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Follow UsIs Indiabulls a dotcom company? No, say the people at Indiabulls, though,
almost half of its revenues originate online.
Indiabulls was initially funded by new economy VCs such as Infinity and LN
Mittal Ventures and was founded by three young IITians-Sameer Gehlaut, Rajiv
Rattan and Saurabh Mittal-just like several other dotcoms of the time. Today,
60% of the company is controlled by FIIs. Indiabulls' e-trading platform Power
Indiabulls has been developed inhouse. Says Gagan Banga, executive director,
Indiabulls Securities, “The Power Indiabulls interface is robust enough to
enable 3,500 trades every day.” Circa 2005, the company has transformed itself
into a brick and mortar entity and harps on its branches (over 400 for financial
securities), and has diversified into other businesses like real estate.
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| Sameer Gehlaut, co-founder Founded: 1999 Investors: Infinity, Transatlantic, LN Mittal Ventures initially; came out with an IPO in September 2004; Farallon Capital has made fresh investments in Indiabulls Financial Services this year while LN Mittal Ventures upped its stake to 8.2% in Indiabulls Credit Services, subsidiary of Indiabulls Financial Services Initial Business Model: Online brokerage Current Business Model: Online and offline brokerage, real estate, secured and unsecured lending Revenues: $133 mn Net Profit: $55 mn |
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With 35% of the securities and trading market, Indiabulls is the largest
online brokerage firm and grosses Rs 15,000 crore every day. A special service
offered on online trading is an analysis and rating of 410 companies on the
portal. Last year, Indiabulls acquired 95,000 clients (both online and offline)
and wants to take the figure to 6.5 lakh by the end of this year.
Bhaswati Chakravorty