Indiabulls
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| Indiabulls | |
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| Type | Public (NSE: [1]) |
| Founded | 2000 As Indiabulls Financial Services Ltd. |
| Headquarters |  Mumbai, India |
| Key people |  Sameer Gehlaut, Chairman & CEO Rajiv Rattan, President & CFO, Saurabh Mittal Director |
| Industry | Financial Services |
| Products | Securities, Consumer Finance, Mortgages, Real Estate |
| Employees | ~ 20000 (2007) |
| Website | www.indiabulls.com |
Indiabulls (NSE: INDIABULLS) is India's leading financial services and real estate company with a Pan India presence.
Chairman Sameer Gehlaut (previously with Halliburton, an oil company) started Indiabulls in May 2000 as an online stock brokerage with two fellow engineering graduates from the Indian Institute of Technology, Delhi (Rajiv Rattan, COO (previously with Schlumberger (also an oil company) and Saurabh Mittal, Director).
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[edit] Stock
Indiabulls Financial Services Ltd is listed on the National Stock Exchange, Bombay Stock Exchange and Luxembourg Stock Exchange and is part of the Indiabulls Group (other listed group companies are Indiabulls Real Estate Limited and Indiabulls Securities Limited). The market capitalization of Indiabulls is around USD 3,330 million (as of 30 September 2007) and the consolidated market capitalization of Indiabulls Group is around $7,000 million. Consolidated net worth of the group is around USD 950 million (as of 30 September 2007). Indiabulls Group has attracted more than USD 1000 million of equity capital in Foreign Direct Investment (FDI) since March 2000. Some of the large shareholders of Indiabulls are the largest financial institutions of the world such as Fidelity Funds, Goldman Sachs, Merrill Lynch, Morgan Stanley and Farallon Capital.
[edit] Group Companies
- Indiabulls Securities Ltd.
- Indiabulls Real Estate Ltd.
[edit] History
Sameer Gehlaut, Rajiv Rattan and Saurabh Mittal started Indiabulls Group by acquiring a minor brokerage company, Orbis Securities, in 1999. The group started it business as a stock-brokerage firm and pioneered online brokerage business in India before diversifying into other financial services areas such as consumer credit (2004) and mortgages (2005). The group partnered with Farallon Capital to purchase land-mark bombay land assets and is currently building one of the largest integrated commercial real estate projects in India (valued at more than $2 billion). The group recently entered the Power generation business and aims to have more than 5000 MW of power generation under construction before 2008 end.
The three founders today control the Indiabulls Group and own more than $2,000 million worth of stock. Sameer Gehlaut was recently listed in the Forbes Billionaires 2008 list, and Saurabh Mittal and Rajiv Rattan are each worth more than $500 million.
[edit] Acquisition and Retail Sector
In the month of December - Indiabulls Wholesale Services, the retail arm of Indiabulls Real Estate, has acquired Piramyd Retail, a company owned by the Ashok Piramal Group which runs 35 neighbourhood retail stores and seven lifestyle stores.
Indiabulls Wholesale has acquired 63.92 per cent stake in Piramyd Retail at an enterprise value of around Rs 208 crore (Rs 2.08 billion), said sources close to the deal.[citation needed]
They also made an open offer in the weekend to acquire an additional 20 per cent of the fully diluted paid-up capital of Piramyd Retail, at Rs 74.73 per share.[citation needed] Piramyd runs a lifestyle retail (Piramyd Megastore) and convenience store chain (Trumart) with 42 stores spread over 10 lakh square foot of retail space in states like Maharashtra, Gujarat, Rajasthan, Delhi, Punjab (India) and Madhya Pradesh.
Indiabulls Wholesale, which is setting up 30 hypermarkets in as many tier-II cities at a cost of Rs 1,500 crore (Rs 15 billion), plans to expand Piramyd's existing network of 42 stores to over 150 stores by the end of 2008.[citation needed]
With this acquisition, Indiabulls will have a presence across different formats hypermarkets, lifestyle and convenience store formats. The acquisition provides Indiabulls 1,300 trained people and 10 lakh square foot of prime retail space.[citation needed]
Pyramid Retail had reported a net loss of Rs 47.81 crore (Rs 478.1 million) on gross sales of Rs 162.01 crore (Rs 1.62 billion), taking up its accumulated losses to Rs 55.28 crore (Rs 552.8 million). Retailers have been bogged down by high real estate prices and supply chain issues.
Indiabulls Real Estate is developing commercial properties in Lower Parel in Mumbai and recently announced the launch of Indiabulls Centre One, its first building offering 1,400,000 square feet (130,000 m²) for lease.
It is also developing over 50,000 residential apartments across India and has over 4,000 acres (16 km²) of land bank which it intends to use for commercial and residential development.
[edit] Growth Story
| Year | |
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| 2000-01 | Indiabulls Financial Services Ltd. established India’s one of the first trading platforms with the development of an in house team. |
| 2001-03 | Indiabulls expands its service offerings to include Equity, F&O, Wholesale Debt, Mutual fund, IPO distribution and Equity Research. |
| 2003-04 | Indiabulls ventured into Insurance distribution and commodities trading. Company focused on brand building and franchise model. |
| 2004-05 | Indiabulls came out with its initial public offer (IPO) in September 2004.
Indiabulls started its consumer finance business. |
| 2005-06 | Indiabulls has acquired over 115 acres (0.47 km²) of land in Sonepat for residential home site development. Merrill Lynch and Goldman sac, one of the renowned investment banks in the world have increased their shareholding in Indiabulls. |
| 2006-07 | Indiabulls entered in a 50/50 joint venture with DLF, Kenneth Builders & Developers (KBD). KBD has acquired 35.8 acres of land from Delhi Development Authority through a competitive bidding process for Rs 450 crore to develop residential apartments. Indiabulls Financial Services Ltd. is included in the prestigious Morgan Stanley Capital International Index (MSCI). |
