Company lists
The Mumbai edition · 2026

Asset managementcompanies in Mumbai

Mutual funds, wealth management, investment banks, private equity & VC, advisory & consulting and more: the companies building asset management in Mumbai, Maharashtra, with their founders, funding, team size and business models.

604 company profiles203 with reported revenue17 with recorded fundingSeptember 2026 edition
Mumbai · Photo: Wikimedia Commons (Creative Commons Attribution-ShareAlike 4.0)

Recent asset management business events in Mumbai

Funding, M&A, contract wins and launches involving 652 asset management companies in Mumbai, last 24 months: 127 M&A deals · 26 funding rounds · 13 launches · 8 Contracts. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: Jun 2026.

M&AAcquisition · Announced

Mirae asset mutual fund acquires Equitas small finance bank

It has informed that the Reserve Bank of India has granted approval to Mirae Asset Mutual Fund to acquire a stake of up to 9.5% in the bank's paid-up capital or voting rights.

Banking
M&AAcquisition · Completed

Authum investment & infrastructure acquires Prataap Snacks

Promoter Authum Investment & Infrastructure has acquired 3.11 lakh shares (1.3 percent) in Prataap Snacks for Rs 31.26 crore at Rs 1,004.38 per share.

Snack food manufacturer
FundingPrivate Placement NCD

Aditya birla capital

Aditya Birla Capital has raised Rs 200 crore through allotment of Non-Convertible Debentures (NCDs) on private placement basis.

Investors Na
Financial services
M&AAcquisition · Announced

360 one acquires Bharti Group

When a 15% stake sale to 360 One implied valuation of 3,000 crore, or about 1.1 times the embedded value (EV).

Insurance
LaunchLeadHerShip

Aditya birla capital

Aditya Birla Capital Limited, has introduced ‘LeadHerShip’, a women-to-women mentorship and incubation initiative under its flagship fintech engagement platform, InFiniTe.

Women entrepreneurship mentorship and incubation initiative
M&AMerger · Announced

Piramal finance acquires DHFL Investments Limited

In addition to the NCD issuance, the board also approved a scheme of amalgamation involving Piramal Finance Limited and its wholly-owned subsidiaries: Piramal Corporate Tower Private…

M&AMerger · Announced

Piramal finance acquires Piramal Agastya Offices Private Limited

In addition to the NCD issuance, the board also approved a scheme of amalgamation involving Piramal Finance Limited and its wholly-owned subsidiaries: Piramal Corporate Tower Private…

M&AAcquisition · Completed

Hdfc mutual fund acquires Wakefit

The mutual fund acquired 30,00,000 shares of Wakefit Innovations through open market transactions, representing 0.91% of the company's total share capital.

Mutual Fund
ContractService

One Point One Solutions Limited · client: Piramal finance

Mumbai : One Point One Solutions Limited (NSE: ONEPOINT), a leading provider of technology-enabled Business Process Management (BPM) and customer experience operations, today announced…

BFSI
M&AAcquisition · Completed

Sbi mutual fund acquires Urban company

Shares of Urban Company surged over 13 per cent on the exchanges on Wednesday after SBI Mutual Fund has acquired nearly a 4 per cent stake for Rs 632 crore.

Mutual Fund
M&AAcquisition · Completed

Nippon india mutual fund acquires Omnitech engineering

The mutual fund acquired shares in Omnitech Engineering Limited on March 04, 2026, with the formal disclosure made on March 06, 2026.

Engineering
M&AAcquisition · Completed

Motilal oswal financial services acquires Zelio E-Mobility

According to exchange filings, Motilal Oswal Financial Services acquired 3.5 lakh shares of Zelio E-Mobility, representing a 1.65 percent stake, at a price of ₹280 per share.

FundingPublic issue of secured redeemable non‑convertible debentures

Edelweiss financial services

Edelweiss Financial Services Limited, on March 2, 2026, announced a Rupees 3,500 million public issue of secured redeemable non‑convertible debentures.

Financial Services
M&AAcquisition · Completed

Ppfas mutual fund acquires Cms info systems

The mutual fund acquired 17,64,757 shares of CMS Info Systems through open market purchases on February 26, 2026. This acquisition represents 1.07% of the company's total share capital…

IT Services
M&AAcquisition · Announced

Hdfc mutual fund acquires Vishal mega mart

The Government of Singapore and HDFC Mutual Fund acquired promoter stakes worth Rs 1,485 crore and Rs 1,100 crore, respectively, in Vishal Mega Mart through separate bulk deals on Friday.

