Founded in 1925, when the family patriarch, Mr. Champaklal Devidas Dalal, established a government securities business, the Group later diversified under the leadership of Mr. Bhupen Dalal into merchant banking and financial services with the incorporation of Champaklal Investment and Financial Consultancy Limited in 1973, subsequently renamed CIFCO Limited.

A true pioneer in its era, the firm introduced the Non-Resident Investment Scheme and played a notable role in the Indianization of major multinational corporations under FERA.

With a strong presence across stockbroking, corporate finance, and portfolio management, CIFCO was entrusted with the IPOs of several of India's most respected and enduring companies.