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The Maharashtra edition · 2026

Investment industrycompanies in Maharashtra

Investment banks, alternative investments, venture capital, asset management, consultants & research and more: the companies building investment industry in Maharashtra, with their founders, funding, team size and business models.

Explore in Radar See the ranked list ↓
1,291 company profiles346 with reported revenue28 with recorded fundingSeptember 2026 edition
Maharashtra · Photo: Wikimedia Commons (Creative Commons Attribution-ShareAlike 4.0)

Recent investment industry business events in Maharashtra

Funding, M&A, contract wins and launches involving 1,516 investment industry companies in Maharashtra, last 24 months: 95 M&A deals · 37 Contracts · 16 funding rounds · 11 launches. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: Jun 2026.

M&AAcquisition · Announced

True north acquires Cloudnine

True North looks to sell Cloudnine stake

Healthcare - fertility and maternity care
M&AAcquisition · Announced

True north acquires Embio

According to reports, True North invested about INR 478 crores to acquire a 25 percent stake in Embio.

Pharmaceuticals
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 · Announced

Jsw group acquires Mg motor india

JSW Group acquires an additional 10% stake in MG Motor India from SAIC.

Automotive
ContractSupply

New Consolidated Construction Company Limited (NCCCL) · client: Welspun one logistics parks

Among the key wins is the construction of India's first vertical warehouse project for Welspun One Logistics Parks at the JNPA Special Economic Zone in Navi Mumbai.

Infrastructure
ContractService

Welspun One · client: Balmer lawrie

Welspun One has entered into a letter of intent with Balmer Lawrie & Co. for 65,000 sq ft of grade A warehousing space at WTC Nhava Sheva, expected to be operational by early 2027.

Logistics/Warehousing
M&AAcquisition · Announced

Jsw group acquires JSW MG Motor India

China's SAIC Motor is selling another 10% stake in JSW MG Motor India to the JSW Group. With this, JSW will become the biggest shareholder in the company.

Automotive
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
M&AAcquisition · Announced

FIH Mauritius Investments Ltd acquires Iifl capital

FIH Mauritius Investments Ltd, a wholly owned subsidiary of Fairfax India Holdings Corporation, has acquired an additional equity interest in IIFL Capital Services Limited for…

ContractSupply

Welspun One · client: Indev Infra

Warehousing and industrial real estate platform Welspun One on Tuesday said it has leased 2.10 lakh sq ft of space at the JNPA special economic zone to Indev Infra for warehousing and…

Logistics/warehousing
ContractSupply

Texmaco rail & engineering · client: Jsw group

Texmaco Rail & Engineering Ltd on Tuesday announced that it has secured an order worth ₹357.11 crore from the JSW Group for the manufacture and supply of railway wagons and rakes.

Rail Freight
LaunchTata AIA Large Mid Cap Innovation Fund

Tata AIA Life Insurance

The newly launched funds include the Tata AIA Large Mid Cap Innovation Fund, Tata AIA Large Mid Cap Innovation Pension Fund, and Tata AIA Global AI & Technology Leaders Fund.

Fund
M&AAcquisition · Announced

Think9 acquires Whoppl

Mumbai: Think9, founded by Ashni Biyani and Avni Biyani along with brand evangelist Santosh Desai, has announced the acquisition of Whoppl, marking a strategic step in its ambition to…

LaunchReview Agent

Lighthouse

Lighthouse has launched Review Agent, a feature that brings Booking.com and Expedia reviews into one dashboard for hotels.

Review management dashboard
ContractService

SPAG FINN Partners · client: Somerset indus capital partners

Somerset Indus Capital Partners, a healthcare focused private equity firm, has appointed SPAG FINN Partners as its strategic communications partner.

Healthcare
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 · Announced

Tata mutual fund acquires Ather energy

Tata Mutual Fund picked up shares worth Rs 50 crore

Electric Vehicles
M&AAcquisition · Announced

Essar group acquires Warid telecom

Essar group has acquired 51% equity for about $160 million, in Dhabi Group’s Warid Telecom operations in Uganda and Congo, reports Times of India.

