Arihant Capital Markets

What Arihant Capital Markets does

Arihant Capital Markets Limited is a SEBI-registered Indian capital markets intermediary founded in 1992 by Ashok Kumar Jain, headquartered in Indore with a corporate office in Mumbai and listed on BSE (511605) and NSE (ARIHANTCAP). The firm operates 800+ Investor Centres across 200+ Indian cities, serving a base of 2.5 lakh+ retail and small-HNI clients through a multi-license stack that spans equity, derivatives, commodity and currency broking, depository services, mutual fund and IPO distribution, portfolio management services (PMS AUM of Rs 790 crore), alternative investment funds (AIFs), insurance, NPS, fixed income, merchant banking, and institutional broking.

The company's business model is a cross-sell platform: it earns brokerage commissions on trading volumes across asset classes, trail fees and commissions on mutual fund and insurance distribution, asset-based fees on PMS and AIF mandates, and advisory/merchant banking fees on corporate finance transactions. Distribution is anchored by physical Investor Centres combined with digital onboarding, supplemented by proprietary research and, more recently, AI-powered investment solutions including MCP, curated Themes, and an Options Strategy Builder. Newer growth vectors include the Laureate AIF, Arihant Bharat Advantage Fund, a pre-IPO platform branded The Unlisted Hub, and a merchant banking franchise being built around a senior hire from Pantomath Capital.

FY26 reported revenue was Rs 205.84 crore (down 16.77% YoY) and net profit Rs 31.46 crore (down 46.41% YoY), followed by a Q1 FY27 rebound with revenue up 53.46% YoY to Rs 77.91 crore and profit up 69.21% YoY to Rs 21.49 crore. Market capitalization stood at Rs 1,136.39 crore. The firm has been recognized as Asiamoney Best Retail Brokerage in 2021 and 2022.

Name

Arihant Capital Markets

Legal name

Arihant Capital Markets Limited

Website

https://arihantcapital.com

Company type

Public

Founded year

1992

Operating status

Operating

Headcount range

251–500 employees

Short description

Arihant Capital Markets is a SEBI-registered Indian capital markets intermediary operating 800+ Investor Centres across 200+ cities, serving 2.5 lakh+ retail and HNI clients with brokerage, PMS, AIF, mutual fund distribution, and merchant banking services.

Ownership category

akta.pro rank

Product category

Retail Brokerage & Wealth Management

NAICS

Investment Banking and Securities Intermediation (523150), Portfolio Management and Investment Advice (523940), Miscellaneous Intermediation (52391)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

akta.pro secondary industries

Capital Raising Advisory (Debt/Equity/Private Capital) (BPAHADAG), Small-Cap Equity (Active) (FSAAAIAC)

Keywords

• Retail brokerage services
• Stock trading platforms
• Wealth management services
• Investment advisory
• Merchant banking

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Brokerage Fees - Equity Trading: Commission-based brokerage fees charged on equity cash segment trades (both intraday and delivery), futures, and options. Intraday trading charged at 0.03% or Rs 20 per executed order whichever is lower; delivery at 0.30% or Rs 20 per executed order whichever is lower; equity options at Rs 50 per lot.
2. Brokerage Fees - Commodity & Currency Trading: Commission-based brokerage on MCX commodity futures (0.02%), NCDEX commodity futures (0.02%), and currency derivatives (0.01% for currency futures, Rs 10 per lot for currency options).
3. Premium Research Subscription: Subscription-based premium research services (Arihant Premium Research) providing stock recommendations, technical analysis, and investment advisory to fee-paying clients.
4. Margin Trading Facility (MTF): Interest-bearing loans extended to clients against securities as collateral, providing funding for leveraged positions with pre-approved list of securities.
5. Investment Banking Services: Merchant banking services including IPO management as book-running lead manager, institutional equity sales, and corporate advisory. Revenues from successful IPO completions like Sai Parenteral (Rs 408.79 crore issue) where Arihant served as BRLM.
6. Demat & Depository Services: Depository participant services for securities dematerialization and rematerialization, account maintenance, and pledge management through CDSL and NSDL partnerships.
7. Mutual Fund Distribution: Distribution of mutual funds from 40+ asset management companies with access to 5,000+ funds, earning trailer commissions and distribution fees.
8. Portfolio Management Services (PMS): Discretionary and non-discretionary portfolio management through Electrum Capital (AUM of Rs 790 crore as of June 2025), targeting HNIs and family offices.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels9 records

Core offering

Arihant Capital Markets Limited is a SEBI-registered stock broker and depository participant offering equity, derivatives, commodity, and currency trading on NSE, BSE, MCX, and NCDEX. It distributes mutual funds from 40+ AMCs, provides IPO investment, depository (demat) services, fixed income, NPS, portfolio management (PMS/AIF), merchant banking, and institutional broking, supported by proprietary web, desktop, and mobile trading platforms and a 800+ Investor Centre branch network.

Product overview

Arihant Capital Markets Limited is a comprehensive financial services platform offering retail and institutional clients a full suite of investment and trading products. The core platform consists of multiple trading platforms including Arihant Plus (OmneNest) web trading and Symphony, supplemented by algo trading tools Trade Bridge and Stratzy. The company provides AI-powered investment solutions including MCP, curated Themes, and Options Strategy Builder alongside premium research services. Core services span equity, derivatives, currency, and commodity trading; mutual fund distribution; IPO investments; fixed income; demat services; and NPS. Wealth management includes Portfolio Management Services through Electrum Capital, AIF funds (Laureate AIF and Arihant Bharat Advantage Fund), and curated stock discovery tools (Value Stocks, Stock Stack). Educational services are offered through AIFE. The ecosystem is supported by margin financing (MTF) and merchant/institutional banking services.

