Our History

A small group of passionate individuals formed Probity Research and Services Pvt. Ltd, an Information Services Company in October 1995 with a vision to produce high quality, unbiased, independent research on the Indian economy, business, industries and corporates.

Originally incorporated as Probity Research and Services Pvt. Ltd., the name of the company was later changed to India Infoline Ltd.

The quality of the research soon resulted in a client list that read like a who's who of Indian business and finance, from Hindustan Lever to Tatas, from Crisil to McKinsey, from SBI to Citibank.

We launched our research products - Probity 200 Company Reports, followed by Economy Probe, Sector Reports covering Pharmaceuticals, Information Technology, Oil & Gas and FMCG among others.

The genesis of India Infoline stemmed from the thought that if all this research were to be available free on the internet, the number of users would leapfrog straight from hundreds to millions. We took the plunge and www.indiainfoline.com was born. CDC was the first private equity firm to invest in India Infoline funding us to the tune of US$1mn.

We received growth capital from Intel and others in this year of 'dot-com euphoria' becoming one of the pioneers of online trading, with the launch of 5paisa.com, a paradigm shift, with full service brokerage at 0.05% when the industry was at 1-1.5%.

The 'internet bubble' which grew at an alarming pace, reached a saturation point, finally bursting and funding just vanished. We persevered, nevertheless, with laying the foundations of our distribution business, becoming India's first Corporate Agent for Insurance, tying up with ICICI Prudential Life Insurance.

There was global gloom. The internet bubble burst, the economy witnessed a slowdown and the stock market was paralysed by the Ketan Parekh scam. We conserved resources, focused on survival and avoided any distractions, which were away from our core competencies i.e. financial services.

Convinced that technology was a game changer, we launched our 'Trader Terminal', a pioneering technology built over 3 years, our retail investor's very own Bloomberg. The product became an instant hit and remains sought after till date.

While offering commodities broking to retail investors, we discovered the connection between transactional and advisory expertise. Over the years, our business model has been de-risked and is no longer dependent on cyclical capital markets

Listing on the NSE and BSE gave impetus and momentum to expansion, scaling up and funding and we went full steam ahead with our IPO at Rs 15.2 (adjusted for split) and shareholders received Rs 15.7 by way of dividend.

This was another major move for our group - from fee-based to fund-based business. From a modest beginning with all processes and controls, the NBFC was later to become the most dominant business line.

A high profile institutional team from the then leading foreign brokerage house joined us in what was a first deal of its kind in the Indian broking industry, making IIFL the port of first call for FIIs and DIIs.

IIFL Wealth's business model, in contrast to the traditional industry's practice of driving revenues through distribution and commission, focuses on advisory fees as core income, ensuring alignment of interests with those of our clients.

We received growth capital from Intel and others in this year of 'dot-com euphoria' becoming one of the pioneers of online trading, with the launch of 5paisa.com, a paradigm shift, with full service brokerage at 0.05% when the industry was at 1-1.5%.

IIFL began with the gold loan business in 2010 diversifying the product portfolio. Previously in 2009, we registered with NHB for housing finance business.

We incorporated the IIFL Asset Management Company, and in doing so, ensured our coverage of the entire gamut of financial services.

A debt and equity linked investment instrument, this fund's focus is on affordable residential segments in the top seven cities in India. The maiden fund raised Rs 5bn, as testimony to our customer's trust.

We launched AIF raising Rs 6.28 bn, the largest AIF fund in India, till date.

We created a niche by providing bespoke solutions in areas of succession planning, asset protection and administration services integrated with its family office proposition.

We launched IIFL Markets, stock trading mobile application in February 2015. It is the highest rated (4.4) and most downloaded stock trading app on Android and IOS amongst peers.

Fairfax Group belonging to the reputed global investor Mr. Prem Watsa of Canada invested Rs. 13,414 million (US$ 202 million) by a secondary purchase of IIFL Holdings shares through an open offer.

CDC Group plc, the United Kingdom’s development finance institution, invested Rs. 10,050 million (US$ 150 million) in the NBFC subsidiary, India Infoline Finance Ltd.

General Atlantic, leading global growth equity firm, invested Rs. 9,038 million (US$ 134 million) in IIFL Wealth Management Ltd through fresh issue of equity shares and additionally Rs. 1,591 million (US$ 23 million) for the acquisition of shares from employees of IIFL Wealth.

IIFL acquired Samasta Microfinance Ltd, a Bengaluru-based micro finance institution to enter the microfinance segment and expand its offerings.

5paisa Capital Limited was listed on NSE and BSE on 16th November, 2017 - becoming India's first listed Fintech company. 5paisa provides financial services digitally through a low cost DIY model

IIFL wealth raised Rs 746cr by issue of equity to eminent financial investors. IIFL Wealth issued shares towards Ward Ferry Management Ltd, Rimco (Mauritius) Limited, Amansa Holdings, General Atlantic Singapore Fund, Steadview and HDFC Standard Life Insurance.

IIFL Securities Limited and IIFL Wealth Management Limited were demerged and independently listed. IIFL Holdings Limited was renamed as IIFL Finance Limited.