Other group companies are into a variety of different financial businesses. We will be discussing them in detail here.
As of March 30, 2020, a merger of two of the group entities took place. The first entity was India Infoline Finance Limited and the other one was IIFL Finance Limited.
They were merged to form just a single group. Now, the group is operating under three major entities –
IIFL Finance Limited
IIFL Wealth Management
IIFL Securities Limited
IIFL Finance Limited
This entity has two operating companies under it. The name of the first company is IIFL Home Finance Limited and the name of the other company under this group is Samasta Microfinance Limited.
They are into the business of providing loans and mortgages.
IIFL Home Finance Limited has been performing quite well in India with more than 2000 employees working in more than 125 branches operating all over the country. They have a good number of 8000 plus projects to show in their portfolio.
Samasta Microfinance Limited is a financial company that has been serving in around 16 states in India to help women find their economic independence. They provide innovative and reasonable products to women in rural as well as semi-urban areas.
IIFL Wealth Management – This entity has IIFL Asset management and several international subsidiaries under it.
IIFL Asset Management assists its clients in meeting their investment requirements by investing in well-designed products. They have a portfolio of uniquely structured mutual funds.
IIFL mutual funds consist of those stocks which are considered to be one of the finest quality in stock markets.
They have designed different types of funds like IIFL Liquid Fund, IIFL Focused Equity Fund, etc. to meet the specific needs of different kinds of clients. The clients differ on the basis of their risk profile, income group, the time horizon of the investment, expected rate of return, etc.
IIFL Securities Limited – There are three major subsidiaries of this group company. These are IIFL Capital Inc., IIFL Insurance Brokers Limited, and IIFL Facilities Services.
IIFL Capital Inc. is into providing research products as well as sales and trading services to their clients.
IIFL Insurance Brokers Limited is catering to more than 20 lakh customers. These customers avail their services of insurance and consumer credit along with investments in mutual funds.
They are spread throughout the country with the help of their 4000 business locations.
IIFL group companies have been performing exceedingly well over the last many years and the same is clearly visible in the number of awards that have been received by them.
Some of the awards received by IIFL group companies in the last few years are described as follows –
One of the home loan solutions of IIFL Home Finance was awarded as the “Technology Initiative of the Year” in the year 2019.
IIFL Home Finance was also awarded as the best housing finance company of the year in the year 2019.
India Infoline was given the Mobby’s award for the best financial website in the year 2018.
IIFL Securities was awarded as the best financial advisory services for NRIs in the year 2018.
IIFL Wealth Management was awarded for the best private banking services in the year 2020.
IIFL Wealth Management also won the best family office services award in this year.
IIFL Wealth bagged the Financial Services Company of the year award in the year 2019.
In the year 1995, Nirmal Jain formed a research company with the aim of providing good quality research on the Indian economy, its different sectors, businesses, etc. The name of the company was Probity Research and Services Pvt. Ltd.
They started launching their research products and the company started to grow in terms of clients and business. The year 1999 marked the launch of India Infoline which later on became IIFL. So, now we know where the full form of IIFL stems from.
Later, their online trading platform was launched. The company was listed on NSE and BSE that marked another huge step for its business. Over the years, it has been adding different kinds of services like gold loans business, IIFL wealth management services, etc.
IIFL full form is India Infoline Finance Limited. The group has been in existence since the year 1995. They have diversified their services into many fields in the financial sector of India.
The three major group companies are into different types of financial services.
Some are into broking services, research, and advisory services, and some are into investments in mutual funds to cater to the needs of a diverse range of customers.
Their products like IIFL Equity, IIFL Commodity, etc are well thought of and designed to meet the requirements of the clients with different age groups, income categories, risk-taking capacities, financial obligations, expectations of the rate of return, etc.
All the IIFL group companies have bagged several awards of the financial services industry. This gives an idea about their performance and reviews of their clients.
They have lakhs of satisfied clients in the whole nation.
Before availing any of their or any other financial companies’ services, it is a good idea to just stop and consider their pros and cons first.
Do make sure to do your due diligence before putting your hard-earned money into anything. Stay educated, stay invested!