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
M&AAcquisition · Announced

Mizuho Securities acquires Avendus

Mizuho Securities took a majority stake in Avendus

M&AAcquisition · Completed

Mahi Madhusudan Kela acquires Emkay Global Financial Services

Indian investor Mahi Madhusudan Kela acquired a 1.12% stake in Emkay Global Financial Services during the quarter ended December 31, 2025.

Investment banking, wealth management and portfolio management services
M&AAcquisition · Completed

USK Capital acquires Go raw

Kotak Mahindra Bank founder Uday Kotak's family office USK Capital has acquired a majority stake in Go Raw, a Chicago-based seed-centric snack brand...

Consumer goods
M&AAcquisition · Rumored

Niif acquires Sprng energy

NEW DELHI: India’s National Investment and Infrastructure Fund (NIIF), KKR and Sembcorp are locked in a tight race to acquire renewable energy supplier Sprng Energy from oil major Shell Plc.

Renewable Energy
M&AAcquisition

LKP Finance acquires Gyftr (Vouchagram Private Limited)

LKP Finance Ltd., a listed financial services company, is reshaping its identity and business model as it acquires a strategic stake in digital gifting and rewards platform Gyftr…

Digital gifting and rewards platform
M&AAcquisition · Announced

Xponentia capital acquires ASEGO Global Assistance

People familiar with the matter said Xponentia has invested around ₹175 crore to acquire approximately a 25-30% stake in ASEGO through a mix of primary and secondary stock.

Travel Assistance
M&AAcquisition · Completed

Somerset indus capital partners acquires Nu hospitals

Lakshmikumaran & Sridharan Attorneys acted as legal advisor to NU Hospitals Private Limited, its promoters, and certain non-promoter selling shareholders in connection with a significant…

Healthcare
M&AAcquisition · Completed

Mizuho acquires Avendus

Mizuho’s majority acquisition of Avendus earlier this month.

M&AAcquisition · Announced

Motilal oswal alternates acquires Sensa core

4 months ago Motilal Oswal Alternates has acquired a significant minority stake in medical diagnostic equipment manufacturer Sensa Core for $72 million, the companies announced in a…

Medical diagnostics

Investment industry companies in Maharashtra, by revenue

Browse investment industry companies in Maharashtra 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 346 investment industry companies in 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

Private equity and real estate investment firm

Private equity funds
₹8,417.22 crFY 2024-25
+17%2024–2025
76LinkedIn · Jul 2026
20 yr2006
0none in 3 months

Single family office of Rakesh S Kathotia, Founder of Subhkam ventures

Single family offices
₹7,879.60 crFY 2024-25
+375%2024–2025
—Not available
28 yr1998
0none in 3 months

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

KBL Group backed venture capital fund

Venture capital funds
₹4,564.12 crFY 2024-25
+12%2024–2025
—Not available
17 yr2009
0none in 3 months

Provider of business consulting and staffing services

Management consulting services
₹4,478.27 crFY 2024-25
+21%2024–2025
27+38% 12 mo to Aug 2024LinkedIn · Jul 2026
8 yr2018
0none in 3 months · last posted Jun 2026

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 textiles, rubber chemicals and denim-based products

Single family offices
₹2,845.53 crFY 2024-25
+33%2024–2025
56LinkedIn · Jul 2026
16 yr2010
0none in 3 months

Provider of research, sales and trading services for its institutional clients

Investment research services
₹2,567.43 crFY 2024-25
+15%2024–2025
1,172+9% 12 mo to Sep 2024recorded Sep 2024
19 yr2007
0none in 3 months

Private equity firm and fund of funds focused on multiple sectors

Private equity funds
₹2,520.72 crFY 2024-25
+24%2024–2025
1,085+12% 12 mo to Sep 2024recorded Sep 2024
6 yr2020
1postings · last posted Aug 2026

Regional investment bank

Investment banks
₹2,238.66 crFY 2023-24
Not reported
29-57% 12 mo to Jun 2024recorded Jun 2024
29 yr1997
—No postings tracked

Corporate advisory firm specializing in structured finance, capital markets, and merchant banking services

Investment banks
₹1,573.38 crFY 2021-22
Not reported
235,858-3% 12 mo to Mar 2023recorded Mar 2023
40 yr1986
0none in 3 months

