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Radar · Brokers and Dealers in Maharashtra

Best Brokers and Dealers Companies in Maharashtra, India

The 113 best Brokers and Dealers companies in Maharashtra, India in 2026, ranked by funding and momentum. Funding, investors, founders, valuation, tech stack and live signals. Top: Aditya Birla Capital.

113companies tracked
$880.9Mdisclosed funding
0unicorns
3have raised

Ranked: Best Brokers and Dealers companies in Maharashtra

#CompanyRevenueDisclosed fundingEmployeesFounderTech stackWeb popularityRecent signals
1Aditya Birla Capital
Provider of loans, investments, insurance, UPI, and bill payment services
92Innovation top 8%Tech top 9%Funding top 11%Market top 17%
All 12 signals ▾
Innovationtop 8%
Techtop 9%
Fundingtop 11%
Markettop 17%
Producttop 26%
Moattop 26%
Newstop 29%
Customerstop 30%
Fin. healthtop 31%
Talenttop 42%
Growthbottom 49%
Globalbottom 39%
Innovation: 18 new-product events in 24 mo
Tech: 100 technologies across 7/8 capability areas · Cloud: Amazon Alb, Amazon Cloudfront
rank vs industry peers · Fliar Intelligence Index 92/100
$4.8B
FY2025
$839M789Vishakha Mulye
CEO
SitecoreTypeScriptGraphQL+30Top 50k—
2ICICI Direct
Online stock trading platform
$610M
FY2024
—5,924—Cart FunctionalityNode.jsBootstrap+29Top 5k—
3JM Financial
Provider of investment banking, wealth management, and institutional equities services
$584M
FY2024
—160Arunava Das
Managing Director & CEO
Windows ServerMicrosoft ASP.NETBootstrap+8Top 1M—
4HDFC securities
Online trading and investment platform
$386M
FY2025
—3,645Dhiraj Relli
CEO & Managing Director
Node.jsBootstrapMUI+20Top 100k—
5India Infoline
Traditional Broker for trading in stocks, mutual fund, and commodities
$304M
FY2025
——Sougata Roy
CEO
HighchartsMUIAnimate.css+25Top 500k—
6Anand Rathi
Online trading platform for multiple assets
$217M
FY2025
—1,241Anand Rathi
Co-Founder & Chairman
Brizy CloudChart.jsMicrosoft ASP.NET+25Top 500k—
7Motilal Oswal Financial Services
Provider of brokerage services for equity stocks and financial instruments
$58M
FY2025
$28M7,927Raamdeo Agrawal
Co-Founder
TypeScriptCKEditorD3+19Top 100k—
8A.K. Group
Investment banking and SME financing services
$57M
FY2025
—112Atul Mittal
CEO & Managing Director
ZohoWindows ServerBootstrap+8Top 5M—
9Emkay
Provider of investment management, institutional equity, and investment banking services
$43M
FY2025
—375
375 → 851 (+127%)
Rahul Rege
Co-CEO
Microsoft ASP.NETEnvoyBootstrap+16Top 5M—
10PL Capital
Provider of stock brokerage services
$43M
FY2025
$13M350Dhiren Sheth
Managing Director
Cart FunctionalityWordPressMySQL+25Top 1M1 job opening
11Alacrity Securities
Stock brokerage firm
$41M
FY2024
—11—BootstrapSlider RevolutionFlexSlider+5Top 50M—
12Arihant Capital
Chains providing financial services and investment solutions
$29M
FY2025
—292Ashok Jain
Founder & Managing Director & Chairman
Facebook LoginMicrosoft ASP.NETBootstrap+21Top 5M—
13Globe Commercials
Stock brokerage firm
$24M
FY2025
——Prasad Bagwe
Managing Director
Google MapsBootstrapNginx+2Top 50M—
14Crosseas Capital Services
Provider of stock brokerage services
$18M
FY2023
—47—PleskWindows ServerMicrosoft ASP.NET+3Top 50M—
15IDBI Capital Markets & Securities Ltd
Provider of investment banking, equity research, institutional and retail broking, and distribution services…
$17M
FY2025
—374Kamal Upadhyay
MD & CEO
Microsoft ASP.NETBootstrapCloudflare+9Top 500k1 launch
16Dalal & Broacha
Investment management firm
$15M
FY2025
——Priyakant Dalal
Founder
BootstrapLiteSpeedGoogle Font API+5Top 10M—
17Bluechip
Retail financial products distributor
$14M
FY2025
—462Kannan Jagadeswaran
Founder
PythonDjangoBootstrap+10Top 1M—
18Choice
Full-service investment banking firm
$11M
FY2025
—3,033Arun Poddar
CEO & Executive Director
ElasticsearchTypeScriptZoho+27Top 500k—
193A Financial Services
Provider of investment management services
$9M
FY2025
——Rajan Shah
Founder & Owner
—Top 50M—
20Inventure Growth
Provider of mutual funds, IPOs, currencies, stocks, and commodities trading services
$7M
FY2025
—91
91 → 172 (+89%)
Kanji Rita
CEO & MD
Windows ServerBootstrapIIS+17Top 5M—
21Dhanki Securities
Provider of equity broking, mutual fund, and IPO services
$6M
FY2025
——————
22GEPL Capital
Full-service stockbroker offering online trading and investment services
$6M
FY2025
—2—PHPAnimate.cssBootstrap+24Top 5M—
23Comfort Commotrade
Provider of commodity brokerage services
$4M
FY2025
—4Anil Agrawal
Founder
Node.jsWindows ServerReact+8Top 50M—
24Derivium
Provider of broker & dealer services
$4M
FY2025
——Ashish Ghiya
Managing Director
———
25Comfortsecurities
Provider of stock broking, investment banking, and mutual fund services
$3M
FY2025
—10Anil Agrawal
Founder
Node.jsWindows ServerYouTube+18Top 10M1 job opening
26Glance Finance
Provider of business loans and asset financing solutions
$3M
FY2025
—9Jonathan Collins
CEO
———
27Badjate Group
Investment management firm
$2M
FY2025
$2M—Shantilal Badjate
ex-Founder
Windows ServeramChartsBootstrap+7Top 10M—
28FRR Shares
Financial services corporation offering foreign exchange money changing, stock broking, and interbank foreign…
$2M
FY2025
——Deepa Khimasia
CFO
Microsoft ASP.NETBootstrapOWL Carousel+5Top 50M—
29Bombay Oxygen Investments
Manufacturer of industrial gases
$2M
FY2019
—8—PHPBootstrapApache HTTP Server+11Top 50M—
30Sharekhan
Multi-asset trading platform
$2M
FY2025
—43—HighchartsAngular MaterialMicrosoft ASP.NET+21Top 50k—
31Action Financial Services
Full service stock broker
$659K
FY2019
—32Milan Parekh
Founder & MD
———
32Focus Comtrade
Focus_About Us
$406K
FY2022
——————