Fashion-led hypermarket chain
M&AAcquisition · Completed

Ppfas mutual fund acquires Embassy office parks reit

The mutual fund acquired 5,63,05,901 additional shares on February 24, 2026, marking a notable expansion of its position in India's leading office REIT.

Office REIT
ContractSupply

Canara robeco · client: Central bank of india

Central Bank of India has entered into a distribution agreement with Canara Robeco AMC Limited to offer its mutual fund products to customers

Financial Services
M&AAcquisition · Completed

Invesco mutual fund acquires Global health

The disclosure, dated February 23, 2026, indicates that Invesco's aggregate holding reached 5.0273% of Global Health Limited's paid-up share capital as of the close of business hours on…

Healthcare
M&AAcquisition · Completed

Tata mutual fund acquires Ather energy

Tata Mutual Fund, Aditya Birla Sun Life MF and ICICI Prudential MF picked up shares worth Rs 50 crore, Rs 50 crore and Rs 40 crore, respectively

Electric two-wheeler maker
LaunchPascal AI’s platform

Kotak Mahindra Asset Management Company

Kotak Mahindra Asset Management Company has rolled out an agentic, context-driven AI research platform from Pascal AI to enhance and scale its institutional investment research operations,

AI research platform
M&AAcquisition · Announced

Ashika group acquires Mahaveera Capital Advisors LLP

Ashika Group, a diversified financial services group with a strong presence across capital markets and advisory services, has announced the amalgamation of the Equity Capital Markets…

Capital Markets
LaunchVAANI

Uti mutual fund

UTI Mutual Fund has launched VAANI, a voice-first, human-like AI agent designed to transform contact centre operations and enhance investor experience.

Voice AI Agent
Contract

Alpha capital · client: Jada fund of funds

KSA’s Jada Fund of Funds Signs Agreement with Alpha Capital to Invest in Food & Beverage SMEs Growth-stage SMEs in the food and beverage sector are the target of a new agreement signed…

Food & beverage
M&AAcquisition · Announced

Sbi mutual fund acquires United breweries

SBI Mutual Fund has risen its stake in United Breweries to over 5% by acquiring an extra 60,683 shares on February 1, 2026.

M&AAcquisition · Announced

Mizuho Securities acquires Avendus

Mizuho Securities took a majority stake in Avendus

M&AAcquisition · Announced

Edelweiss asset management acquires PGIM India Asset Management

Groww Asset Management, backed by State Street Investment Management, and Edelweiss Asset Management have each submitted bids for PGIM India Asset Management, the unnamed sources said.

Asset Management

Asset management companies in Mumbai, by revenue

Browse asset management companies in Mumbai by reported revenue, one-year revenue growth, revenue model, age and stage. The 50 companies below are the largest by their most recent reported revenue among 203 asset management companies in Mumbai, Maharashtra that have filed a figure in the last four years. Every figure keeps its own reporting period, so compare periods before comparing amounts.

Showing 25 of 50

Provider of loans, investments, insurance, UPI, and bill payment services

Consumer and sme loans
₹40,723.75 crFY 2024-25
+18%2024–2025
32,090-96% 12 mo to Aug 2024LinkedIn · Jul 2026
19 yr2007
0none in 3 months

Provider of wealth management services

Asset management
₹7,130.52 crFY 2023-24
Not reported
7,917+24% 12 mo to Sep 2024recorded Sep 2024
19 yr2007
0none in 3 months

Provider of consumer, housing, and business loans

Consumer and sme loans
₹6,712.40 crFY 2023-24
+0%2023–2024
13,839+158% 12 mo to Aug 2024LinkedIn · Jul 2026
42 yr1984
1postings · last posted Jul 2026

Diversified of investment management firm

Asset management
₹5,051.10 crFY 2023-24
Not reported
5,653+20% 12 mo to Apr 2024recorded Apr 2024
31 yr1995
6postings · last posted Aug 2026

Provider of financial services across equity, debt, and structured products

Asset management
₹4,612.22 crFY 2024-25
+77%2024–2025
139LinkedIn · Jul 2026
44 yr1982
0none in 3 months

Provider of mutual fund investments, retirement planning, and wealth creation services

