In middle of 1999, when e-commerce was just about starting in India, Sameer Gehlaut bought a defunct securities company with a NSE membership and started offering brokerage services. By December 1999, the company embarked on its journey to build one of the first online platforms in India for offering internet brokerage services. In January 2000, Indiabulls Financial Services was incorporated as the flagship company.

In late 2000, Indiabulls Securities, a subsidiary of Indiabulls Financial Services started offering online brokerage services and simultaneously opened physical offices across India. By 2003, Indiabulls securities had established a strong pan India presence and client base through its offices and on the internet.

In September 2004, Indiabulls Financial Services went public with an IPO at Rs.19 a share. In late 2004, Indiabulls Financial Services started it's financing business with consumer loans. In March 2005, Indiabulls Properties Private Ltd, a subsidiary of Indiabulls Financial Services, participated in government auction of Jupiter Mills, a defunct 11 acre textile mill owned by NTC in Lower Parel, Mumbai. Indiabulls Properties Private Ltd. won the mill in auction and that purchase started Indiabulls Real Estate business. A few months later, Indiabulls Real Estate Company Pvt. Ltd. bought Elphinstone Mill in Lower Parel, another textile mill auctioned by NTC.

Solutions Beyond
With real estate business gaining size, Indiabulls Financial Services demerged the real estate business under Indiabulls Real Estate and each shareholder of Indiabulls Financial Services received additional share of Indiabulls Real Estate through the demerger. Subsequently, Indiabulls Financial Services also demerged Indiabulls Securities and each shareholder of Indiabulls Financial Services also received a share of Indiabulls Securities. Today, Indiabulls Group has a net worth of over Rs. 17,792 crore and the market capitalization stands at over Rs.48,848  crore. Indiabulls Group has a strong presence in important sectors like financial services & real estate through independently listed companies and the group continues its journey of building businesses with strong cash flows.