Top 8 Brokers and Dealers companies in Maharashtra

#1
Public · Mumbai, Maharashtra · founded 2007 · 789 employees
$838.6Mraised
▾

Provider of loans, investments, insurance, UPI, and bill payment services. They offer housing, personal, SME, business, gold, and property loans. Investment options include mutual funds, stocks, securities, and fixed deposits. Insurance offerings cover life, health, motor, pocket, and travel needs. The company also provides UPI and bill payment solutions.

Fliar Intelligence Index™ 92how this company ranks against its industry peers
Innovation
top 8%
Tech
top 9%
Funding
top 11%
Market
top 17%
Product
top 26%
Moat
top 26%
Innovation: 18 new-product events in 24 mo
Tech: 100 technologies across 7/8 capability areas · Cloud: Amazon Alb, Amazon Cloudfront · Devops: Envoy, Nginx
Funding: Raised $839M across 5 rounds · 5 rounds over 7 yrs (0.7/yr) · Last round Post IPO (Aug 2025)
Audience (LinkedIn): 745k LinkedIn followers — 62.0% of this cohort's audience
Funding rounds
  • Aug 2025Post IPO—
  • Jan 2025Conventional Debt$95.9M
  • Jun 2023Post IPO$366M
  • Aug 2022Post IPO$83.1M
Founders & team
Vishakha MulyeCEO
Investors
BlackRock, Capital Group, Norges Bank, RBC Royal Bank, M&G, ADIA
Tech stack
Amazon AlbAmazon CloudfrontAmazon S3Amazon Web ServicesAmchartsAngular
#2
Acquired · Mumbai, Maharashtra · founded 1944 · 350 employees
$12.6Mraised
▾