Investment firm partnering with enterprises managed by world-class leadership teams

Single family offices
₹1,297.71 crFY 2024-25
Not reported
42+33% 12 mo to Sep 2024LinkedIn · Jul 2026
20 yr2006
0none in 3 months · last posted Jul 2025

Financial services firm specializing in asset reconstruction

Private debt funds
₹1,068.51 crFY 2023-24
+7%2023–2024
190LinkedIn · Jul 2026
16 yr2010
0none in 3 months

Diversified business group with interests in diamonds, jewellery, real estate, and investments

Venture capital funds
₹981.24 crFY 2024-25
-21%2024–2025
143+17% 12 mo to Jul 2024LinkedIn · Jul 2026
38 yr1988
0none in 3 months

Private equity investment firm focused on buyouts

Private equity funds
₹788.17 crFY 2024-25
+173%2024–2025
85LinkedIn · Jul 2026
17 yr2009
0none in 3 months

Corporate advisory firm focused on multiple sectors

Investment banks
₹782.72 crFY 2024-25
+32%2024–2025
388+4% 12 mo to Sep 2024LinkedIn · Jul 2026
40 yr1986
0none in 3 months · last posted Jun 2026

Real estate investment management firm

Real estate funds
₹753.05 crFY 2024-25
+6%2024–2025
49-17% 12 mo to Sep 2024recorded Sep 2024
41 yr1985
8postings · last posted Sep 2026

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

India focused full service regional investment bank

Investment banks
₹657.16 crFY 2024-25
+47%2024–2025
318+16% 12 mo to Sep 2024LinkedIn · Jul 2026
35 yr1991
1postings · last posted Aug 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

Single family office of Sameer Koticha, founder & promoter of ASK Group

Single family offices
₹392.97 crFY 2021-22
Not reported
—Not available
28 yr1998
0none in 3 months

Private equity firm focused on multiple sectors

Private equity funds
₹385.95 crFY 2023-24
Not reported
28+9% 12 mo to Sep 2024LinkedIn · Jul 2026
89 yr1937
—No postings tracked

Corporate financial advisory fiirm focused on middle market companies

Investment banks
₹382.68 crFY 2024-25
+63%2024–2025
250-29% 12 mo to Aug 2024LinkedIn · Jul 2026
19 yr2007
0none in 3 months

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

Investment banks
₹361.24 crFY 2024-25
+15%2024–2025
851+5% 12 mo to Mar 2024LinkedIn · Jul 2026
31 yr1995
0none in 3 months

Provider of portfolio management and alternative investment fund services

Hedge funds
₹344.23 crFY 2024-25
Not reported
130-1% 12 mo to Jul 2024LinkedIn · Jul 2026
27 yr1999
0none in 3 months
50 of 1,291 companies shown here · the full list is on Radar
Fliar Radar

Explore all 1,291 investment industry companies in Maharashtra on Radar

This page shows the top 50. Radar has the complete, filterable list with contacts and live company signals.

Open investment industry in Maharashtra on Radar
  • Every company, not just 50All 1,291 investment industry companies in Maharashtra, filterable by stage, funding, team size, revenue model and age.
  • Founders and decision-makersLeadership teams with roles and verified LinkedIn profiles, ready for outreach.
  • Live signalsFunding rounds, hiring, launches and M&A as they happen, with alerts on the companies you follow.
  • Save and exportBuild lists, compare companies side by side and export them from your Radar account.

Explore investment industry companies in Maharashtra by what you are looking for

Browse the list of investment companies in Maharashtra, from investment banks and private equity funds to venture capital firms. Find alternative investment firms, investment consultants and investment industry startups in one place.

9 ways to explore investment industry in Maharashtra

Investment banks & advisory firmsAlternative investment fundsVenture capital firms & angel networksAsset & wealth management companiesInvestment consultants & research firmsStartup accelerators & incubators

Investment banks & advisory firms

Investment banking and corporate advisory firms handling capital raising and M&A.

