian | {{Short description|Indian financial services conglomerate}} | ||
}} | |||
{{Use dmy dates|date=October 2020}} | {{Use dmy dates|date=October 2020}} | ||
{{Use Indian English|date=December 2014}} | {{Use Indian English|date=December 2014}} | ||
{{Infobox company | {{Infobox company | ||
| name = Indiabulls | | name = Indiabulls | ||
| logo = | | logo = Indiabulls.svg | ||
| | | image = Industrial_Park_and_NH11_National_Highway_Haryana_India_March_2015.jpg | ||
| type = | | image_caption = Indiabulls Gurgaon HQ | ||
| image_size = | |||
| type = [[Corporate group]] | |||
| foundation = January 2000 | | foundation = January 2000 | ||
| location = [[Gurgaon]], [[ | | location = Indiabulls House, [[Udyog Vihar]], [[Gurgaon]], [[Haryana]], India | ||
| key_people = {{ubl|[[Sameer Gehlaut]] | | key_people = {{ubl|[[Sameer Gehlaut]] (Chairman & Founder)}} | ||
| num_employees = | | num_employees = | ||
| divisions = | | divisions = | ||
| industry = [[ | | industry = [[Conglomerate (company)|Conglomerate]] | ||
| | | services = [[Financial services]]<br />Construction equipment leasing<br />LED lights and facilities | ||
| parent = | |||
| revenue = | | revenue = | ||
| homepage = | | homepage = {{url|https://www.indiabulls.com}} | ||
}} | }} | ||
[[File:Indiabulls logo.svg|thumb| Old logo of Indiabulls]] | |||
The '''Indiabulls''' Group is an Indian [[Conglomerate (company)|conglomerate]] headquartered in [[Gurgaon]], whose primary businesses are financial services, construction-equipment rentals, and [[LED lamp|LED lighting]].<ref name="Karthik 2023 x615">{{cite web | last=Karthik | first=Hamsini | title=Indiabulls to be renamed as Samman Capital; will let go HFC tag and operate as NBFC | website=BusinessLine | date=2023-10-02 | url=https://www.thehindubusinessline.com/money-and-banking/indiabulls-to-be-renamed-as-samman-capital-will-let-go-hfc-tag-and-operate-as-nbfc/article67372299.ece | access-date=2024-04-19}}</ref><ref name="The Economic Times 2013 m181">{{cite web | title=Indiabulls set to launch operations in Gulf countries | website=The Economic Times | date=2013-06-13 | url=https://economictimes.indiatimes.com/industry/banking/finance/banking/indiabulls-set-to-launch-operations-in-gulf-countries/articleshow/20571577.cms?from=mdr | access-date=2024-04-19}}</ref> | |||
==History== | |||
Indiabulls was started in 2000 with the establishment of Indiabulls Financial Services, a stockbroking firm co-founded by three [[IIT Delhi]] graduates–[[Sameer Gehlaut]], [[RattanIndia|Rajiv Rattan]] and [[Saurabh Mittal]].<ref>{{Cite news|title=Ransomware allegedly hits Indiabulls Group: Cyble|work=[[The Economic Times]]|url=https://economictimes.indiatimes.com/industry/banking/finance/ransomware-allegedly-hits-indiabulls-group-cyble/articleshow/76525764.cms|access-date=22 August 2020|archive-date=17 November 2020|archive-url=https://web.archive.org/web/20201117225608/https://economictimes.indiatimes.com/industry/banking/finance/ransomware-allegedly-hits-indiabulls-group-cyble/articleshow/76525764.cms|url-status=live}}</ref><ref>{{cite news |title=The Rs 29,000-crore surprise |url=https://www.businesstoday.in/magazine/in-this-issue/story/the-rs-29000crore-surprise-13029-2007-10-04 |access-date=2 August 2023 |work=Business Today |date=4 October 2007 |language=en}}</ref> Indiabulls Financial Services subsequently set up subsidiaries in stockbroking, consumer finance, housing finance and real estate, among others.<ref>{{cite news |title=Indiabulls set for revamp |url=https://timesofindia.indiatimes.com/business/india-business/indiabulls-set-for-revamp/articleshow/1560581.cms |access-date=2 August 2023 |work=The Times of India | date=5 February 2007}}</ref> | |||
