India Infoline Limited (IIL), incorporated in 18th October of the year 1995 as Probity Research & Services Private Limited at Mumbai. The India Infoline is a one-stop shop for information, advice as well as transaction execution of financial services. IIL along-with its subsidiaries caters to entire gamut of financial services including equities and commodities broking, portfolio management, distribution of mutual funds, life insurance products, home loans, personal loans, etc. Broking services are offered under the 5paisa brand (offers broking services in the Cash and Derivatives segments of the NSE as well as the Cash segment of the BSE). The company has proven research capabilities and was rated by the Forbes as `the best of web' and `must read for investors'. A network of 758 business locations spread over 346 cities across India, facilitates the smooth acquisition and servicing of a large customer base. India Infoline's research is available not just over the Internet but also on international wire services like Bloomberg (Code: IILL), Thomson First Call and Internet Securities where it is amongst the most read Indian brokers. The Company identified the potential of the Internet to cater to a mass retail segment and transformed its business model from providing information services to institutional customers to retail customers. Hence IIL launched its Internet portal, www.indiainfoline.com in May of the year 1999 and started providing news and market information, independent research, interviews with business leaders and other specialized features. IIL was converted into a Public Limited Company in 28th April of the year 2000 and the name of the Company was changed to Probity Research & Services Limited. The name of the company was changed to India Infoline.com Limited in 23rd May of the year 2000. During 23rd March of the year 2001, again the name was changed as India Infoline Limited. IIL acquired 100% shares of Agri Marketing Services Limited during March of the year 2000. In the year 2000, IIL leveraged its position as a provider of financial information and analysis by diversifying into transactional services, primarily for online trading in shares and securities and online as well as offline distribution of personal financial products, like mutual funds and RBI Bonds. These activities are carried on through the wholly owned subsidiaries. The broking service was launched under the brand name of 5paisa through our subsidiary, India Infoline Securities Private Limited and www.5paisa.com, the e-broking portal, was launched for online trading in June of the year 2000. It combined competitive brokerage rates and research, supported by Internet technology. Besides investment advice from an experienced team of research analysts, also offer real time stock quotes, market news and price charts with multiple tools for technical analysis. In December of the year 2000, India Infoline Insurance Services Limited (subsidiary) became a corporate agent for ICICI Prudential Life Insurance Company Limited. In the year 2004, the company launched commodities broking through its subsidiary India Infoline Commodities Private Limited. Also received a license for Portfolio Management Services from SEBI for broking subsidiary. During the year 2006, the company received the requisite prior approval from The Securities and Exchange Board of India for its proposed merger of India Infoline Securities Private Limited (IISPL), a wholly owned subsidiary with itself. It had earlier received in-principle approval from National Stock Exchange and The Stock Exchange, Mumbai. In January of the year 2007, the company entered into an alliance with Bank of Baroda for providing Brokerage Platform, besides research and analysis services to the bank's customers. India Infoline awarded the `Best Broker in India' by Finance Asia. This was a result of Finance Asia's annual look at the best financial services firms in each country around Asia for the period from June 2007 to May 2008. During March of the year 2008, India Infoline's institutional broking arm IIFL, partnered with Auerbach Grayson & Company, Inc., a New York-based brokerage firm to offer US investors premium access to investing in India's capital markets. Auerbach Grayson specializes in providing global trade execution and exclusive research to U.S. institutional investors. As of July 2008, the company received the in-principle approval for the insurance broking licence from IRDA.