History

IIFL Securities Ltd was incorporated on March 21, 1996. The company is engaged in the financial services space. It offers capital financial services such as equity broking in NSE and BSE, commodity broking in MCX and NCDEX, depository participant services, merchant banking, portfolio management services (PMS), etc. The company was listed on September 20, 2019. The company is one of the largest institutional broking franchises in India to offer robust research capabilities. During the year, the research team covers over 250 stocks across a wide range of sectors and market caps. As of March 31, 2023, the combined market cap of the stocks covered by them was about $2.4 trillion.

Business Segments

The company has declared the following business segments under the Ind AS 108 accounting standards:

1. Capital Market and other related activities, which include offering services such as equity broking, currency broking, commodity broking, depository participant services, merchant banking business and third-party financial product distribution services. Services within this category can be further classified as:
   1. Retail broking - This involves broking of equity, commodity, and currency. It also includes services in financial planning, Depository Participant services, mutual funds and bonds distribution, PMS, AIFs, etc.
   2. Institutional broking - Broking services for large institutions, including research support.
   3. Investment banking - This includes services in facilitating IPOs, qualified institutional placements, rights issues, preferential placement, FPOs, mergers and acquisitions, equity buybacks, tender offers and delisting, other advisory services, etc.
2. Overall, capital markets brought in roughly 90.5% of the total revenue.
3. Insurance broking and wellness services
4. Facility and real estate broking services, along with other advisory services.

Subsidiaries As of March 31, 2023, the Company has 11 subsidiaries. Some of these include:

1. IIFL Management Services Limited
2. India Infoline Foundation
3. IIFL Commodities Limited
4. IIFL Wealth (UK) Limited

Key Personnel

Mr R. Venkataraman, Chairman and Managing Director Mr. R. Venkataraman has been a part of the IIFL Group's key initiatives over the past 24 years. Before that, he held senior managerial positions in ICICI Ltd, including ICICI Securities Ltd. He has also worked as an Assistant Vice President of GE Capital Services India Ltd. in the company’s private equity division. Overall, he has more than 31 years of experience in the financial services sector.

Corporate Actions

The following are the corporate actions undertaken by the company in recent years. Mergers and Acquisitions

• In FY 2019, IIFL Securities incorporated IIFL Securities Services IFSC Ltd as a wholly owned subsidiary.
• Effective from April 1, 2018, IIFL Facilities Services Limited, IIFL Insurance Brokers Limited, IIFL Management Services Limited, IIFL Commodities Limited, IIFL Wealth (UK) Limited, IIFL Capital Inc., IIFL Asset Reconstruction Limited, and India Infoline Foundation became subsidiaries of the company in FY 2019.