IIFL Securities, India's leading exchange-listed financial advisory, products distribution and broking firm, is a part offinancial services conglomerate, IIFL Group, which was started by the legendary entrepreneur Nirmal Jain in 1995, the genesis of the company dates back to the era where the belief was to dream big and believe in accomplishing it.
Under the sharp leadership of R Venkataraman, Managing Director, IIFL Securities and Co-Founder, IIFL Group and Arindam Chanda, CEO, IIFL Securities Ltd today has continued to be a key player in both, the retail and institutional segments of the capital market, with over 2,500 points of presence covering the company's branches and business partners over 500 cities in India. The Founding idea of Nirmal Jain, IIFL, has continued to present, the acceleration in new client acquisition, with the retail broking business adding 88,398 new customers in FY 18-19.In 2019, IIFL Securities has launched AAA – advisor anytime anywhere – a tab-based platform for independent financial advisors with an aim to create 10 lakh entrepreneurs in India in line with the ambitious 'Skill India' mission of the government.
In September 2019, IIFL Securities was listed on NSE and BSE. It is among the few listed broking firms with highest level of corporate governance, customer and technology focus.
MORE ABOUT THE FOUNDER NIRMAL JAIN
Nirmal Jain, a first-generation entrepreneur is credited with building one of the largest financial services groups in India in just about two decades. He is a PGDM (Post Graduate Diploma in Management) from IIM, Ahmedabad, a rank holder Chartered Accountant, and a Cost Accountant. Jain began his career in 1989 with Hindustan Lever Limited (HUL), the Indian arm of Unilever. In 1995, he founded his own equity research company, which is today known as India Infoline or IIFL Group. The company's pioneering work in equity research had set new standards. In 1999, he launched a website where he made available his research free on the Internet.
In 2000, the company forayed into the transaction space, with the launch of the online trading portal. Under his leadership, the company started diversifying the business model by adding multiple business streams while remaining focussed on the core domain of financial services. Nirmal has steered IIFL to one of India's leading financial services groups. He has led the company through financial turmoil, regulatory upheaval and stiff competition from deep-pocketed institutional players. IIFL today is one of the largest financial services firms in India and is backed by marquee global investors like Fairfax Group, private equity major General Atlantic and UK government's private equity fund – CDC Group. IIFL Group has a customer base of over four million across 8 countries.
MORE ABOUT THE MANAGING DIRECTOR R VENKATARAMAN
Mr. Venkataraman Rajamani, aged 50 years, is the Managing Director of IIFL Securities Ltd. He holds a B. Tech degree from Indian Institute of Technology, Kharagpur and a post graduate diploma in management from Indian Institute of Management, Bangalore.
Before becoming the co-promoter and managing director of the IIFL Holdings Limited, he was associated with ICICI Limited, including ICICI Securities Limited, their investment banking joint venture with J P Morgan of US and Barclays – BZW, and G E Capital Services India Limited.
PRODUCTS AND DISTRIBUTION
IIFL Securities offers a varied product/service suite to its customers – equities, commodities, and currency broking, mutual fund distribution, depository participant services, portfolio management services, structured products, and Investment Banking.
"Our mutual funds' distribution AUM grew 25.6% to reach Rs 36.25 billion at the end of FY 18-19, supported by growth in the large-capp and index-linked stocks. Net mutual fund inflows for the year were Rs 3.53 billion. The retail investors remain committed to building long term wealth, as witnessed in our SIP AUM growing to ` 6.18 billion, a growth of 64.8% year on year" added Arindam.
Distribution strength was also witnessed when the Company emerged as the top distributor for the Non-Convertible Debentures (NCD) issue of India Infoline Finance Limited, by garnering Rs 106 billion of subscription from a large number of clients towards the same.
INSTITUTIONAL EQUITIES & INDIA'S NO 1 INVESTMENT BANKER
The Company's institutional equities research continued to be one of the best ranked on the Street.Venkataraman states "Despite the market volatility, especially in the second half of the fiscal, our investment banking division completed more than 15 transactions, including 3 IPOs, 4 QIPs, and 1 ReIT listing."
The Company has a robust pipeline of investment banking transactions across several product categories, which are in different stages of execution.
'AAA' – ADVISOR ANYTIME ANYWHERE
A one-stop solution for entrepreneurs interested in the capital market to facilitate those who want to follow the entrepreneurship route in the capital markets, IIFL Securities has launched a mobile office solution 'AAA' i.e. 'Advisor Anytime Anywhere'. Backed by healthy technology and expertise, AAA helps business partners/advisors manage their client's investments, access quality research & training and monitor their business performance all within a single device. A tab-based platform, AAA comes with in-built comprehensive and relevant features to assist its partners.
Arindam further adds, "IIFL Securities aims at creating 1 lakh entrepreneurs and 5 lakh jobs through its unique tab-based product named 'AAA – Advisor Anytime Anywhere'. IIFL's new product is designed to offer a complete mobile and convenient advisory solution that will facilitate individuals to evolve into financial services professionals."
IIFL MARKETS – INDIA'S NO 1 MOBILE STOCKS TRADING APP
Building on the successes of the previous years, the Company continues to improve its digital offerings in its retail broking business. The Company's mobile trading app 'IIFL Markets' remains the highest rated on Android and iOS among peers, with about 3million users.