Asset management
₹4,236.15 crFY 2024-25
Not reported
1,532+9% 12 mo to Aug 2024recorded Aug 2024
39 yr1987
0none in 3 months · last posted Feb 2025

Investment bank firm focused on multiple sectors

Investment banks
₹3,343.07 crFY 2022-23
Not reported
4,012+10% 12 mo to Mar 2023LinkedIn · Jul 2026
53 yr1973
0none in 3 months

Provider of investment management services

Asset management
₹3,283.14 crFY 2024-25
+138%2024–2025
360LinkedIn · Jul 2026
21 yr2005
6postings · last posted Aug 2026

Provider of mutual fund services focused on investment management

Asset management
₹3,163.39 crFY 2023-24
+27%2023–2024
1,611+13% 12 mo to Sep 2024recorded Sep 2024
27 yr1999
0none in 3 months

Provider of algorithmic trading strategies and investment services

Asset management
₹2,063.55 crFY 2024-25
+49%2024–2025
461LinkedIn · Jul 2026
17 yr2009
0none in 3 months · last posted Jun 2026

Provider of asset management services for enterprises

Asset management
₹1,882.62 crFY 2024-25
+46%2024–2025
—Not available
9 yr2017
0none in 3 months

Online Mutual Fund Investment in India

Asset management
₹1,640.58 crFY 2023-24
Not reported
1+0% 12 mo to Oct 2023recorded Oct 2023
32 yr1994
—No postings tracked

Diversified investment management firm

Asset management
₹1,380.39 crFY 2023-24
Not reported
4+33% 12 mo to Sep 2024recorded Sep 2024
17 yr2009
—No postings tracked

Provider of wealth management services

Asset management
₹980.65 crFY 2024-25
+30%2024–2025
1,029+24% 12 mo to Sep 2024recorded Sep 2024
25 yr2001
4postings · last posted Sep 2026

Provider of asset management services

Asset management
₹786.54 crFY 2024-25
+35%2024–2025
—Not available
26 yr2000
0none in 3 months

Asset management company

Asset management
₹748.62 crFY 2024-25
+34%2024–2025
790+8% 12 mo to Aug 2024LinkedIn · Jul 2026
32 yr1994
157postings · last posted Sep 2026

Diversified investment management firm

Asset management
₹582.61 crFY 2024-25
+21%2024–2025
251LinkedIn · Jul 2026
21 yr2005
1postings · last posted Jul 2026

Provider of investment consultancy services

Asset management
₹578.57 crFY 2024-25
-2%2024–2025
34LinkedIn · Jul 2026
14 yr2012
0none in 3 months

Provider of PR consultancy, strategic communication, and IPO advisory services

Marketing services
₹567.18 crFY 2024-25
Not reported
1,447+0% 12 mo to Sep 2024recorded Sep 2024
29 yr1997
5postings · last posted Sep 2026

Private debt firm

Investment banks
₹556.91 crFY 2024-25
+57%2024–2025
40-17% 12 mo to Aug 2024recorded Aug 2024
10 yr2016
3postings · last posted Jul 2026

Corporate advisory firm and investment bank

Asset management
₹487.51 crFY 2023-24
Not reported
1,154LinkedIn · Jul 2026
26 yr2000
0none in 3 months

Provider of investment products

Asset management
₹424.66 crFY 2023-24
Not reported
118+34% 12 mo to Sep 2024LinkedIn · Jul 2026
8 yr2018
0none in 3 months · last posted Jun 2026

Provider of asset and wealth management software for businesses

Asset management
₹421.50 crFY 2024-25
+25%2024–2025
255+117% 12 mo to Jul 2024LinkedIn · Jul 2026
18 yr2008
1postings · last posted Aug 2026

Provider of mutual funding services

Asset management
₹396.12 crFY 2024-25
+192%2024–2025
63-11% 12 mo to Sep 2024LinkedIn · Jul 2026
18 yr2008
0none in 3 months

Provider of trading, brokerage, and quants research services

Brokers and dealers
₹376.85 crFY 2024-25
+0%2024–2025
160+78% 12 mo to Sep 2024recorded Sep 2024
37 yr1989
0none in 3 months
50 of 604 companies shown here · the full list is on Radar
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Explore asset management companies in Mumbai by what you are looking for

Browse the top asset management companies in Mumbai, from mutual fund houses to portfolio managers and wealth advisors. Find asset management firms in Mumbai by type, plus asset management startups and companies that are hiring.