In 2004, Indiabulls Financial Services became a [[publicly-listed company]] after its [[initial public offering]].<ref>{{cite news |title=Indiabulls IPO at Rs 19 |url=https://www.telegraphindia.com/business/indiabulls-ipo-at-rs-19/cid/959368 |access-date=2 August 2023 |work=The Telegraph |language=en}}</ref> Indiabulls Real Estate was [[demerger|demerged]] from the company in 2006,<ref>{{cite news |title=Indiabulls to demerge its real estate business |url=https://economictimes.indiatimes.com/indiabulls-to-demerge-its-real-estate-business/articleshow/1511773.cms |access-date=2 August 2023 |work=The Economic Times |date=2 May 2006}}</ref> and Indiabulls Securities in 2008.<ref>{{cite news |title=Indiabulls Financial slips on hiving off securities biz |url=https://economictimes.indiatimes.com/markets/stocks/news/indiabulls-financial-slips-on-hiving-off-securities-biz/articleshow/2666712.cms |access-date=2 August 2023 |work=The Economic Times |date=1 January 2008}}</ref> | |||
In 2013, Indiabulls Financial Services reverse merged with its wholly owned subsidiary, Indiabulls Housing Finance, to form the flagship company of the group.<ref>{{cite news |title=Indiabulls Financial Services completes reverse merger |url=https://www.business-standard.com/article/finance/indiabulls-financial-services-completes-reverse-merger-113030900010_1.html |access-date=2 August 2023 |work=Business Standard}}</ref> | |||
Indiabulls | |||
== | In 2014, the group was split between the three [[Corporate promoter|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).<ref>{{cite news |title=Indiabulls' three promoters split Rs 8.8k cr group |url=https://timesofindia.indiatimes.com/business/india-business/indiabulls-three-promoters-split-rs-8-8k-cr-group/articleshow/38096408.cms |access-date=2 August 2023 |work=The Times of India |date=10 July 2014}}</ref> | ||
By 2017, Indiabulls Housing Finance had become the second-largest housing finance company in India<ref>{{cite news |title=Indiabulls HF appoints Mundra as a director |url=https://www.thehindu.com/business/Industry/indiabulls-hf-appoints-mundra-as-a-director/article24732078.ece |access-date=8 September 2023 |work=The Hindu |date=19 August 2018 |language=en-IN}}</ref> and was included in the [[NIFTY 50]] benchmark index.<ref>{{cite news |title=IOC, IBHFL to replace Idea, BHEL in NSE Nifty50 from March 31 |url=https://www.business-standard.com/article/markets/ioc-ibhfl-to-replace-idea-bhel-in-nse-nifty50-from-march-31-117021600934_1.html |access-date=8 September 2023 |work=Business Standard}}</ref> 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.<ref>{{cite news |title=Indiabulls Housing: Sameer Gehlaut Sells Half His Stake, Plans on Exiting the Board by Fiscal End |url=https://thewire.in/business/indiabulls-housing-sameer-gehlaut-sells-half-his-stake-plans-on-exiting-the-board-by-fiscal-end |access-date=8 September 2023 |work=The Wire}}</ref> | |||
In 2020, the group announced that it would exit Indiabulls Real Estate in a merger deal with [[Embassy Group]] entities.<ref>{{cite news |last1=Priolker |first1=Ashwini |title=Indiabulls Real Estate Approves Share-Swap Ratio For Merger With Embassy Group |url=https://www.bqprime.com/business/indiabulls-real-estate-approves-share-swap-ratio-for-merger-with-embassy-group |access-date=9 September 2023 |work=BQ Prime |date=18 August 2020 |language=en}}</ref> Sameer Gehlaut stepped down as the chairman of Indiabulls Housing Finance in 2020<ref>{{cite news |title=Gehlaut steps down as chief of Indiabulls Housing Finance |url=https://timesofindia.indiatimes.com/business/india-business/gehlaut-steps-down-as-chief-of-indiabulls-housing-fin/articleshow/77513160.cms |access-date=10 September 2023 |work=The Times of India |date=13 August 2020}}</ref> and ceased to be its promoter in 2023.<ref>{{cite news |title=Exchanges approve reclassification of Indiabulls Housing promoter Sameer Gehlaut to public |url=https://www.cnbctv18.com/business/companies/indiabulls-housing-finance-sameer-gehlaut-promoter-reclassification-to-public-shares-16011491.htm |access-date=10 September 2023 |work=CNBC TV18 |date=23 February 2023 |language=en}}</ref> In July 2024, Indiabulls Housing Finance was renamed as Sammaan Capital, while Indiabulls Real Estate was renamed as Equinox India Developments.<ref>{{cite news |last1=Jayaraj |first1=Prajwal |title=Indiabulls Real Estate To Be Renamed As Equinox India Developments |url=https://www.ndtvprofit.com/business/indiabulls-real-estate-to-be-renamed-as-equinox-india-developments |access-date=22 October 2024 |work=NDTV Profit |date=3 July 2024 |language=en}}</ref> | |||
