IIFL was co-founded on Oct 17, 1995 by Nirmal Jain and R. Venkatraman. Jain was previously employed with Hindustan Lever Limited. The company was founded as Probity Research and Services Private Limited which provided research on the Indian economy, businesses and corporates. The name was later changed to India Infoline Limited.
A few years into the business, the organisation found itself with clients which included research organisations, banks and corporates. They then began launching their research products to become more noticeable in the market. In the meanwhile, the dotcom revolution was beginning to take place in India. Taking advantage of this revolution would mean an increase in the number of readers to millions. The website was created in 1999.
Taking the business one step ahead this group of consultants opened a trading portal – www.5paisa.com –in 2000 thus moved into the business of being a full service broking agency. During this time they widened their distribution network.
In 2001, the Indian dotcom industry saw a downfall. During this time, sustaining became tough. The organisation then decided to tie-up with leading Life Insurance company ICICI Prudential, thus putting to use its distribution network and becoming India’s first corporate agent for insurance.
In 2009, IIFL also held their first global investor conference, Enterprising India, which was attended by the likes of Jim Walker, David Bloom and Brahma Chellany, amongst others.
Operations and Global Offices
India Infoline has about 4000 business locations in about 900 cities. Apart from India they are present in 8 other countries - Singapore, Dubai, USA, UK, Switzerland, Hong Kong, Mauritius and Sri Lanka.
- 2004: Obtained commodities licence
- 2005: Listed in BSE and National Stock Exchange of India
- 2008: Launch of IIFL Private Wealth Management
- 2010: Became the first Indian Broker to register on Colombo Stock Exchange
- 2010: Received an approval for membership of the Singapore Stock Exchange
- 2009: First edition of Enterprising India
- 2011: Launch of IIFL Mutual Fund
- 2012: Announced Real Estate Fund
- 2013: Launched the largest AIF Fund in India
IIFL Holdings Ltd is divided into 9 companies.
- India Infoline Ltd.
- India Infoline Finance Limited: is under this company.
- India infoline Insurance brokers Ltd.
- India Infoline Commodities Ltd.
- IIFL Assets management company & IIFL MF
- IIFL Private Wealth management Ltd.
- IIFL (Asia) Pte Ltd.
- IIFL Inc. (US) investment Advisors Ltd.
- IIFL (UK)
- IIFL Multi National Company.
Awards and Recognition
- Three of the analysts from the Pharma, Banking and Oil & Gas sector respectively won the India's Best Market Analyst Awards 2013 by Zee Business
- Best Wealth Management House by The Asset Tripple A – 2012
- Best Customer Service in Financial Services, 2013 – Retailer Customer Service Awards
- Best Broking House with Global Presence, 2012 – D&B
- BSE Group felicitated IIFL for being one of the top performers in the 'Equity FI' category on Mahurat Trading day-to-day
- Mr. Nirmal Jain, Chairman, IIFL received the 'Entrepreneur of the Year' award at the 10th Franchise India Awards 2012
- IIFL Buzz won the prestigious award for the internal tabloid at the 53rd annual awards night of the Association of Business Communication of India (ABCI)
- Best Private Banking Services Overall – India – Euromoney Private Banking Survey 2014
- Best Wealth Management company in India - Wealth Briefing Asia Awards 2013
- Fastest Growing Wealth Management Company - CNBC-TV18 Financial Advisor Awards 2013
- Highest asset Growth Champion - The Wealth Forum Advisor Awards 2013