8 ways to explore asset management in Mumbai

Mutual fund & asset management companiesWealth management & portfolio management firmsInvestment banks & brokerage firmsPrivate equity, venture capital & alternative fundsFinancial advisory & consulting firmsAsset management startups in Mumbai

Mutual fund & asset management companies

Fund houses and asset management companies running mutual funds and investment schemes.

  1. SBI Mutual Fund

    Provider of mutual fund investments, retirement planning, and wealth creation services

    Asset management
    See in list
  2. HDFC Mutual Fund

    Provider of mutual fund services focused on investment management

    Asset management
    See in list
  3. ICICI Prudential Asset Management Company

    Real estate fund focused on multiple strategies

    Asset management
    Website
  4. InCred Group

    Provider of asset management services for enterprises

    Asset management
    See in list
  5. East Asian Anthropological Association

    Provider of asset management services

    Asset management
    See in list

Wealth management & portfolio management firms

Wealth managers, portfolio managers and financial advisors serving individuals and family offices.

  1. Carnelian

    Provider of investment management services

    Asset management
    See in list
  2. LGT Wealth India

    Provider of multi family offices investments services

    Asset management
    See in list
  3. Marcellus Investment Managers

    Provider of portfolio management and investment advisory services

    Asset management
    See in list
  4. Neo Wealth Management

    Provider of wealth management and financial advisory services

    Asset management
    See in list
  5. Vistra ITCL

    Provider of investment banking firm

    Asset management
    Website

Investment banks & brokerage firms

Investment banking, broking and securities firms for institutions and investors.

  1. Vikabh Securities

    Provider of trading, brokerage, and quants research services

    Brokers and dealers
    See in list
  2. Emkay

    Provider of investment management, institutional equity, and investment banking services

    Investment banks
    See in list
  3. Choice

    Full-service investment banking firm

    Brokers and dealers
    See in list
  4. Shreni Shares

    Broker-based online trading and investment platform

    Asset management
    Website
  5. Money Honey Financial Services

    Provider of financial distribution services for mutual funds and bonds

    Asset management
    Website

Private equity, venture capital & alternative funds

Private equity, venture capital and alternative investment funds investing in growing companies.

  1. Mirae Asset

    Diversified investment management firm and private equity investment fund

    Asset management
    Website
  2. Omidyar Network India

    Venture capital firm investing in digital society, education, employability, and multiple sectors

    Venture capital funds
    See in list
  3. Florintree

    Privat equity firm

    Private equity funds
    Website
  4. Multi-Act

    Venture capital firm focused on investment and research services

    Investment research services
    Website
  5. Nereus Capital

    Infrastructure funds focused on the energy sector

    Infrastructure funds
    Website

Financial advisory & consulting firms

Corporate finance, management consulting and accounting advisors for businesses.

  1. The Digital Fifth

    Provider of diversified management consulting services for investment industry

    Asset management
    Website
  2. JMP Advisors

    Provider of investment advisory and tax related services

    Finance & accounting services
    Website
  3. WhiteBoard Financial Advisors and Management

    Provider of corporate finance, restructuring, and strategic advisory services

    Asset management
    Website
  4. MainStream Technologies

    Provider of business consulting and financial advisory services

    Services for investment industry
    Website
  5. Prakrat Advisors

    Provider of financial and management consultancy services to businesses

    Grc services
    Website

Asset management startups in Mumbai

Newer asset management and investment firms founded in recent years.

  1. Edelweiss

    Alternative platform for impact investments

    Asset management
    See in list
  2. Goodflow Securities

    A securities firm that provides market trading services

    Asset management
    See in list
  3. LGT Wealth India

    Provider of multi family offices investments services

    Asset management
    See in list
  4. 3P Investment Managers

    Provider of investment management services

    Asset management
    See in list
  5. Neo Wealth Management

    Provider of wealth management and financial advisory services

    Asset management
    See in list
89 companies in Mumbai

Asset management companies hiring in Mumbai

Asset management firms with open roles right now.