== | == Group companies == | ||
Equity shares of the companies are listed on the [[Bombay Stock Exchange]] (BSE) and the [[National Stock Exchange of India|National Stock Exchange]] (NSE).<ref>{{Cite web|url=https://www.business-standard.com/article/press-releases/indiabulls-forays-in-car-loan-business-110021000126_1.html|title=Indiabulls forays in Car Loan Business|website=Business Standard News|access-date=12 February 2019|archive-date=13 February 2019|archive-url=https://web.archive.org/web/20190213125130/https://www.business-standard.com/article/press-releases/indiabulls-forays-in-car-loan-business-110021000126_1.html|url-status=live}}</ref> | |||
*[[Dhani (company)|Dhani Services]] (formerly Indiabulls Ventures or Indiabulls Securities)<ref>{{Cite web|url=https://www.business-standard.com/article/news-cm/indiabulls-ventures-subsidiary-launches-mobile-application-dhani-app-117102500147_1.html|title=Indiabulls Ventures' subsidiary launches mobile application 'Dhani App'|website=Business Standard News|access-date=11 February 2019|archive-date=12 February 2019|archive-url=https://web.archive.org/web/20190212011511/https://www.business-standard.com/article/news-cm/indiabulls-ventures-subsidiary-launches-mobile-application-dhani-app-117102500147_1.html|url-status=live}}</ref> | |||
* Indiabulls Enterprises | |||
**Indiabulls Store One<ref>{{cite news |title=SORIL Infra Resources History |url=https://economictimes.indiatimes.com/soril-infra-resources-ltd/infocompanyhistory/companyid-17663.cms |access-date=19 November 2021 |work=The Economic Times |archive-date=19 November 2021 |archive-url=https://web.archive.org/web/20211119211811/https://economictimes.indiatimes.com/soril-infra-resources-ltd/infocompanyhistory/companyid-17663.cms |url-status=live }}</ref> | |||
**Indiabulls LED<ref>{{cite news |last1=Sapam |first1=Bidya |title=Indiabulls Group enters LED lighting business |url=https://www.livemint.com/Industry/4d7BvxtiLC85MYXOt1vuML/Indiabulls-Group-enters-LED-lighting-business.html |access-date=19 November 2021 |work=mint |date=25 May 2017 |language=en |archive-date=19 November 2021 |archive-url=https://web.archive.org/web/20211119211808/https://www.livemint.com/Industry/4d7BvxtiLC85MYXOt1vuML/Indiabulls-Group-enters-LED-lighting-business.html |url-status=live }}</ref> | |||
* Yaari Digital Integrated Services (formerly Indiabulls Integrated Services or Indiabulls Wholesale Services)<ref>{{cite news |title=Sebi exempts Sameer Gehlaut IIS Trust from open offer obligation |url=https://www.financialexpress.com/market/sebi-exempts-sameer-gehlaut-iis-trust-from-open-offer-obligation/2216291/ |access-date=22 November 2021 |work=The Financial Express |date=19 March 2021 |archive-date=22 November 2021 |archive-url=https://web.archive.org/web/20211122085400/https://www.financialexpress.com/market/sebi-exempts-sameer-gehlaut-iis-trust-from-open-offer-obligation/2216291/ |url-status=live }}</ref> | |||
==Former group companies== | |||
*Indiabulls Housing Finance, rebranded as Sammaan Capital in 2024<ref>{{Cite news |title=Indiabulls Housing Finance rebrands themselves as Sammaan Capital |url=https://www.cnbctv18.com/business/finance/indiabulls-housing-finance-renamed-rebrands-sammaan-capital-new-name-nbfc-19437642.htm |work=CNBC TV18}}</ref> | |||
*Indiabulls Real Estate, rebranded as Equinox India Developments in 2024 | |||
*Indiabulls AMC, rebranded as Groww AMC in 2023<ref>{{cite news |title=Indiabulls Mutual Fund to become Groww MF soon: Here's all you need to know - CNBC TV18 |url=https://www.cnbctv18.com/personal-finance/indiabulls-mutual-fund-to-become-groww-mf-soon-key-things-scheme-name-change-16223631.htm |access-date=22 October 2024 |work=CNBCTV18 |date=21 March 2023 |language=en}}</ref> | |||
*Indiabulls Power, rebranded as [[RattanIndia]] Power in 2014 | |||
