The Indiabulls Group is an Indian conglomerate headquartered in Gurgaon, whose primary businesses are Real Estate, financial services, and LED lighting. Founded in 2000 as a stockbroking firm, the group underwent several major restructurings between 2006 and 2024, spinning off its real estate, power, and primary housing finance divisions into separate, independent entities. In 2022, the company faced regulatory scrutiny and a monetary penalty from the Reserve Bank of India following a widespread identity theft vulnerability involving its Dhani lending platform. In 2025, following a merger of its remaining subsidiaries, the core entity was consolidated as Indiabulls Limited. Wikipedia