  1. Piramal Capital & Housing Finance

    Provider of consumer, housing, and business loans

    Consumer and sme loans
    See in list
  2. ICICI Securities

    Diversified of investment management firm

    Asset management
    See in list
  3. SBI Mutual Fund

    Provider of mutual fund investments, retirement planning, and wealth creation services

    Asset management
    See in list
  4. Abans Finserv

    Provider of investment management services

    Asset management
    See in list
  5. AlphaGrep

    Provider of algorithmic trading strategies and investment services

    Asset management
    See in list
25 companies in Mumbai

Listed asset management companies in Mumbai

Publicly listed asset management and financial services companies.

  1. Aditya Birla Capital

    Provider of loans, investments, insurance, UPI, and bill payment services

    Consumer and sme loans
    See in list
  2. ICICI Securities

    Diversified of investment management firm

    Asset management
    See in list
  3. Authum

    Provider of financial services across equity, debt, and structured products

    Asset management
    See in list
  4. JM Financial

    Investment bank firm focused on multiple sectors

    Investment banks
    See in list
  5. Abans Finserv

    Provider of investment management services

    Asset management
    See in list
29 companies in Mumbai
Mobile reach

Top 10 asset management apps from Mumbai

The most-installed Android apps published by asset management companies headquartered in Mumbai — 28.3M installs between them. 87 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 10
1

SBI Mutual Fund - InvesTap Nxt

by SBI Mutual Fund

Installs7.3M
Rating4.57207K ratings
Installs, year on year+26%
Last updatedMay 2026
View on Google Play ↗
SBI Mutual Fund - InvesTap Nxt screenshot 1SBI Mutual Fund - InvesTap Nxt screenshot 2SBI Mutual Fund - InvesTap Nxt screenshot 3SBI Mutual Fund - InvesTap Nxt screenshot 4
2

Axis Mutual Fund Invest Online

by Axis Mutual Fund

Installs5.5M
Rating4.8278K ratings
Installs, year on year+18%
Last updatedFeb 2026
View on Google Play ↗
Axis Mutual Fund Invest Online screenshot 1Axis Mutual Fund Invest Online screenshot 2Axis Mutual Fund Invest Online screenshot 3Axis Mutual Fund Invest Online screenshot 4Axis Mutual Fund Invest Online screenshot 5
4

Choice FinX: Demat Account App

by Choice

Installs2.7M
Rating3.7422K ratings
Installs, year on year+32%
Last updatedJun 2026
View on Google Play ↗
Choice FinX: Demat Account App screenshot 1Choice FinX: Demat Account App screenshot 2Choice FinX: Demat Account App screenshot 3Choice FinX: Demat Account App screenshot 4Choice FinX: Demat Account App screenshot 5Choice FinX: Demat Account App screenshot 6
6

HDFC Mutual Fund

by HDFC Mutual Fund

Installs1.9M
Rating4.3725K ratings
Installs, year on year+36%
Last updatedApr 2026
View on Google Play ↗
HDFC Mutual Fund screenshot 1HDFC Mutual Fund screenshot 2HDFC Mutual Fund screenshot 3HDFC Mutual Fund screenshot 4HDFC Mutual Fund screenshot 5HDFC Mutual Fund screenshot 6
7

UTI Mutual Fund Invest Online

by UTI Mutual Fund

Installs1.5M
Rating3.8817K ratings
Last updatedMay 2026
View on Google Play ↗
UTI Mutual Fund Invest Online screenshot 1UTI Mutual Fund Invest Online screenshot 2UTI Mutual Fund Invest Online screenshot 3UTI Mutual Fund Invest Online screenshot 4UTI Mutual Fund Invest Online screenshot 5UTI Mutual Fund Invest Online screenshot 6
9

Tata Mutual Fund - SIP & Track

by Tata Mutual Fund

Installs1.0M
Rating—
Installs, year on year+500%
Last updatedJun 2026
View on Google Play ↗
Tata Mutual Fund - SIP & Track screenshot 1Tata Mutual Fund - SIP & Track screenshot 2Tata Mutual Fund - SIP & Track screenshot 3Tata Mutual Fund - SIP & Track screenshot 4Tata Mutual Fund - SIP & Track screenshot 5Tata Mutual Fund - SIP & Track screenshot 6
10

