TOGETHER, WE ACHIEVE MORE.

Power Of One

About FFSIL

We are everything finance.

Incorporated in 1991, FFSIL is one of the largest Financial Services conglomerate offering a range of products and services from Lending, Equities and Derivatives trading, Equity Research, Commodities Trading, Portfolio Management Services, Distribution of Mutual Funds, IPO & Insurance products and Investment Banking Services. At the core, lies our belief of fostering entrepreneurial led development across India by empowering our customers in taking better decisions through trust. We are present in 75+ locations with a staff strength of over 1200. With a young, dynamic and experienced management team heading our businesses, we are constantly embedding innovation and design thinking in our processes, products and services. Our insightful solutions create intrinsic value for all our stakeholders and our business acumen gives us the ability to understand the levers that affect business drivers through smart decisions.

Our Group Entities

Fortune Financial Services (India) Limited

Fortune Financial Services (India) Limited was incorporated in the year 1991. Initially the Company was registered as an NBFC and later on acquired registration certificate from SEBI to carry on the business of Merchant Banker. In 2015 the company surrendered Merchant Banking registration certificate to SEBI and currently is engaged in the business of Financial Consultancy, Advisory services and other trading activities. The company has verticals to carry on its various finance sector related businesses.

Intime Equities Limited

The company is a 100% subsidiary of Fortune Financial Services (India) Limited. It is a trading member of the BSE Limited and the National Stock Exchange of India Limited (NSE) for various segments. It is also a depository participant for the CDSL, is actively involved in securities broking business and also offers various financial products to the customers.

Intime Multi Commodity Company Limited

The company is a 100% subsidiary of Fortune Financial Services (India) Limited. It is a trading member of the MCX and NCDEX, two leading commodity exchanges and is actively involved in commodities broking business.

Fortune Credit Capital Limited

Fortune Credit Capital Ltd. is 100% subsidiary company of Fortune Financial Services (India) Limited. It is formed for the purpose of financing, lending to the clients against shares. The Company has received license from RBI for NBFC operations.

ITI Asset Management Limited

ITI Asset Management Limited (AML) is a subsidiary of Fortune Financial Services (India) Limited (FFSIL) in which FFSIL holds 60% stake and remaining 40% has been held by Fortune Credit Capital Limited. The company’s principal activity is to act as an Investment Manager for the proposed Mutual Fund business. The Investment Management Agreement has been executed between ITI Mutual Fund Trustee Private Limited and ITIAML on April 7, 2017.

Fortune Integrated Home Finance Limited

The company is a 100% subsidiary of Fortune Financial Services (India) Limited and has made an application to the Reserve Bank of India to act as NBFC.

Antique Stock Broking Limited

The company is a 100% subsidiary of Fortune Financial Services (India) Limited. It is a trading member of the BSE Limited and the National Stock Exchange of India Limited (NSE) for various segments and is also a Depository participant for the CDSL. It offers services mainly to the institutional clients.

Inga capital Limited

The company is a 100% subsidiary of Fortune Financial Services (India) Limited. It is registered with SEBI as Category I Merchant banker. It acts as merchant banker for various issues like IPO, FPO, rights, buy back, open offer etc.

Distress Asset Specialist Private Limited

The company is a 100% subsidiary of Fortune Financial Services (India) Limited and is acting as Debt recovering agent.

The Investment Trust of India Limited

The company is a subsidiary of Fortune Financial Services (India) Limited in which FFSIL holds 75.17% stake. The Company is in to the business of wealth and Investment advisors.

ITI Reinsurance Limited

The company is a subsidiary of Fortune Financial Services (India) Limited (FFSIL) in which FFSIL holds 80% stake. It has received registration certificate from IRDAI to carry on the reinsurance business.

ITI Gilts Private Limited

The company is a 100% subsidiary of Fortune Financial Services (India) Limited. It is engaged in the business of whole Sale debt market. The Company has obtained registration from BSE Limited to act as trading member.

ITI Gilts Pvt. Ltd. is a complete solution provider for fixed income, aimed at quenching all your financial and investment related needs under one-roof. The company provides collective intellectual experience of our leadership team to provide integrated solutions to our diversified client base. Through extensive business verticals and presence across the value chain, ITI GILTS offers complete solutions for the fixed income needs of the client. The company utilizes sophisticated advisory tools to operate a varied class of clients such as Mutual Funds, Insurance Companies, Banks, FIIs, Corporate Treasuries, HNIs, Retail Investors and Retirement Trusts.

ITI Mutual Fund Trustee Private Limited

ITI Mutual Fund Trustee Private Limited (ITIMFTPL) is a 100% subsidiary of Fortune Financial Services (India) Limited. The company’s principal activity is to act as Trustee for the proposed Mutual Fund business. The Trust Deed has been executed on April 6, 2017 between Fortune Financial Services (India) Limited, Fortune Credit Capital Limited and ITIMFTPL.