  1. JM Financial

    Investment bank firm focused on multiple sectors

    Investment banks
    See in list
  2. Centrum

    Regional investment bank

    Investment banks
    See in list
  3. SBI Capital Markets

    Corporate advisory firm specializing in structured finance, capital markets, and merchant banking services

    Investment banks
    See in list
  4. InCred Capital

    Private debt firm

    Investment banks
    See in list
  5. Equirus Capital

    Corporate financial advisory fiirm focused on middle market companies

    Investment banks
    See in list
125 companies in MaharashtraAll 429 investment banks companies in Maharashtra →

Alternative investment funds

Private equity, real estate, infrastructure, hedge and private debt funds.

  1. Motilal Oswal

    Private equity and real estate investment firm

    Private equity funds
    See in list
  2. Nippon

    Private equity firm and fund of funds focused on multiple sectors

    Private equity funds
    See in list
  3. Tata Mutual Fund

    Asset management company

    Asset management
    See in list
  4. Alchemy Capital Management

    Provider of portfolio management and alternative investment fund services

    Hedge funds
    See in list
  5. Welspun One

    Provider of integrated fund and development management platform

    Infrastructure funds
    See in list
98 companies in MaharashtraAll 132 private equity funds companies in Maharashtra →

Venture capital firms & angel networks

Venture capital funds and angel investor networks backing startups.

  1. Kirloskar Brothers Investments

    KBL Group backed venture capital fund

    Venture capital funds
    See in list
  2. Tuscan Ventures

    Multi-stage tech and offline focused venture capital firm investing primarily in India

    Venture capital funds
    See in list
  3. Omidyar Network India

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

    Venture capital funds
    See in list
  4. Amin Finvest

    Investor in and mentor of entrepreneurial ventures

    Venture capital funds
    See in list
  5. Equentis Wealth Advisory Services

    Wealth advisory firm offering research-backed equity solutions, PMS, AIF, angel investing, and unlisted-market opportunities for investors

    Venture capital funds
    See in list
99 companies in MaharashtraAll 303 venture capital funds companies in Maharashtra →

Asset & wealth management companies

Asset managers, mutual funds and family offices managing investor money.

  1. Subhkam Ventures

    Single family office of Rakesh S Kathotia, Founder of Subhkam ventures

    Single family offices
    See in list
  2. Arvind Mafatlal Group

    Provider of textiles, rubber chemicals and denim-based products

    Single family offices
    See in list
  3. Nippon

    Private equity firm and fund of funds focused on multiple sectors

    Private equity funds
    See in list
  4. NSFO

    Investment firm partnering with enterprises managed by world-class leadership teams

    Single family offices
    See in list
  5. Tata Mutual Fund

    Asset management company

    Asset management
    See in list
96 companies in MaharashtraAll 436 asset management companies in Maharashtra →

Investment consultants & research firms

Advisers and research providers offering investment advice and equity research.

  1. IIFL Capital

    Provider of research, sales and trading services for its institutional clients

    Investment research services
    See in list
  2. Aranca

    Provider of investment research, analytics, and business advisory services

    Investment research services
    See in list
  3. Equentis Wealth Advisory Services

    Wealth advisory firm offering research-backed equity solutions, PMS, AIF, angel investing, and unlisted-market opportunities for investors

    Venture capital funds
    See in list
  4. Prachay

    Provider of financial services

    Investment consultants
    Website
  5. Jain Investment Advisors

    Provider of investment advisory services

    Investment consultants
    Website
118 companies in MaharashtraAll 140 investment consultants companies in India →

Startup accelerators & incubators

Programs that mentor and fund early-stage startups.

  1. IvyCap Ventures

    Venture capital and startup accelerator firm

    Venture capital funds
    Website
  2. Riidl

    Somaiya Vidyavihar and Department of Science & Technology, India backed startup incubator

    Accelerators & incubators
    Website
  3. JITO Incubation & Innovation Foundation

    Multiple sector sector focused incubator

    Accelerators & incubators
    Website
  4. Incubation Masters

    Incubator focused on pre-seed tech startups

    Accelerators & incubators
    Website
  5. ISME ACE

    Startup accelerator focused on Financial Services sector

    Accelerators & incubators
    Website
99 companies in Maharashtra

Investment industry startups in Maharashtra

Newer investment firms and investment tech companies founded in recent years.

