Sameer Gehlaut
Encyclopedia
Young entrepreneur Sameer Gehlaut established Indiabulls
in 2000, after acquiring Orbis Securities, a stock brokerage company in Delhi
. The group started its operations from a small office near Hauz Khas
bus terminal in Delhi.The office had a tin roof and two computers.
In less than 10 years the group has become one of the leading financial services
and real estate
company in India,they have a land bank
of more than 10000 acres (40.5 km²).
Sameer Gehlaut is India’s youngest self made billionaire
at just 34 years of age. According to Forbes
(2008), he has a net worth of $1.2 billion.He is the 962nd richest person in the world and 45th richest in India.
Sameer Gehlaut completed his Mechanical Engineering from IIT Delhi in 1995 .He worked for Halliburton
in the United States
. He came back to India to start an earth moving
and mining
business ,which is presently run by his family.
In 2000 Sameer Gehlaut was only 26 when he started Indiabulls with the help of Saurabh Mittal and Rajiv Rattan. Mittal and Rattan were his friends at IIT Delhi.
Indiabuls were the pioneers in the online brokerage business segment. The company had a young management team and were able to raise money from time to time. Its investors included LN Mittal and Farallon Capital
. In September 2004 the company came out with its IPO
.
Indiabulls started as an online brokerage company but over the years they have added new products and services .They also entered into new business segments.The group’s business interests include real estate ,consumer finance ,mortgages, retail and power.They have a market capitalization
of more than Rs. 25000 crores.
We can recall that Indiabulls acquired 7.8 acres (31,565.5 m²) of land from NTC for Rs 441.75 crore,this was the Elphinstone Mills land in Lower Parel, Mumbai
.They also acquired 11 acres (44,515.5 m²) of the Land from NTC for Rs 276.6 crore,this was the land of Jupiter Mills in Lower Parel,Mumbai.
Indiabulls acquired more than 115 acre (0.4653889 km²) of land in Sonepat, Haryana
for developing residential real estate.
Indiabulls entered into a joint venture
with Sogecap for its foray into the Life insurance
business. Sogecap is the Life insurance subsidiary of the French company Societe Generale
.
Indiabulls
Indiabulls is an Indian company with its presence in the Real Estate, Infrastructure, Financial Services, Securities, Retail, Multiplex and Power sectors....
in 2000, after acquiring Orbis Securities, a stock brokerage company in Delhi
Delhi
Delhi , officially National Capital Territory of Delhi , is the largest metropolis by area and the second-largest by population in India, next to Mumbai. It is the eighth largest metropolis in the world by population with 16,753,265 inhabitants in the Territory at the 2011 Census...
. The group started its operations from a small office near Hauz Khas
Hauz Khas
Hauz Khas Complex in South Delhi houses a water tank, an Islamic seminary, a mosque, a tomb and pavilions built around an urbanized village with medieval history traced to the 13th century of Delhi Sultanate reign...
bus terminal in Delhi.The office had a tin roof and two computers.
In less than 10 years the group has become one of the leading financial services
Financial services
Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...
and real estate
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
company in India,they have a land bank
Land Bank
A land bank is a bank that issues long-term loans on real estate in return for mortgages. This term could also apply to:*The Land Bank of Taiwan, a wholly state-owned bank of the Republic of China...
of more than 10000 acres (40.5 km²).
Sameer Gehlaut is India’s youngest self made billionaire
Billionaire
A billionaire, in countries that use the short scale number naming system, is a person who has a net worth of at least one billion units of a given currency, usually the United States dollar, Euro, or Pound sterling. Forbes magazine updates a complete list of U.S. dollar billionaires around the...
at just 34 years of age. According to Forbes
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
(2008), he has a net worth of $1.2 billion.He is the 962nd richest person in the world and 45th richest in India.
Sameer Gehlaut completed his Mechanical Engineering from IIT Delhi in 1995 .He worked for Halliburton
Halliburton
Halliburton is the world's second largest oilfield services corporation with operations in more than 70 countries. It has hundreds of subsidiaries, affiliates, branches, brands and divisions worldwide and employs over 50,000 people....
in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. He came back to India to start an earth moving
Earth Moving
Earth Moving is the 12th record album by Mike Oldfield, released in 1989.- Album analysis :Oldfield used several vocalists on the album, including his then girlfriend, Anita Hegerland. The album's music was performed mainly with synthesizers...
and mining
Mining
Mining is the extraction of valuable minerals or other geological materials from the earth, from an ore body, vein or seam. The term also includes the removal of soil. Materials recovered by mining include base metals, precious metals, iron, uranium, coal, diamonds, limestone, oil shale, rock...
business ,which is presently run by his family.
In 2000 Sameer Gehlaut was only 26 when he started Indiabulls with the help of Saurabh Mittal and Rajiv Rattan. Mittal and Rattan were his friends at IIT Delhi.
Indiabuls were the pioneers in the online brokerage business segment. The company had a young management team and were able to raise money from time to time. Its investors included LN Mittal and Farallon Capital
Farallon Capital
Farallon Capital Management, L.L.C. is an American global investment firm that manages capital on behalf of institutions and individuals. The firm was founded by Tom Steyer in 1986...
. In September 2004 the company came out with its IPO
Initial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
.
Indiabulls started as an online brokerage company but over the years they have added new products and services .They also entered into new business segments.The group’s business interests include real estate ,consumer finance ,mortgages, retail and power.They have a market capitalization
Market capitalization
Market capitalization is a measurement of the value of the ownership interest that shareholders hold in a business enterprise. It is equal to the share price times the number of shares outstanding of a publicly traded company...
of more than Rs. 25000 crores.
We can recall that Indiabulls acquired 7.8 acres (31,565.5 m²) of land from NTC for Rs 441.75 crore,this was the Elphinstone Mills land in Lower Parel, Mumbai
Mumbai
Mumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million...
.They also acquired 11 acres (44,515.5 m²) of the Land from NTC for Rs 276.6 crore,this was the land of Jupiter Mills in Lower Parel,Mumbai.
Indiabulls acquired more than 115 acre (0.4653889 km²) of land in Sonepat, Haryana
Haryana
Haryana is a state in India. Historically, it has been a part of the Kuru region in North India. The name Haryana is found mentioned in the 12th century AD by the apabhramsha writer Vibudh Shridhar . It is bordered by Punjab and Himachal Pradesh to the north, and by Rajasthan to the west and south...
for developing residential real estate.
Indiabulls entered into a joint venture
Joint venture
A joint venture is a business agreement in which parties agree to develop, for a finite time, a new entity and new assets by contributing equity. They exercise control over the enterprise and consequently share revenues, expenses and assets...
with Sogecap for its foray into the Life insurance
Life insurance
Life insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger...
business. Sogecap is the Life insurance subsidiary of the French company Societe Generale
Société Générale
Société Générale S.A. is a large European Bank and a major Financial Services company that has a substantial global presence. Its registered office is on Boulevard Haussmann in the 9th arrondissement of Paris, while its head office is in the Tours Société Générale in the business district of La...
.