Part of the IFB group, IFB Securities was incorporated as a public limited company in Nov.'91. It is involved in investment activities and financial services. The company has been jointly promoted by IFB Industries and Bijon Nag, the promoter of the IFB group of companies which includes IFB Industries, IFB Agro Industries and IFB Leasing & Finance.To expand its investment activity, the company made its maiden public issue in Dec.'94. It raised money to increase its investment exposure, to finance the deposit/advance for receiving the NSE membership and to invest in two associate companies. IFB, in association with a member of the Calcutta Stock Exchange (50:50 stake), has floated CPL Securities. This has since received corporate membership of the Calcutta bourse. The company has bought a 65% stake in Cantor Capital Corporation, US, a member broker of NASDAQ, which helps it play a pivotal role as a broker, especially for US-based FIIs. In Sep.'95, the company obtained the OTCEI dealership.