  1. Kathari

    Infrastructure fund focused on multiple sectors

    Infrastructure funds
    Website
  2. Think9

    Platform for brand co creation services

    Accelerators & incubators
    Website
  3. Coeus Advisors

    Merger and acquisition advisory firm

    Investment banks
    Website
  4. Sustainable Energy Infra Trust

    Infrastructure investment trust

    Infrastructure funds
    Website
  5. WSB

    Investment management company with a distinct approach to alternative investments in the real estate industry

    Real estate funds
    Website
143 companies in Maharashtra

Investment industry companies hiring in Maharashtra

Investment firms with open jobs right now.

  1. First Meridian

    Provider of business consulting and staffing services

    Management consulting services
    See in list
  2. Nippon

    Private equity firm and fund of funds focused on multiple sectors

    Private equity funds
    See in list
  3. NSFO

    Investment firm partnering with enterprises managed by world-class leadership teams

    Single family offices
    See in list
  4. Ajmera Realty & Infra India

    Real estate investment management firm

    Real estate funds
    See in list
  5. Tata Mutual Fund

    Asset management company

    Asset management
    See in list
24 companies in Maharashtra

Listed investment companies in Maharashtra

Publicly traded investment and financial companies.

  1. Authum

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

    Asset management
    See in list
  2. Kirloskar Brothers Investments

    KBL Group backed venture capital fund

    Venture capital funds
    See in list
  3. JM Financial

    Investment bank firm focused on multiple sectors

    Investment banks
    See in list
  4. Centrum

    Regional investment bank

    Investment banks
    See in list
  5. Suashish

    Diversified business group with interests in diamonds, jewellery, real estate, and investments

    Venture capital funds
    See in list
34 companies in Maharashtra
Mobile reach

Top 10 investment industry apps from Maharashtra

The most-installed Android apps published by investment industry companies headquartered in Maharashtra — 12.6M installs between them. 35 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 10
1

Teji Mandi:Investing & Trading

by Teji Mandi

Installs3.4M
Rating3.8916K ratings
Installs, year on year+30%
Last updatedJun 2026
Legal entityTM INVESTMENT TECHNOLOGIES PRIVATE LIMITEDCIN U65990MH2020PTC342552
View on Google Play ↗
Teji Mandi:Investing & Trading screenshot 1Teji Mandi:Investing & Trading screenshot 2Teji Mandi:Investing & Trading screenshot 3Teji Mandi:Investing & Trading screenshot 4Teji Mandi:Investing & Trading screenshot 5Teji Mandi:Investing & Trading screenshot 6
2

Nippon India Mutual Fund

by Nippon

Installs3.0M
Rating4.0253K ratings
Installs, year on year+18%
Last updatedMay 2026
Legal entityNIPPON LIFE INDIA ASSET MANAGEMENT LIMITEDCIN L65910MH1995PLC220793
View on Google Play ↗
Nippon India Mutual Fund screenshot 1Nippon India Mutual Fund screenshot 2Nippon India Mutual Fund screenshot 3Nippon India Mutual Fund screenshot 4Nippon India Mutual Fund screenshot 5Nippon India Mutual Fund screenshot 6
3

Choice FinX: Demat Account App

by Choice

Installs2.7M
Rating3.7422K ratings
Installs, year on year+32%
Last updatedJun 2026
Legal entityCHOICE INSURANCE BROKING INDIA PRIVATE LIMITEDCIN U67200MH2002PTC137373
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
5

Tata Mutual Fund - SIP & Track

by Tata Mutual Fund

Installs1.0M
Rating—
Installs, year on year+500%
Last updatedJun 2026
Legal entityTATA ASSET MANAGEMENT PRIVATE LIMITEDCIN U65990MH1994PTC077090
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
6

Mirae Asset Mutual Fund

by Mirae Asset

Installs662K
Rating4.784K ratings
Last updatedJun 2026
Legal entityMIRAE ASSET INVESTMENT MANAGERS (INDIA) PRIVATE LIMITEDdeclared on Google Play
View on Google Play ↗
Mirae Asset Mutual Fund screenshot 1Mirae Asset Mutual Fund screenshot 2Mirae Asset Mutual Fund screenshot 3Mirae Asset Mutual Fund screenshot 4Mirae Asset Mutual Fund screenshot 5
9

