HB Portfolio was initially incorporated under the name of HB Stockholdings on August 18, 1994 with the main object of undertaking the financial services. The name of the company was subsequently changed on February 19, 1997 to the present name of HB Portfolio. Pursuant to a scheme of arrangement sanctioned by the Delhi High Court the merchant banking division of HB Portfolio Leasing (now known as HB Stockholdings) was transferred to and vested in the company.