Fortune Integrated Assets Finance Limited

The company is an associate of Fortune Financial Services (India) Limited (FFSIL) wherein FFSIL holds 25% of the total issued capital of the company. It is an NBFC registered with the Reserve Bank of India and the Company is engaged in the business of vehicle finance.

United Petro Finance Limited

The company is an associate of Fortune Financial Services (India) Limited wherein FFSIL holds 40.60% of the total issued capital of the company. It is an NBFC registered with the Reserve Bank of India and the company offers collateral-free short-term business loans with customized loan repayments to its MSME customers. These loans are tailor-made to suit each customer segment and are aligned to the underlying cash flows of these businesses. The company sees beyond the ‘perceived risk’ tag that traditional financing channels have assigned these deserving businesses, by way of its highly researched and unique proprietary underwriting methodology.

UPF is committed to deliver financing to customers with a combination of superior underwriting frameworks, lightning fast speeds, hassle free documentation and truly customer-centric processes that deliver a visibly high standard of customer delight with a ‘WOW’ factor.

Our Vision & Philosophy

Vision

Emerge as the most respected and culturally strong financial services conglomerate using our structuring strength and technology.


Mission

Strengthen our position as one of the top 10 market players in financial services by 2020, through value maximization for all stakeholders with a customer centric approach across products & services.


Values
  • We are transparent and fair with our stakeholders.
  • We work in an environment of good governance, professionalism and integrity.
  • We respect each other including our customer needs & develop products and services that suit their requirements.
  • We are committed to enhancing financial literacy in India through financial inclusion and wider access to financial services.
  • We use innovation, technology and design thinking to ensure sustainability of business processes and functions.
  • We integrate risk management with decision making to develop a culture of entrepreneurial led thinking.

Why FFSIL?

Experienced Management

Young dynamic professionals building unique services aimed solely towards the growth of our clients.

Technology

Our investment in technology and analytics enabling speed and transparency in the delivery of our products and services.

Customised Solutions

Everything finance you can think, want and need, delivered through customized solutions using our structuring strength.

Strategic Partners

Our focus on building relationships with customers making us an ideal partner for all financial products and services.

Our Journey

FFSIL has come a long way since its inception in 1991, overcoming numerous obstacles in the evolution from a fledging start-up to India’s leading partner in Finance. Here is a chronicle of our organization right from early beginnings till today, providing a historic perspective of the inception of FFSIL, our various Group Companies and our achievements since.

Mr. J.T. Poonja and Mr. Nimish C. Shah incorporated Fortune Financial Services (India) Private Limited as a Non-Banking Financial Company (NBFC). Besides core investment banking and corporate advisory services, Fortune's also focused on fund based activities such as lease, hire purchase, bill discounting and inter-corporate loans

Fortune declared dividend 10%

Fortune became a SEBI registered Category - I Merchant Banker

Fortune declared dividend 12.5%

In anticipation of a potential IPO, the name of the Company was changed to Fortune Financial Services (India) Ltd.

Opened an office in New Delhi to increase the scope of activities

Fortune declared dividend 15%

Authorized Capital of Fortune was increased to Rs.600 lacs

Fortune made an Initial Public Offering (IPO) of 25 lac equity shares of Rs.10/- each at a premium of Rs. 20/- per share aggregating to Rs.750 lacs. The issue was over subscribed by 2.52 times

Fortune was listed on the Bombay Stock Exchange, Delhi Stock Exchange, Ahmedabad Stock Exchange and Madras Stock Exchange

Fortune opened a branch office in Bangalore

Fortune was associated with 10 issues aggregating to Rs.115 crores as Lead / Co-managers

Fortune was involved with underwriting 113 issues for an aggregate amount of Rs. 26 crores

Company received membership of National Stock Exchange (NSE). Fortune promoted a separate company called Good Fortune Advisory Services Pvt. Ltd., to operate this activity and invested Rs.10 lacs towards share capital

Fortune declared dividend 16%

Fortune launched its consumer finance division with a primary focus on car financing. Opened offices in Pune and Mangalore

Fortune handled 9 Investment Banking assignments in its capacity as Lead Managers/ Co-Managers/ Advisors aggregating to Rs.176 crores. This included the issue of Search Chem Industries Limited, a group company of United Phosphorus Limited

Fortune set up its in-house equity research division with a view to provide equity research to corporate clients and support its corporate finance and investment banking activities

Fortune started accepting fixed deposits from public. The fixed deposit schemes of the Company is rated "FA" by CRISIL

Besides having a fixed deposit center in Mumbai, Fortune opened centers in Madras, Bangalore and New Delhi

Fortune declared dividend 20%

In order to broaden its base in consumer finance, Fortune took up office equipment finance in addition to car financing