Dhanush: Demat, Stocks & IPOs

by Ashika Group

Installs39K
Rating5.0616 ratings
Last updatedMay 2026
Legal entityASHIKA CREDIT CAPITAL LIMITEDCIN L67120WB1994PLC062159
View on Google Play ↗
Dhanush: Demat, Stocks & IPOs screenshot 1Dhanush: Demat, Stocks & IPOs screenshot 2Dhanush: Demat, Stocks & IPOs screenshot 3Dhanush: Demat, Stocks & IPOs screenshot 4Dhanush: Demat, Stocks & IPOs screenshot 5Dhanush: Demat, Stocks & IPOs screenshot 6
The business behind the activity

Investment industry financials in Maharashtra

Revenue, profit and growth from the filed annual accounts of 317 investment industry companies in Maharashtra for FY24-25 — 440 of the 1,291 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 55% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹22,598.42 cr

317 companies filing accounts

combined net profit₹5,925.71 cr

26.2% aggregate margin

are profitable72%

228 of 317 companies

median revenue~₹6.0 cr

the typical company

median revenue growth+18%

into FY24-25

earned by the top five55%

revenue concentration

Six-year view

Combined revenue of filing companies

₹11,794.50 crFY19-20285 filers
₹12,619.25 crFY20-21308 filers
₹16,800.89 crFY21-22323 filers
₹18,855.02 crFY22-23347 filers
₹22,395.95 crFY23-24362 filers
₹22,598.42 crFY24-25317 filers

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

Like-for-like

The same 273 companies over three years

+63%
FY22-23₹13,602.17 cr₹2,494.27 cr net
FY23-24₹18,939.97 cr₹5,707.19 cr net
FY24-25₹22,116.01 cr₹5,917.51 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 cr7944% profitable
₹1–10 cr11474% profitable
₹10–100 cr9585% profitable
₹100–1,000 cr2696% 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

Shrinking100
0–20%55
20–50%44
50–100%41
Doubled+61

301 companies with accounts for both years; median growth +18%.

Profitability

Profit is concentrated at the top

228profitable
89loss-making
26.2%aggregate margin
10.5%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
TCGTCG ADVISORY SERVICES PRIVATE LIMITED+782%₹32.69 cr
KriscoreKRISCORE FINANCIAL ADVISORS PRIVATE LIMITED₹10.82 cr
Vantage PointVANTAGE POINT FINOVATION PRIVATE LIMITED₹35.30 cr
TrustcapTRUSTCAP PRIVATE LIMITED₹14.58 cr
Mt. K KapitalMT K KAPITAL PRIVATE LIMITED+364%₹14.99 cr
FlorintreeFLORINTREE ADVISORS PRIVATE LIMITED
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
Aurum VenturesAURUM VENTURES PRIVATE LIMITED82.9%₹137.76 cr
BresconBRESCON VENTURES PRIVATE LIMITED₹72.82 cr
Invicta CapservINVICTA CAPSERV PRIVATE LIMITED70.0%
Virtuous CapitalVIRTUOUS CAPITAL LIMITED69.4%₹18.24 cr
Intensive SoftshareINTENSIVE SOFTSHARE PRIVATE LIMITED
KriscoreKRISCORE FINANCIAL ADVISORS PRIVATE LIMITED63.3%₹10.82 cr
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Private equity funds32₹9,247.35 cr~₹9.7 cr66%33.2%
Venture capital funds43₹4,685.43 cr~₹8.1 cr72%15.9%
Investment banks146₹4,553.31 cr~₹5.7 cr76%28.0%
Asset management5₹869.90 cr~₹7.6 cr80%36.6%
Real estate funds6₹597.22 cr~₹11.6 cr83%21.1%
Infrastructure funds6₹317.62 cr~₹18.8 cr50%2.2%
Investment research services7₹198.29 cr~₹3.4 cr71%8.6%
Investment consultants16₹115.59 cr~₹1.3 cr75%28.3%
Leaders