Provider of stock brokerage services. It offers a range of services including investment banking, retail and institutional broking, equity, F&O, portfolio restructuring, wealth management, and NRI. It also provides mutual fund & IPO distribution, real estate services, research & advisory, home loan, and third party portfolio management services.

LinkedIn Pulse recent public activity · Jul 2026
Audience: 37k LinkedIn followers — 3.1% of this cohort's audience
Hiring: 1 hiring post in 12 mo (public) · hiring: Relationship Manager
Founders & team
Arun ShethOwnerDara KalyaniwalaExecutive DirectorDhiren ShethManaging Director
Investors
Thefirstcustodianfund, 3A Financial Services, Kurlon, Flexpro, Nawanagar Neovest, Livealth Biopharma
Tech stack
Application Request RoutingBootstrapCart FunctionalityCdnjsCloudflareCloudflare Bot Management
#3
Public · Mumbai, Maharashtra · founded 1987 · 7927 employees
$27.6Mraised
▾

Provider of brokerage services for equity stocks and financial instruments. This entity facilitates trading in stocks, derivatives, commodities, and bonds. It offers access to mutual funds, fixed deposits, and portfolio management services. It also offers financial services.

Founders & team
Raamdeo AgrawalCo-FounderMotilal OswalCo-Founder & CEO & MDRaamdeo AgrawalCo-Founder
Investors
Bessemer Venture Partners, New Vernon Wealth Management
Tech stack
Amazon CloudfrontAmazon S3Amazon Web ServicesAngularApache Http ServerApexcharts.Js
#4
Seed · Nagpur, Maharashtra · founded 2008
$2.1Mraised
▾

Investment management firm

LinkedIn Pulse recent public activity · Jul 2026
Audience: 2k LinkedIn followers
Funding rounds
  • Mar 2008Seed$2.1M
Founders & team
Anuj BadjateManaging Director & CEOShantilal Badjateex-Founder
Investors
Marigoldvanijya, radixdealcom, Trimudravyapaar, Gangourtraders, Indigodealers, Loknathmerchants
Tech stack
AmchartsBootstrapGoogle AnalyticsIisJqueryMicrosoft Asp.Net
#5
Public · Mumbai, Maharashtra · founded 1973 · 160 employees
—raised
▾

Provider of investment banking, wealth management, and institutional equities services. The company offers corporate advisory and capital markets services, including public issue management. It provides wealth management and portfolio management services, along with asset management solutions. The firm also offers affordable home loans and institutional equities services.

LinkedIn Pulse recent public activity · Jul 2026
Audience: 106k LinkedIn followers — 8.8% of this cohort's audience
Founders & team
Jaisinh SuchakManaging DirectorRajiv AgrawalManaging DirectorAnshuman DasManaging Director & CTO
Investors
Elevation Capital, SeaLink Capital Partners
Tech stack
BootstrapBootstrap IconsFont AwesomeGodaddyGoogle AnalyticsHsts
#6
Deadpooled · Mumbai, Maharashtra · founded 1995 · 6 employees
—raised
▾

Provider of Mandarin, Min Nan, and Hakka language radio programming. It broadcasts local news and cultural content, aiming to serve the diverse community through various communication channels including online streaming and a mobile app. The programming includes daily news updates, local interest features, and a mix of traditional and contemporary music. The station also offers opportunities for community engagement and interaction.

Investors
Tamarind Partners, ABG Capital, Steadview, Inteligo Bank
#7
Public · Mumbai, Maharashtra · founded 1995
—raised
▾

Traditional Broker for trading in stocks, mutual fund, and commodities. The company offers a platform for investments in multiple assets. It also offers financial calculators and tools for market analysis.

