We are everything in finance

Incorporated in 1991, The Investment Trust of India Limited 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.


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


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

Our Values

We are transparent and fair with our stakeholders.We work in an environment of good governance, professionalism, integrity and mutual respect

Our journey

ITI 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 ITI, our various Group Companies and our achievements since.

  1. Antique Stock broking (IFCS) private Limited received India International Exchange (IFSC) Limited and NSE IFCS Limited for trading in securities at International level.
  2. Incorporated wholly owned subsidiary viz. ITI Nirman Limited
  3. Received amalgamation order from NCLT Chennai Bench for merger of The Investment Trust of India Limited with Fortune Financial Services (India) Limited
  4. Acquired remaining 49% of the stake in ITI Gilts Limited (earlier known as Crest Debt Capital Markets Private Limited)
  5. Acquired IRC Credit Management Services Limited as wholly owned subsidiary
  • ITI received licensing for

    1. Asset Reconstruction Business (RBI approval)
    2. Reinsurance Business (IRDA approval)
  • - ITI investment in ITI reinsurance was Rs. 164 crores

  • ITI acquired
    1. ITI Wealth Management Private Ltd.
    2. Distress Asset Specialist 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
    1. ITI acquired
      1. ITI Investment Advisors Ltd.
      2. ITI Capital Ltd.
    2. -Total investment in subsidiaries was around Rs. 91 crores

      ITI 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

    ITI acquired by Mr. Sudhir Valia

    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

    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)

    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

    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 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

    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

    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 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

    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%

    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%

    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%

    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%

    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%

    Fortune became a SEBI registered Category - I Merchant Banker

    Fortune declared dividend 12.5%

    Fortune declared dividend 10%

    Mr. J.T. Poonja and Mr. Nimish C. Shah incorporated The Investment Trust of India 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


    Experienced management

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


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

    Customized solutions

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

    Strategic parteners

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

    Leaders at

    Mr. Chintan Valia


    Mr. Asit Mehta


    Papia Sengupta

    Independent Director

    Mr. Pankaj Bhuta

    Independent Director

    Ms. Khyati Valia


    Mr. Alok Kumar Misra

    Independent Director

    Mr. Aalok Dave

    ARC Advisory

    Mr. Ashish Maheshwari

    Institutional Broking

    Mr. Dharmesh Ojha

    Debt Market

    Mr. Amit Malpani

    Chief Executive Office

    Mr. Rajesh Bhatia

    Mutual Fund

    Mr. Mohit Gulati


    Mr. Jignesh Sangani

    Group Accounts

    Ms. Darshna Mehta

    Group HR & Admin

    Mr. Satish Bhanushali

    Company Secretary

    Mr. Subbiah Manickam

    Chief Financial Officer

    Mr. Sudhir Valia

    Group Mentor

    Mr. Kirti Doshi

    Group Advisor