AR Trade Mobi: Demat & Stocks

by Anand Rathi Group

Installs959K
Rating3.29K ratings
Installs, year on year+46%
Last updatedMay 2026
View on Google Play ↗
AR Trade Mobi: Demat & Stocks screenshot 1AR Trade Mobi: Demat & Stocks screenshot 2AR Trade Mobi: Demat & Stocks screenshot 3AR Trade Mobi: Demat & Stocks screenshot 4AR Trade Mobi: Demat & Stocks screenshot 5AR Trade Mobi: Demat & Stocks screenshot 6
The business behind the activity

Asset management financials in Mumbai

Revenue, profit and growth from the filed annual accounts of 192 asset management companies in Mumbai, Maharashtra for FY24-25 — 245 of the 604 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 57% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹21,673.30 cr

192 companies filing accounts

combined net profit₹9,203.58 cr

42.5% aggregate margin

are profitable74%

142 of 192 companies

median revenue~₹9.9 cr

the typical company

median revenue growth+26%

into FY24-25

earned by the top five57%

revenue concentration

Six-year view

Combined revenue of filing companies

₹12,322.25 crFY19-20163 filers
₹16,881.81 crFY20-21176 filers
₹12,353.58 crFY21-22182 filers
₹12,146.80 crFY22-23197 filers
₹18,378.26 crFY23-24205 filers
₹21,673.30 crFY24-25192 filers

The number of companies filing changes each year; the three-year cohort below compares like with like.

Like-for-like

The same 169 companies over three years

+90%
FY22-23₹11,082.62 cr₹4,143.35 cr net
FY23-24₹16,838.97 cr₹7,654.04 cr net
FY24-25₹21,098.94 cr₹9,237.67 cr net

Companies with accounts for all three years, so growth is not an artefact of who filed.

Scale and profit

Bigger companies are far more often profitable

Under ₹1 cr4245% profitable
₹1–10 cr5467% profitable
₹10–100 cr6689% profitable
₹100–1,000 cr2793% profitable
Over ₹1,000 cr3100% profitable

Companies by FY24-25 revenue. Bars show how many companies sit in each band.

Momentum

How fast revenue moved into FY24-25

Shrinking44
0–20%32
20–50%53
50–100%26
Doubled+27

182 companies with accounts for both years; median growth +26%.

Profitability

Profit is concentrated at the top

142profitable
50loss-making
42.5%aggregate margin
13.7%median margin

The aggregate margin is pulled up by a few large filers; the median shows the typical company.

Growth leaders · ₹10 cr+ revenue

Fastest growing, FY24-25

CompanyGrowthRevenue
Fort CapitalFORT CAPITAL INVESTMENT ADVISORY PRIVATE LIMITED+564%
FlorintreeFLORINTREE ADVISORS PRIVATE LIMITED
Parag Parikh Financial Advisory ServicesPARAG PARIKH FINANCIAL ADVISORY SERVICES LIMITED+233%₹45.63 cr
CarnelianCARNELIAN ASSET MANAGEMENT & ADVISORS PRIVATE LIMITED
QuantQUANT MONEY MANAGERS LIMITED+192%₹396.12 cr
Marathon TrendsMARATHON TRENDS ADVISORY PRIVATE LIMITED+165%₹19.77 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
Parag Parikh Financial Advisory ServicesPARAG PARIKH FINANCIAL ADVISORY SERVICES LIMITED75.1%₹45.63 cr
AequitasAEQUITAS INVESTMENT CONSULTANCY PRIVATE LIMITED71.6%₹491.96 cr
NeoMile CapitalNeomile Corporate Advisory Limited
QuantQUANT MONEY MANAGERS LIMITED67.3%₹396.12 cr
BrainPoint Investment CentreBRAIN POINT INVESTMENT CENTRE PRIVATE LIMITED
RRC FinancialsR R CHOKHANI STOCK BROKERS PRIVATE LIMITED61.6%
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Asset management155₹19,148.76 cr~₹9.9 cr75%45.1%
Investment banks7₹562.60 cr~₹13.0 cr57%10.0%
Services for investment industry8₹216.85 cr~₹11.3 cr62%-1.6%
Management consulting services5₹29.88 cr~₹48 lakh60%13.3%
Leaders

