History of India Infoline ltd.
We were originally incorporat
We were originally incorporated on October 18, ed on October 18, 1995 as Probity Research and1995 as Probity Research and Services Private Limited at Mumbai under the
Services Private Limited at Mumbai under the Companies Act, 1956 withCompanies Act, 1956 with Registratio
P a g e
P a g e | 39| 39
provider of information, analysis and research covering Indian businesses, financial provider of information, analysis and research covering Indian businesses, financial markets and economy, to institutional customers. We became
markets and economy, to institutional customers. We became a public limiteda public limited company on April 28, 2000 and the
company on April 28, 2000 and the name of the Company was changed to name of the Company was changed to ProbityProbity Research and Services Limited. The name of the Company was changed to India Research and Services Limited. The name of the Company was changed to India Infoline.com Limite
Infoline.com Limited on May 23, d on May 23, 2000 and later to India Infoline Limited on 2000 and later to India Infoline Limited on MarchMarch 23, 2001.
23, 2001.
In 1999, we identified the potential of
In 1999, we identified the potential of the Internet to cater to the Internet to cater to a mass retail segmenta mass retail segment and transformed our business model from providing information services to
and transformed our business model from providing information services to institutiona
institutional customers to l customers to retail customers. Hence we launched our retail customers. Hence we launched our Internet portal,Internet portal, www.indiain
www.indiainfoline.com in May 1999 and foline.com in May 1999 and started providing news and marketstarted providing news and market informatio
information, independent research, n, independent research, interviews with business leaders and interviews with business leaders and otherother specialized features.
specialized features.
In May 2000, the name of
In May 2000, the name of our Company was changed to India Infoline.com Limitedour Company was changed to India Infoline.com Limited to reflect the transformation of our business. Over a period of time,
to reflect the transformation of our business. Over a period of time, we havewe have emerged as one
emerged as one of the of the leading business and financial information services providerleading business and financial information services provider in India.
in India.
In the year 2000, we leveraged our position as a provider of financial information In the year 2000, we leveraged our position as a provider of financial information and analysis by diversifying into transactional services, primarily for online trading and analysis by diversifying into transactional services, primarily for online trading in shares and securities and online as well as
in shares and securities and online as well as offline distribution of personaloffline distribution of personal financial products
financial products, like mutual funds and RBI , like mutual funds and RBI Bonds. These activities were carried onBonds. These activities were carried on by our wholly owned subsidiaries.
by our wholly owned subsidiaries.
Our broking services was launched under the
Our broking services was launched under the brand name of brand name of 5paisa.com through5paisa.com through our subsidiary, India Infoline Securities Private Limited and www.5paisa.com, the e- our subsidiary, India Infoline Securities Private Limited and www.5paisa.com, the e- broking portal, was launched for online trading in July 2000. It
broking portal, was launched for online trading in July 2000. It combinedcombined competitive brokerage rates and research, supported by Internet technology competitive brokerage rates and research, supported by Internet technology Besides investment advice from an experienced team of
Besides investment advice from an experienced team of research analysts, we alsoresearch analysts, we also offer real time stock quotes, market news and
offer real time stock quotes, market news and price charts with multiple tools forprice charts with multiple tools for technical analysis.
technical analysis. Acquisition of Agri
Acquisition of Agri Marketing Services Limited ("Agri")Marketing Services Limited ("Agri")
In March 2000, we acquired 100% of the equity shares of Agri Marketing Services In March 2000, we acquired 100% of the equity shares of Agri Marketing Services Limited, from their owners in exchange for the issuance of 508,482 of
Limited, from their owners in exchange for the issuance of 508,482 of our equityour equity shares. Agri was a direct selling agent of personal financial products including shares. Agri was a direct selling agent of personal financial products including mutual funds, fixed deposits, corporate bonds and post-office instruments. At the mutual funds, fixed deposits, corporate bonds and post-office instruments. At the time of our acquisition, Agri operated 32 branches in South and
time of our acquisition, Agri operated 32 branches in South and West India servingWest India serving more than 30,000 customers with
more than 30,000 customers with a staff of, a staff of, approximapproximately 180 employees. Afterately 180 employees. After the acquisition, we changed the
the acquisition, we changed the company name to India Infoline.com Distributioncompany name to India Infoline.com Distribution Company Limited.
P a g e
P a g e | 41| 41