*Indiabulls Infrastructure, rebranded as [[RattanIndia]] Infrastructure in 2014 | |||
==References== | ==References== | ||
| Line 45: | Line 56: | ||
==External links== | ==External links== | ||
*{{Official website|https://www.indiabulls.com/}} | *{{Official website|https://www.indiabulls.com/}} | ||
[[Category:Companies based in Gurgaon]] | [[Category:Companies based in Gurgaon]] | ||
| Line 53: | Line 62: | ||
[[Category:2000 establishments in Haryana]] | [[Category:2000 establishments in Haryana]] | ||
[[Category:Financial services companies established in 2000]] | [[Category:Financial services companies established in 2000]] | ||
[[Category:Conglomerate companies of India]] | |||
Latest revision as of 07:51, 25 September 2025
| File:Indiabulls.svg | |
 Indiabulls Gurgaon HQ | |
| 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 |
The Indiabulls Group is an Indian conglomerate headquartered in Gurgaon, whose primary businesses are financial services, construction-equipment rentals, and LED lighting.[1][2]
History[edit | edit source]
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 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[edit | edit source]
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[edit | edit source]
- 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[edit | edit source]
- ↑ 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.
- ↑ "Indiabulls set to launch operations in Gulf countries". The Economic Times. 13 June 2013. Retrieved 19 April 2024.
- ↑ "Ransomware allegedly hits Indiabulls Group: Cyble". The Economic Times. Archived from the original on 17 November 2020. Retrieved 22 August 2020.
- ↑ "The Rs 29,000-crore surprise". Business Today. 4 October 2007. Retrieved 2 August 2023.
- ↑ "Indiabulls set for revamp". The Times of India. 5 February 2007. Retrieved 2 August 2023.
- ↑ "Indiabulls IPO at Rs 19". The Telegraph. Retrieved 2 August 2023.
- ↑ "Indiabulls to demerge its real estate business". The Economic Times. 2 May 2006. Retrieved 2 August 2023.
- ↑ "Indiabulls Financial slips on hiving off securities biz". The Economic Times. 1 January 2008. Retrieved 2 August 2023.
- ↑ "Indiabulls Financial Services completes reverse merger". Business Standard. Retrieved 2 August 2023.
- ↑ "Indiabulls' three promoters split Rs 8.8k cr group". The Times of India. 10 July 2014. Retrieved 2 August 2023.
- ↑ "Indiabulls HF appoints Mundra as a director". The Hindu. 19 August 2018. Retrieved 8 September 2023.
- ↑ "IOC, IBHFL to replace Idea, BHEL in NSE Nifty50 from March 31". Business Standard. Retrieved 8 September 2023.
- ↑ "Indiabulls Housing: Sameer Gehlaut Sells Half His Stake, Plans on Exiting the Board by Fiscal End". The Wire. Retrieved 8 September 2023.
- ↑ Priolker, Ashwini (18 August 2020). "Indiabulls Real Estate Approves Share-Swap Ratio For Merger With Embassy Group". BQ Prime. Retrieved 9 September 2023.
- ↑ "Gehlaut steps down as chief of Indiabulls Housing Finance". The Times of India. 13 August 2020. Retrieved 10 September 2023.
- ↑ "Exchanges approve reclassification of Indiabulls Housing promoter Sameer Gehlaut to public". CNBC TV18. 23 February 2023. Retrieved 10 September 2023.
- ↑ Jayaraj, Prajwal (3 July 2024). "Indiabulls Real Estate To Be Renamed As Equinox India Developments". NDTV Profit. Retrieved 22 October 2024.
- ↑ "Indiabulls forays in Car Loan Business". Business Standard News. Archived from the original on 13 February 2019. Retrieved 12 February 2019.
- ↑ "Indiabulls Ventures' subsidiary launches mobile application 'Dhani App'". Business Standard News. Archived from the original on 12 February 2019. Retrieved 11 February 2019.
- ↑ "SORIL Infra Resources History". The Economic Times. Archived from the original on 19 November 2021. Retrieved 19 November 2021.
- ↑ Sapam, Bidya (25 May 2017). "Indiabulls Group enters LED lighting business". mint. Archived from the original on 19 November 2021. Retrieved 19 November 2021.
- ↑ "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.
- ↑ "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. Retrieved 22 October 2024.