The Indiabulls Group started in 1999. It used to be a retail stockbroking business. And over time, it expanded into financial services and real estate.
But anyone writing about the group today has to account for one important thing: the structure of the entire business is not the same anymore. There have been structural changes, promoter exits, and rebranding. Because of that, some businesses that were once known under the Indiabulls name now run under different names and management.
In this blog, we’ll discuss 4 of the key stocks of the Indiabulls Group.
The Indiabulls Group has massively driven the physical and financial growth of India's middle class during the 2000s and 2010s. Its presence has shaped how Indian retail consumers accessed credit and assets. On the broking side, it was part of the shift from offline trading to online retail investing. That helped bring more individual investors into the market. On the housing finance side, it expanded access to home loans beyond the usual salaried-bank customer base. That was especially relevant for self-employed borrowers and others who often found it harder to borrow from traditional banks. It also showed how large NBFC-led lending businesses could become outside the traditional banking system. And after the group split its businesses into separate listed companies, investors could track each segment more clearly instead of looking at one combined structure. Here are some of the prominent stocks within the Indiabulls group: Dhani Services Ltd Embassy Developments Ltd RattanIndia Power Ltd Sammaan Capital Ltd Business Overview: A digital-first platform offering online healthcare and transactional finance services. Dhani provides personal loans, pharmacy products, and stockbroking through its mobile app. They have pivoted from pure-play broking to a subscription-based health and wealth model. Strengths: High brand visibility Large existing user base Diverse revenue streams (e-pharmacy, digital clinics; personal lending) Risks: Consistent history of reported net losses Declining operational revenue High regulatory scrutiny (fintech) Analyst View: High-risk digital turnaround stock. Monitor quarterly loss reduction and active user growth. Business Overview: A major real estate business formed after Indiabulls Real Estate and Embassy Group merger. It develops premium residential and commercial projects across Mumbai, Bengaluru, and NCR. The company is now the primary catalyst for the Embassy Group’s listed realty business. Strengths: Backed by the Embassy Group Strong execution track record Grade A office space portfolio Massive land bank and development pipeline Risks: High promoter share pledging creating stock volatility Slow recovery in residential sales than competitors Analyst View: Rebranded real estate stock. Watch for debt reduction and new project launch timelines. Business Overview: A thermal power generation company operating coal-based plants in Maharashtra. It focuses on large-scale electricity production. The firm has shifted its focus entirely to thermal energy after exiting renewable ventures. Strengths: Operational capacity Strategically located plants or coal supply and power evacuation Risks: Possible financial strain and leverage Heavy promoter share pledging, exceeds 85%, signals potential liquidity stress Analyst View: Stressed power utility; avoid until debt restructuring and promoter pledging levels improve. Business Overview: A retail-focused housing finance company. It specialises in home loans and loans against property for individuals and MSMEs. IHC (Avenir Investment) is their new promoter. Strengths: A lean, tech-driven mortgage platform Lower debt-to-equity ratio Strong institutional backing Risks: Intense competition from large banks Vulnerability to interest rate cycles Analyst View: A rebounding mortgage lender; wait for clear signs of asset growth before buying. Before diving into Indiabulls Group stocks: Check the debt, cash flow, and profit quality first. After that, look at the sector risk. Real estate, finance, and power do not move on the same drivers, so each business needs to be judged on its own. Also pay attention to the current management structure. With groups that have gone through restructuring and rebranding, the old name does not always tell you enough. And as always, make sure the stock price still justifies the business you’re getting. Indiabulls Group stocks present a mixed yet potentially rewarding investment opportunity. With its diverse portfolio across financial services, real estate, and power generation, the group offers growth potential in several key sectors of the Indian economy. However, like any investment, it’s important to consider the risks involved, particularly around regulatory changes, market volatility, and sector-specific challenges. For investors seeking exposure to the Indian financial services and real estate sectors, Dhani Services Ltd and Embassy Developments Ltd offer promising growth trajectories. RattanIndia Power Ltd and Sammaan Capital Ltd, while showing potential, come with risks that need careful attention. Is Indiabulls a listed company? Is Indiabulls a good buy? Is Indiabulls a CDSL or NSDL? Who is the owner of Indiabulls?Market Context: Indiabulls’ Role in India’s Financial Sector
Comparison Table
Indiabulls Group Stocks List in India
1. Dhani Services Ltd (formerly Indiabulls Ventures Ltd)
2. Embassy Developments Ltd
3. RattanIndia Power Ltd
4. Sammaan Capital Ltd
Factors to Consider Before Investing
Conclusion
FAQs
Yes, several companies linked to the wider Indiabulls Group are listed on Indian stock exchanges.
That depends on the company. Indiabulls has multiple companies listed under its brand. And these businesses do not operate in the same sector. Their risks and growth triggers are different.
No. CDSL and NSDL are depository institutions. Indiabulls companies are separate listed businesses.
No one is the owner of Indiabulls because it is a listed company and it has verious public shareholders. But it was founded by Sameer Gehlaut.
The company was originally called Indiabulls Financial Services. Some businesses that earlier operated under the Indiabulls name were later restructured or rebranded.