Largest asset management companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
ICICI Prudential Asset Management CompanyICICI PRUDENTIAL ASSET MANAGEMENT COMPANY LIMITED+32%
SBI Mutual FundSbi Funds Management Limited₹4,232.17 cr₹2,531.46 cr59.8%+24%
Motilal Oswal Asset Management CompanyMOTILAL OSWAL ASSET MANAGEMENT COMPANY LIMITED₹1,376.91 cr₹656.30 cr
Anand Rathi WealthANAND RATHI WEALTH LIMITED₹943.38 cr₹295.42 cr31.3%+31%
Tata Mutual FundTATA ASSET MANAGEMENT PRIVATE LIMITED₹713.92 cr₹293.56 cr41.1%+32%
East Asian Anthropological AssociationEAAA INDIA ALTERNATIVES LIMITED₹653.27 cr₹186.20 cr28.5%+60%
Adfactors PRADFACTORS PR PRIVATE LIMITED₹548.17 cr₹107.29 cr19.6%+15%
AequitasAEQUITAS INVESTMENT CONSULTANCY PRIVATE LIMITED₹491.96 cr₹352.33 cr71.6%+1%
360 One360 ONE ASSET MANAGEMENT LIMITED₹421.50 cr₹147.02 cr34.9%+25%
Canara RobecoCANARA ROBECO ASSET MANAGEMENT COMPANY LIMITED₹404.00 cr47.2%
Some figures are available to Radar members.Log in to Radar to see every figure

Standalone annual accounts filed with the Ministry of Corporate Affairs. Brands that share one legal entity are shown together and counted once.

Industry landscape report

AdTech Industry Landscape of Mumbai

The financials above are one chapter. The full asset management landscape of Mumbai maps the whole industry — every segment, the capital behind it, the talent market and where the next opportunities are.

  • Market map of every sub-sector
  • Funding & company formation by year
  • Revenue, profit & financial strength
  • Digital footprint: traffic, apps, releases
  • Hiring, skills & pay
  • Founders & leaders
  • News & sentiment
  • Where demand runs ahead of supply
Read the asset management landscape of Mumbai
For investors and data teams

Put this intelligence into your own tools

The figures on this page come from Fliar’s company, funding and MCA filings data. Use it through the Investor Intelligence API and MCA financials feeds, or explore every company, filing and investor in Radar.

Capital & corporate activity

Asset management funding and M&A across India

97 recorded equity rounds have gone to 2,132 asset management companies in India — how much, at which stage, into which sub-sectors, from whom, and how Mumbai compares. Debt, IPO and grant rounds are excluded.

equity rounds, last 12 months3

US$78.65m

equity rounds, last 24 months13

US$210.14m

raised over five yearsUS$510.83m

52 rounds in India

M&A deals, Mumbai127

last 24 months

Capital by year

Equity funding into asset management in India

amount rounds
$57m201810
$52m201911
$18m20205
$53m202113
$26m20227
$111m20237
$110m202412
$156m202512
$54m20261

Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2025, with US$156.48m across 12 rounds.

The funding ladder · five years

Rounds and typical cheque by stage

AngelUS$13.52m9 rounds · median US$1.45m
SeedUS$28.10m17 rounds · median US$1.56m
Series AUS$126.32m12 rounds · median US$7.83m
Series BUS$289.23m13 rounds · median US$19.00m
Private equityUS$53.65m1 rounds · median US$53.65m
Where the money went · five years

Most-funded sub-sectors

Asset managementUS$504.18m47 rounds · 22 companies
K-12 edtechUS$3.50m1 rounds · 1 companies
Investment consultantsUS$3.00m1 rounds · 1 companies
Investment techUS$149k3 rounds · 1 companies
Corporate activity · last 24 months

M&A in Mumbai

113Acquisition
9Merger
3Undisclosed

Most active acquirers

  1. Sbi mutual fund17
  2. Authum investment & infrastructure12
  3. Nippon india mutual fund7
  4. Hdfc mutual fund7
  5. 360 one6

Most acquired or merged

  1. Reliance capital7
  2. Avendus5
  3. Asian paints3
  4. 360 one3
  5. Prataap Snacks2

Each deal appears in the events strip at the top of the page.

Asset management funding in Mumbai

17 asset management companies in Mumbai have recorded equity funding, US$608.13m in total. Totals and round dates describe the historical record; they are not current valuations.

Founders and momentum in Mumbai

Meet the people behind asset management companies in Mumbai. 268 of 604 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore Mumbai asset management companies by sub-sector

The most common specialisations among asset management companies in Mumbai. Open a company to see what it sells, who runs it and how far it has come.

Keep exploring asset management in India and nearby markets.

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