Indian investors opened a record 14.2 million new DEMAT accounts in the financial year end March 2021. This is nearly three times the figure in the previous financial year, as the global pandemic and business disruptions opened-up new investment opportunities.
The company is a part of the diversified financial services conglomerate IIFL Group, which was founded by legendary serial entrepreneur
Mr. Nirmal Jain. Starting from a small research firm – Probity, the group has transformed into a multi-billion-dollar empire in just over two decades.
The bellow are the highlights of the interview with Insights Success a business solutions magazine.
The Founder’s Tale
Mr. Nirmal Jain, Founder of IIFL Group, is a rank-holder chartered accountant and MBA from IIM Ahmadabad. He started his career with Hindustan Unilever just before Indian economy underwent economic liberalization. Mr. Jain decided to take the entrepreneurial plunge in 1995 and started a research house which produced high-quality research on many Indian companies. Such information was not earlier available with Indian investing community and within no time reputation grew multi-fold.
IIFL Tomorrow
IIFL Securities has brought about many innovations and positive disruptions to Indian broking industry even when digital transformation was in an early stage. The company’s well known Trader Terminal desktop application is a legend among traders and IIFL Markets app revolutionized the mobile-based trading in India forever.
IIFL aims to maintain its leadership position in broking, advisory, financial products distribution, institutional equities, and investment banking areas. The company recently acquired over 11 lac demat accounts of Karvy and aims to add 1 crore more customers in the next three years.
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