 | |
 Indiabulls Gurgaon HQ | |
| Company type | Corporate group |
|---|---|
| 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 |
TheIndiabulls Group is an Indianconglomerate headquartered inGurgaon, whose primary businesses are financial services, construction-equipment rentals, andLED lighting.[1][2]
Indiabulls was started in 2000 with the establishment of Indiabulls Financial Services, a stockbroking firm co-founded by threeIIT Delhi graduates–Sameer Gehlaut,Rajiv Rattan andSaurabh 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 apublicly-listed company after itsinitial public offering.[6] Indiabulls Real Estate wasdemerged 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 threepromoters 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 theNIFTY 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 ofIL&FS, the company's shrinkingbalance sheet, allegations of fraud by group promoters, and a proposed merger with the beleagueredLakshmi Vilas Bank, which fell through.[13]
In 2020, the group announced that it would exit Indiabulls Real Estate in a merger deal withEmbassy 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]
Equity shares of the companies are listed on theBombay Stock Exchange (BSE) and theNational Stock Exchange (NSE).[18]