Fortune extended its focus to External Commercial Borrowings, private placement of Non-Convertible Debentures and Preference Shares for mobilizing funds for its corporate clients

Opened offices at Chennai and Chandigargh to promote consumer finance and corporate financing activities

Fortune declared dividend 22%

Due to a downturn in the market conditions, Fortune's senior management decided to suspend the NBFC activities effective from April 1998

The fixed deposit scheme of Fortune was rated "FA" by CRISIL on account of its timely repayment of interest, repayment of the principal and the safety of the deposits

Fortune stopped accepting / renewing fixed deposits since April 1998

Fortune declared dividend 15%

Fortune Financial became the 1st Indian company to go in for a buyback of its shares, subsequent to the guidelines for Buyback of shares coming into effect from Jan 1999

Fortune offered to buyback 25% of its paid-up capital of Rs.549 lacs at an offer price of Rs.10/- each per share as against the average quoted market price of Rs.5.65 per share. An amount of Rs.114 lacs was reduced from the share capital consequent to the buyback

Successfully completed the second buyback and reduced Rs. 47 lacs from the share capital

Fortune prepaid / repaid all its fixed deposit outstanding along with interest

Acquired Corporate Membership of Bombay Stock Exchange Limited (BSE)

In addition to Investment Banking and Corporate Advisory Services, Fortune launched its stock broking activities

Fortune concluded two major deals involving a FMCG company and a well know media Company's private placement of equity shares

Fortune completed the private placement of equity shares of Popular Entertainment Network Limited and clickforcotton.com, India's first cotton exchange portal

Managed few IPOs, take over offers and right issue despite adverse market conditions

Fortune also made a secondary market placement of equity shares for Goldstone Technologies Ltd., and Mirc Electronics Limited

Fortune commenced its full fledged broking operation by empanelling with leading FIs / MFs / Banks

Fortune completed a major take over offer of Noble Explochem

Reserve Bank of India de-registered Fortune as a NBFC

Fortune's equity shares are voluntarily de-listed from Madras Stock Exchange

Managed open offers of Gujarat JHM Hotels Ltd., Punjab Chemicals and Pharmaceuticals Ltd.

Fortune's equity shares are voluntarily de-listed from Ahmedabad Stock Exchange Ltd

Fortune empanelled with three institutions for secondary market business

Fortune empanelled with seventeen institutional clients for its secondary market business

Fortune was appointed as merchant bankers to manage an open offer by Zircon Traders Ltd.

Successfully completed the FCCB issues for Alok Industries Limited and United Phosphorus Limited raising approximately US$ 110 million

Opened its branch at Hyderabad to promote stock broking activities

Fortune's shares are voluntarily de-listed from Delhi Stock Exchange

Subsidiary company started mutual fund distribution during FY 2003-04

Fortune declared an interim dividend of 10% and final dividend of 5% during FY 2004-2005 after gap of six years due to carry-forward losses

Fortune was associated with ECB/FCCB overseas fund raising for its Indian mid-sized corporate clients in excess of US$ 250 million

Fortune was involved with varied domestic assignments - follow on issues, buyback program, open offers and IPOs for Indian mid-sized corporate clients

Fortune proposes to increase its capital base by making a bonus issue during FY 2005-2006

Opened a branch office in Goa

Commenced F&O operations on the National Stock Exchange (NSE)

Shareholders of Fortune approved the issuance of bonus shares in the ratio of 1:1

Allotment of bonus shares was completed on March 31, 2006

Commenced DP Services

FFSIL acquired by Mr. Sudhir Valia

FFSIL acquired:

1. Antique Stock Broking Ltd.

2. Intime Multi Commodity Company Ltd.

3. Intime Equities Ltd.

- Total investment in subsidiaries was around Rs. 12 crores

FFSIL acquired

1. ITI Investment Advisors Ltd.

2. Inga Capital Private Ltd.

- Total investment in subsidiaries was around Rs. 91 crores

FFSIL acquired

1. ITI Wealth Management Private Ltd.

2. Distress Asset Specialist Private Ltd.

3. Kohinoor Reinsurance Co. Ltd.

4. United Petro Finance Ltd.

- Total investment in subsidiaries was around Rs. 9 crores

- Rights issued worth Rs. 204 crores

FFSIL received licensing for

1. Portfolio Management Services (SEBI approval)

2. Asset Reconstruction Business (RBI approval)

3. Reinsurance Business (IRDA approval)

- FFSIL investment in ITI reinsurance was Rs. 164 crores

Management Team

Our Board of Directors oversees the management of the company with the sense of finally amounting to the ultimate good for our clients and stakeholders.

Professionally run businesses led by a young and dynamic management team.

Supported by our Mentor Mr. Sudhir Valia and highly experienced expert advisors.