ICICI Securities

What ICICI Securities does

ICICI Securities Limited is an integrated securities firm incorporated in 1995 and headquartered in Mumbai, India. Operating as the investment services arm of ICICI Group, with ICICI Bank as parent, the company serves three primary customer segments: retail investors through the ICICI Direct digital platform, high-net-worth individuals and family offices via Private Wealth Management, and corporate and government clients through an Institutional Business division covering equity capital markets, M&A advisory, private equity placement, and structured products. The firm holds multiple SEBI registrations and exchange memberships (NSE and BSE cash and equity derivatives, NSE currency derivatives), enabling full-spectrum multi-asset execution across equities, mutual funds, futures and options, commodities, fixed income, insurance, and global investments.

The company's technology foundation is the ICICI Direct platform, available as a mobile application (with 4.7+ app store ratings) and a web interface, supplemented by the ICICI Direct iLearn educational platform. Distribution combines self-serve digital channels with relationship-manager-led coverage for HNIs and an enterprise sales model for institutional mandates, with cross-selling leverage from ICICI Bank's domestic branch network. The firm also produces institutional research, hosts the annual India Investor Conference as a proprietary thought-leadership platform, and serves as book-running lead manager or adviser on marquee Indian capital markets transactions.

Revenue is generated through four principal streams: brokerage and trading commissions on multi-asset execution; investment banking and advisory fees on IPOs, QIPs, M&A, and structured products; distribution commissions on third-party financial products (mutual funds, insurance, fixed income); and fee-based private wealth management services. The firm is not publicly traded, operates exclusively in the Indian market, and reported a Rs 417.96 crore quarterly profit in Q1 FY27, representing 7% YoY growth.

Name

ICICI Securities

Legal name

ICICI Securities Limited

Website

https://icicisecurities.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

ICICI Securities is an integrated Indian securities firm serving retail investors via the ICICI Direct digital platform, high-net-worth individuals through private wealth management, and corporates and government bodies through equity capital markets and M&A advisory as part of the ICICI Group.

Ownership category

akta.pro rank

Product category

Securities Brokerage and Investment Banking

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Investment Banking and Securities Intermediation (52315), Portfolio Management and Investment Advice (523940)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Digital Brokerage & Self-Directed Investing Platforms (FSAGAEAC)

akta.pro secondary industries

Full-Service Retail Brokerage & Wealth Platforms (FSAAAAAA), Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL), Private Banking Advisory & Discretionary Portfolio Management (FSABADAD)

Keywords

• Retail brokerage services
• Investment banking advisory
• Private wealth management
• Equity capital markets
• Multi-asset trading platform

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Brokerage and Trading Commissions: Revenue generated from execution and brokerage fees on equity trading, derivatives (F&O), commodities, and currency transactions for retail and institutional clients through the ICICI Direct platform.
2. Investment Banking and Advisory: Fees from acting as book-running lead manager, underwriter, and advisor on IPOs, QIPs, M&A transactions, and other capital markets deals for corporate and government clients.
3. Distribution of Financial Products: Revenue from distribution commissions on mutual funds, insurance products, fixed income securities, and other third-party financial products to retail and institutional investors.
4. Private Wealth Management Services: Fee-based and advisory revenue from bespoke wealth management services including equities, financial product distribution, business finance, and private wealth management for high-net-worth individuals and family offices.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

ICICI Securities operates the ICICI Direct digital trading platform (mobile app and website) enabling retail investors to trade equities, mutual funds, futures and options, commodities, fixed income, insurance, and global investments, supported by the ICICI Direct iLearn education portal. Beyond retail brokerage, the firm runs a Private Wealth Management practice serving HNIs and family offices with bespoke equity, distribution, business finance, and wealth advisory services, and an Institutional Business division handling equity capital markets (IPOs, QIPs), M&A advisory, private equity placement, and structured products for corporate and government clients.

Product overview

ICICI Securities operates as a financial services and brokerage firm offering a unified digital platform for multi-asset investing and trading. The core offering comprises the ICICI Direct platform (available as mobile app and website), which integrates equities, mutual funds, futures & options, commodities, fixed income, insurance, and global investments under one roof. The company further differentiates through ICICI Direct iLearn (an educational platform) and supplements its retail focus with Private Wealth Management and Institutional Business divisions covering equity capital markets, M&A advisory, private equity, and structured products.

