IIFL, officially known as IndiaInfoline Finance Limited, is a public limited company.
Evolution from Private to Public
IndiaInfoline Finance Limited (IIFL) has a history that traces its roots back to a private entity before transitioning to its current public status. Initially, the company was incorporated on October 18, 1995, in Mumbai under the name Probity Research & Services Private Limited.
Key Milestones in IIFL's Transformation
The pivotal shift in the company's structure occurred through the following key milestones:
- October 18, 1995: The company was incorporated in Mumbai as Probity Research & Services Private Limited.
- April 28, 2000: It converted into a Public Limited Company.
- Concurrently with conversion: The name of the company was changed to Probity Research & Services Limited.
This transformation signifies IIFL's shift from a privately held entity, where ownership is typically restricted to a smaller group, to a public company. As a public limited company, its shares can be traded by the general public on stock exchanges, and it is subject to public disclosure requirements and regulatory oversight, ensuring transparency for its shareholders and the broader market. Today, IIFL Finance operates as a prominent financial services company in India, serving a wide array of clients with various financial products and services.