Largest investment industry companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
Motilal OswalMOTILAL OSWAL FINANCIAL SERVICES LIMITED₹5,478.33 cr₹1,391.33 cr25.4%+18%
Kirloskar Brothers InvestmentsKIRLOSKAR BROTHERS LIMITED₹2,942.17 cr₹262.11 cr8.9%+7%
NipponNIPPON LIFE INDIA ASSET MANAGEMENT LIMITED₹2,348.28 cr₹1,252.23 cr53.3%+25%
NSFOMADHURIMA INTERNATIONAL PRIVATE LIMITED₹802.16 cr₹26.18 cr3.3%-26%
Axis CapitalAxis Capital Limited₹782.63 cr₹168.55 cr21.5%+32%
Multiples Alternate Asset ManagementMULTIPLES ALTERNATE ASSET MANAGEMENT PRIVATE LIMITED₹779.28 cr₹263.81 cr33.9%+174%
SuashishSUASHISH DIAMONDS LIMITED₹777.36 cr₹294.31 cr37.9%-28%
Tata Mutual FundTATA ASSET MANAGEMENT PRIVATE LIMITED₹713.92 cr₹293.56 cr41.1%+32%
Kotak Investment BankingKOTAK MAHINDRA CAPITAL COMPANY LIMITED₹669.16 cr₹364.89 cr54.5%+46%
Ajmera Realty & Infra IndiaAJMERA REALTY & INFRA INDIA LIMITED₹543.67 cr₹111.64 cr20.5%+10%
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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

Investment Industry Landscape of India

The financials above are one chapter. The full investment industry landscape of Maharashtra 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 investment industry landscape of Maharashtra
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

Investment industry funding and M&A across India

133 recorded equity rounds have gone to 4,229 investment industry companies in India — how much, at which stage, into which sub-sectors, from whom, and how Maharashtra compares. Debt, IPO and grant rounds are excluded.

equity rounds, last 12 months2

US$6.11m

equity rounds, last 24 months12

US$290.00m

raised over five yearsUS$805.39m

54 rounds in India

M&A deals, Maharashtra95

last 24 months

Capital by year

Equity funding into investment industry in India

amount rounds
$68m201811
$499m20198
$15m20204
$216m20219
$24m20228
$12m202314
$266m202413
$281m20258
$6.1m20262

Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2019, with US$499.26m across 8 rounds.

The funding ladder · five years

Rounds and typical cheque by stage

AngelUS$42.87m18 rounds · median US$259k
SeedUS$21.00m20 rounds · median US$951k
Series AUS$16.69m6 rounds · median US$2.17m
Series BUS$34.05m5 rounds · median US$3.45m
Series CUS$24.50m1 rounds · median US$24.50m
Series D+US$666.29m3 rounds · median US$217.13m
Where the money went · five years

Most-funded sub-sectors

Infrastructure fundsUS$666.29m5 rounds · 3 companies
Investment banksUS$38.40m9 rounds · 8 companies
Asset managementUS$29.42m3 rounds · 3 companies
Consumer and sme loansUS$24.50m1 rounds · 1 companies
Accelerators & incubatorsUS$16.56m10 rounds · 4 companies
Real estate & infrastructure developersUS$9.65m4 rounds · 1 companies
Investment consultantsUS$8.17m6 rounds · 4 companies
Corporate activity · last 24 months

M&A in Maharashtra

94Acquisition
1Merger

Most active acquirers

  1. Jsw group23
  2. Authum investment & infrastructure12
  3. Aurum proptech5
  4. True north3
  5. Multiples alternate asset management3

Most acquired or merged

  1. Avendus5
  2. Emkay Global Financial Services3
  3. Batlivala & karani securities3
  4. JSW MG Motor India2
  5. Prataap Snacks2

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

Go deeper in the investment industry landscape reports:

Investment Industry Landscape of India

Investment industry funding in Maharashtra

28 investment industry companies in Maharashtra have recorded equity funding, US$276.98m in total. Totals and round dates describe the historical record; they are not current valuations.

Founders and momentum in Maharashtra

Meet the people behind investment industry companies in Maharashtra. 735 of 1,291 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore Maharashtra investment industry companies by sub-sector

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

Keep exploring investment industry in India and nearby markets.

Coming soon