Differentiator

Problem solved

Functional benefit

Products and services

• ICICI Direct App Unified mobile application for multi-asset investing and trading, combining real-time data, advanced order tools, research, and portfolio analytics within a secure, high-performance mobile interface; targeted at retail investors in India.
• ICICI Direct Website Web-based brokerage and wealth platform integrating research, execution, and portfolio tracking with real-time market feeds, seamless navigation, and reliable security across investment and wealth solutions; targeted at retail investors and self-directed users.
• ICICI Direct iLearn Free educational platform offering in-depth knowledge on stock markets, personal finance, and financial trends, accessible via a dedicated mobile app; aimed at retail investors and prospective customers to support onboarding and financial literacy.
• Investments (Retail Multi-Asset Broking) Comprehensive investment product suite spanning Equities, Mutual Fund, Futures and Options, Commodities, Fixed Income, Insurance, and Global Investments for individual investors, with research-driven insights.
• Private Wealth Management Bespoke wealth management strategies for high-net-worth individuals and family offices, encompassing Equities, Financial Product Distribution, Business Finance, and Private Wealth Management services.
• Institutional Business Institutional services for corporate and government bodies to raise and deploy capital effectively through Equity Capital Markets (IPOs, QIPs, FPOs), M&A advisory, Private Equity placement, and Structured Products, supported by high-quality research, strategic insights, and corporate access.

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered core, flagship and minor.

• Adani EnterprisescoreChannel Partner/ Reseller/ Distributor · 2 July 2026ICICI Securities served as book-running lead manager for Adani Enterprises' Rs 15,000 crore QIP, one of India's largest equity fundraises. The transaction attracted global institutional investors including Capital Group, BlackRock, Goldman Sachs, and domestic mutual funds.
• State Bank of India (SBI)coreChannel Partner/ Reseller/ DistributorSBI Funds Management IPO: ICICI Securities acted as book running lead manager for SBI's Rs 9,813 crore IPO, the largest asset management company listing in India. The transaction involved State Bank of India and Amundi as selling shareholders.
• Amundi Asset ManagementcoreChannel Partner/ Reseller/ DistributorCo-selling shareholder in SBI Funds Management IPO alongside State Bank of India; Amundi holds joint venture stake in SBI Funds Management and participated in the Rs 9,813 crore offer for sale.
• MSEDCL (Maharashtra State Electricity Distribution Co.)flagshipChannel Partner/ Reseller/ DistributorShortlisted as one of six investment bankers to advise on MSEDCL's planned Rs 10,000 crore IPO. The utility serves most consumers in India's largest subnational economy and would be among India's first government-owned electricity distribution company listings.
• InsuranceDekho / Girnar Insurance BrokersflagshipChannel Partner/ Reseller/ DistributorSelected as adviser alongside HSBC and Morgan Stanley for InsuranceDekho's planned up to $400 million IPO, expected in late 2026 or early 2027. The insurance aggregator is backed by investors including Investcorp and BNP Paribas Cardif.
• Maxivision Super Specialty Eye HospitalsminorChannel Partner/ Reseller/ DistributorAppointed as investment banker alongside IIFL Capital for Maxivision's planned $1 billion IPO in 2027, backed by healthcare-focused private equity firm Quadria Capital.
• Blue Jet HealthcareminorChannel Partner/ Reseller/ DistributorServed as book running lead manager alongside Motilal Oswal Investment Advisors for Blue Jet Healthcare's Rs 800 crore QIP, which closed with only two investors acquiring nearly two-thirds of the issue.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• HDFC Securities: Indian retail and institutional brokerage arm of HDFC Group offering equities, derivatives, mutual funds, and investment banking services. Comparable as a direct bank-affiliated full-service securities firm serving retail and institutional clients in India.
• Kotak Securities: Bank-affiliated (Kotak Mahindra) full-service stockbroking and distribution franchise with online trading and institutional equities. Directly comparable to ICICI Securities in product breadth, customer mix, and bank-led distribution.
• Motilal Oswal Financial Services: Indian full-service broker and investment bank offering retail trading, wealth management, and institutional equity capital markets services. Comparable as a multi-channel securities firm with strong research and IB franchises.
• IIFL Securities: Indian securities firm offering brokerage, investment banking, and wealth management. Directly comparable across retail, institutional, and IB lines with similar digital and relationship-led models.
• Axis Securities: Brokerage subsidiary of Axis Bank offering retail trading, mutual fund distribution, and investment banking. Comparable bank-affiliated full-service broker with cross-sell via the parent bank's branch network.
• Sharekhan (BNP Paribas subsidiary): Indian full-service retail broker with online trading and advisory services. Comparable in retail brokerage product suite and target customer base of individual Indian investors.
• Geojit Financial Services: Indian securities firm offering retail brokerage, mutual fund distribution, and wealth management. Comparable mid-sized full-service broker focused on retail and HNI clients.

Emerging players

• Zerodha: India's largest discount broker with a tech-led, low-commission model. Comparable on retail trading platform and customer base, but competes primarily on price rather than full-service wealth and IB offerings.
• Groww: Fast-growing Indian discount broker and mutual fund distributor with a mobile-first platform. Overlaps with ICICI Direct on retail equities and MF distribution but competes on price and UX.

Others

• ICICI Bank: Parent entity and primary distribution partner of ICICI Securities. Relevant as the controlling shareholder and channel through which the firm cross-sells brokerage and investment products, but not a direct competitor.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/icici-securities

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ICICI Securities