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Home > Equity Market > India Infoline Ltd.- Company History >

India Infoline Ltd.- Company History

Industry: Finance & Investments
BSE Code :532636
Business Group:Not Applicable
LTP (Rs.) :164.3  (1.0765918179021838%) [NSE]
ISIN No :INE530B01024
Face Value/M Lot :2.00/1
P/E Ratio : 51.36
Market Cap : 5021.59 Cr
The company history sections lists out major chronological events that happened to the company.
We were originally incorporated on October 18, 1995 as Probity Research and Services Private Limited at Mumbai under the Companies Act, 1956 with Registration No. 11 93797. We commenced our operations as an independent provider of information, analysis and research covering Indian businesses, financial markets and economy, to institutional customers. We became a public limited company on April 28, 2000 and the name of the Company was changed to Probity Research and Services Limited. The name of the Company was changed to India Limited on May 23, 2000 and later to India Infoline Limited on March 23, 2001.

In 1999, we identified the potential of the Internet to cater to a mass retail segment and transformed our business model from providing information services to institutional customers to retail customers. Hence we launched our Internet portal, in May 1999 and started providing news and market information, independent research, interviews with business leaders and other specialized features.

In May 2000, the name of our Company was changed to India Limited to reflect the transformation of our business. Over a period of time, we have emerged as one of the leading business and financial information services provider in India.

In the year 2000, we leveraged our position as a provider of financial information and analysis by diversifying into transactional services, primarily for online trading in shares and securities and online as well as offline distribution of personal financial products, like mutual funds and RBI Bonds. These activities were carried on by our wholly owned subsidiaries.

Our broking services was launched under the brand name of through our subsidiary, India Infoline Securities Private Limited and, the e-broking portal, was launched for online trading in July 2000. It combined competitive brokerage rates and research, supported by Internet technology Besides investment advice from an experienced team of research analysts, we also offer real time stock quotes, market news and price charts with multiple tools for technical analysis.

Acquisition of Agri Marketing Services Limited ("Agri")

In March 2000, we acquired 100% of the equity shares of Agri Marketing Services Limited, from their owners in exchange for the issuance of 508,482 of our equity shares. Agri was a direct selling agent of personal financial products including mutual funds, fixed deposits, corporate bonds and post-office instruments. At the time of our acquisition, Agri operated 32 branches in South and West India serving more than 30,000 customers with a staff of, approximately 180 employees. After the acquisition, we changed the company name to India Distribution Company Limited.


Our main offices are located in approximately 4,000 square feet of office space located in Mumbai, India. Our India Infoline Branches collectively occupy an additional 10,000 square feet of office space located throughout India, As on March 31, 2005, we have 73 branches across 36 locations in India.

The table below shows the changes in the Registered Office of the Company since Incorporation:

Previous Address New Address Date of Change

208-C, Agarwal Market, 1, Snehdeep, Gokhale Road, August 6, 1999 Vile Pane (East), Vile Parle (East), Mumbai - 400 057. Mumbai - 400 057,

1, Snehdeep, Gokhale Road, Building No. 24, 1st floor, Jan.,15, 2001 Vile Parle (East), Nirlon Complex, Mumbai - 400 057. Off Western Express Highway, Goregaon (E), Mumbai - 400 0063.

Reason for Change

Requirement of more floor space. Requirement of more floor space.

The instances when the name of the Company was changed are cited below:

Previous Name New Name

Probity Research and Probity Research and Services Private-Limited Services Limited

Probity Research and India Limited Services Limited India Limited India Infoline Limited

Date of Change Reason for Change

April 28, 2000 Conversion from Private Limited to Public Limited Company

May 23, 2000 To focus on the retail financial intermediary business through an online set-up.

March 23, 2001 To focus on the retail financial intermediary business through offline as well as online set-up. Milestones 1995 -Incorporated as an equity research and consulting firm with a client base that included leading FIIs, banks, consulting firms and corporates. 1999 -Restructured the business model to embrace the internet; launched mobilised capital from reputed private equity investors. 2000 -Commenced the distribution of personal financial products; launched online equity trading; entered life insurance distribution as a corporate agent. Acknowledged by Forbes as `Best of the Web' and `...must read for investors'. 2004 -Acquired commodities broking license; launched Portfolio Management Service.

2005 - Listed on the Indian stock markets

- India Infoline fixes a price band between Rs 70 and Rs 80 for its forthcoming public issue. The company is coming out with public issue of 1.18 crore shares with a face value of Rs 10 through the book building route. The issue is slated to open on April 21 and close on April 27. Enam Financial Consultants Private Ltd would be the sole book running lead manager to the issue while Intime Spectrum Registry Ltd is the registrar to the issue.

-India Infoline public issue gets 6.6 times oversubscription

-IIL appoints R Mohan as VP

-India Infoline Ltd has informed that the Company has entered into a advertising agreement with Times Group where in the Company and other group companies would spend about Rupees Thirty Crores over the next 5 years in print as well as non print media of The Times Group.

-India Infoline to buy 75-pc stake in Moneytree


-India Infoline launches exclusive SMS Value Added Service

-India Infoline enters into strategic agreement with Saraswat Bank

-India Infoline to launch stock trading on cell phones

-Indiainfoline to roll out MCX, NCDEX, DGCX software -Acquired membership of DGCX; launched investment banking services

2007 -Launched a proprietary trading platform; inducted an institutional equities team; formed a Singapore subsidiary; raised over USD 300 mn in the group; launched consumer finance business under the `Moneyline' brand.

2008 -Launched wealth management services under the `IIFL Wealth' brand; set up India Infoline Private Equity fund; received the Insurance broking license from IRDA; received the venture capital license; received inprinciple approval to sponsor a mutual fund; received `Best broker- India' award from FinanceAsia; `Most Improved Brokerage- India' award from Asiamoney.

- India Infoline Ltd has informed that the Board of Directors of the Company have vide circular resolution passed on March 10, 2008 approved the appointment of Mr. A K Purwar, ex-Chairman of the State Bank of India, as an independent director on the Board of the Company.

- India Infoline Ltd has informed that pursuant to the resignation of Mr. Nimish Mehta, Company Secretary and Compliance Officer of the Company. Ms. Falguni Sanghvi has been appointed as the Company Secretary with effect from October 07, 2008.

- The Company has splits its face value from Rs10/- to Rs2/-.

2009 -Received registration for a housing finance company from the National Housing Bank; received `Fastest growing Equity Broking House - Large firms' in India by Dun & Bradstreet.


-Received in-principle approval for membership of the Singapore Stock Exchange

-Received membership of the Colombo Stock Exchange


-Launched IIFL Mutual Fund.

-IIFL got SEBI nod for Mutual Fund business.

-"IIFL announces launch of its 'LifeTime Prepaid, AnyTime Money back' brokerage product"


-"PFRDA appoints India Infoline Finance Ltd (IIFL) as Points of Presence (PoP) under New Pension System (NPS)."

-Dr. S. Narayan as an Additional Director of the Company. He will be an Independent Director on the Board of the Company.

Visit the India Infoline Ltd. company profile page for more information on the company. Learn about India Infoline Ltd. company history , share holding pattern , board of directors & key executives . Get live equity market updates & browse through breaking news stories from the Indian share market.

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