Founders & team
Sougata RoyCEORajamani VenkataramanManaging DirectorMonu RatraCEO
Investors
Fairfax India Holdings, Milliways Ventures, Fairbridge Capital, The Carlyle Group
#8
Acquired · Mumbai, Maharashtra · founded 2000 · 43 employees
—raised
▾

Sharekhan Ltd is a trading platform for multiple assets. It allows users to buy, sell, and trade forex, stocks, mutual funds, and other assets through trading platforms. It offers trading facilities on BSE, NSE, MCX, NCDEX, and a variety of other platforms. It has ventured into trader education through its online training academy.

LinkedIn Pulse recent public activity · Jul 2026
Audience: 81k LinkedIn followers — 6.7% of this cohort's audience · 45 engagements/post (4.9× cohort median)
Funding rounds
  • Mar 2008Series B—
  • Apr 2006Series B—
  • 2000Series A—
Investors
BPEA, HSBC Private Bank, The Carlyle Group, Intel, General Atlantic, Exponentia Capital
Tech stack
AdjustAngularjsAnimate.CssAzureBabelBootstrap

Funding & investor landscape

$880.9Mtotal disclosed funding
4companies funded
6disclosed rounds
0rounds last 90 days
Most active investors
Livealth Biopharma2 rounds
The Carlyle Group2 rounds
3A Financial Services1 rounds
ABG Capital1 rounds
ADIA1 rounds
Aarii Ventures1 rounds
Advent International1 rounds
Analah Ventures1 rounds
B C K H Investment1 rounds
BPEA1 rounds

Notable founders

Vishakha Mulye
CEO · Aditya Birla Capital
Arun Sheth
Owner · PL Capital
Dara Kalyaniwala
Executive Director · PL Capital
Raamdeo Agrawal
Co-Founder · Motilal Oswal Financial Services
Motilal Oswal
Co-Founder & CEO & MD · Motilal Oswal Financial Services
Anuj Badjate
Managing Director & CEO · Badjate Group
Shantilal Badjate
ex-Founder · Badjate Group
Jaisinh Suchak
Managing Director · JM Financial
Rajiv Agrawal
Managing Director · JM Financial
Sougata Roy
CEO · India Infoline
Rajamani Venkataraman
Managing Director · India Infoline
Prism market signals · India · country-scoped Prism corpus, 6,432,987 docs

Market landscape — 10 sub-themes by coverage

Share of Brokers and Dealers coverage by sub-theme.

Regulatory-risk over time rising

Funding & growth over time

funding rising · growth rising

Common questions

How many Brokers and Dealers companies are there in Maharashtra, India?
Radar tracks 113 indexable Brokers and Dealers companies headquartered in Maharashtra, India, India, that meet our profile-completeness bar.
What is the total funding raised by Brokers and Dealers companies in Maharashtra, India?
The Brokers and Dealers companies in Maharashtra, India on this list have raised a combined $880.9M in disclosed equity funding across 4 funded companies.
Which is the highest-funded Brokers and Dealers company in Maharashtra, India?
Aditya Birla Capital is the highest-funded Brokers and Dealers company in Maharashtra, India, with $838.6M in disclosed equity funding.
How many Brokers and Dealers companies in Maharashtra, India are funded?
4 of the 113 Brokers and Dealers companies in Maharashtra, India on this list have disclosed at least one equity funding round.
How many Brokers and Dealers unicorns are there in Maharashtra, India?
None of the Brokers and Dealers companies in Maharashtra, India on this list currently has a disclosed valuation of $1B or more.
Who are the top investors in Maharashtra, India Brokers and Dealers companies?
The most active investors in Maharashtra, India Brokers and Dealers companies on this list include Livealth Biopharma, The Carlyle Group, 3A Financial Services, ABG Capital, ADIA.
Riya SenguptaFinancials

Riya reads income statements for fun. She covers the real money in a sector — revenue, growth, who actually earns — and never met a vague claim she didn't want a number for.

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