Differentiator

Problem solved

Functional benefit

Brands

• Arihant Plus: Trading platform and mobile application for investors and traders
• OmneNest
• Symphony
• Electrum
• Arihant Bharat Advantage Fund
• Laureate
• Trade Bridge
• Stratzy
• AIFE (Arihant Institute of Financial Education)
• MTF (Margin Trading Facility)
• The Unlisted Hub

Products and services

• Arihant Plus (OmneNest) Web Trading Platform Web-based trading platform for equity, derivatives, commodity, and currency trading with real-time market data, advanced charting, and portfolio management, used by self-directed retail and active traders in India.
• Symphony Trading Terminal Desktop trading terminal providing advanced order types and faster execution for professional and active traders.
• Arihant Plus Mobile App Mobile trading and investing application for iOS and Android enabling on-the-go trading and portfolio management.
• Trade Bridge (Algo Trading Platform) Algorithmic trading platform enabling automated strategy execution for systematic and active traders.
• Stratzy (Algo Trading Platform) Algorithmic trading solution for traders to design and deploy systematic trading strategies.
• Equity Trading Stock broking on the NSE and BSE equity cash segment (intraday and delivery-based) for retail and active traders.
• Currency Trading Currency derivatives trading on NSE and BSE for Rupee and cross-currency pairs, targeted at active traders and hedgers.
• Commodity Trading Commodity futures and options trading on MCX and NCDEX across gold, silver, crude oil, base metals, and agricultural commodities.
• Mutual Fund Distribution Distribution of 5,000+ mutual fund schemes from 40+ AMCs with research-backed fund selection, for retail investors seeking diversified fund investments.
• IPO Investment Services IPO subscription and application services for retail and institutional investors via a dedicated online IPO platform.
• Demat Services Demat account services for electronic holding, settlement, and transfer of securities through NSDL and CDSL depository infrastructure.
• Fixed Income Products Bond and fixed income investment products including government securities, corporate bonds, and tax-saving bonds for retail and HNI investors.
• National Pension System (NPS) Pension investment services under India's National Pension System, supporting retirement planning for individuals.
• Portfolio Management Services (PMS) Discretionary and non-discretionary portfolio management for high-net-worth clients, managed through the wholly owned Electrum Capital subsidiary.
• Laureate AIF Category III Alternative Investment Fund by Electrum Portfolio Managers targeting long-term growth through small and midcap stocks for HNIs, family offices, and institutional investors (minimum investment Rs 1 crore).
• Arihant Bharat Advantage Fund Category III Alternative Investment Fund targeting small-cap, micro-cap, and nano-cap stocks via a core-plus-satellite framework for HNIs, family offices, and institutional investors (minimum investment Rs 1 crore).
• Merchant Banking Services Investment banking services for corporate clients including IPO management as book-running lead manager, QIP facilitation, and corporate advisory.
• Institutional Broking Equity research, institutional equity sales, and trading desk services for institutional investors, including block deals, corporate access, and earnings call facilitation.
• FPI Services Foreign Portfolio Investor services supporting international institutional investors investing in Indian securities markets.
• Pre-IPO Investment Platform (The Unlisted Hub) Pre-IPO investment platform providing clients access to unlisted equities prior to public listing.
• Margin Trading Facility (MTF) Margin funding service extending interest-bearing loans to existing active clients against pre-approved securities as collateral, enabling leveraged positions.
• Arihant Premium Research Subscription-based premium research service providing stock recommendations, price targets, technical analysis, and investment advisory for fee-paying retail and HNI clients.
• AIFE (Arihant Institute of Financial Education) Stock market and financial education initiative offering short-term professional courses and NISM certification programs for students and aspiring finance professionals.

Quantifiable outcome

• Operating profit margin improved from 39.98% to 45.40% in Q1 FY27
• +2 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature8 records

Partnerships

Eleven partnerships are on record, tiered minor, core and major.

• Bigshare Services (Registrar for IPO)minorImplementation/ SI/ Consulting Partner · 24 March 2026Registrar and transfer agent partnership for IPO processing. Bigshare Services handles IPO share allotment and investor registry management for IPOs managed by Arihant Capital.
• CDSL (Central Depository Services Limited)coreTechnology or IntegrationArihant operates as a Depository Participant (DP ID: 43000) of CDSL, providing dematerialization, rematerialization, and demat account services to clients. Integration enables electronic securities holding and transfer through CDSL's depository infrastructure.
• NSDL (National Securities Depository Limited)coreTechnology or IntegrationArihant operates as a Depository Participant (DP ID: IN-DP-127-2015) of NSDL, providing demat services through NSDL's depository infrastructure for electronic securities holding.
• NSE (National Stock Exchange)coreTechnology or IntegrationMember of NSE (Member ID: 07839) enabling trading access to equity cash, equity derivatives, currency derivatives segments on India's largest stock exchange.
• BSE (Bombay Stock Exchange)coreTechnology or IntegrationMember of BSE (Member ID: 313) enabling trading access to equity cash and derivatives segments on India's oldest stock exchange.
• MCX (Multi Commodity Exchange)coreTechnology or IntegrationMember of MCX (Member ID: 56565) enabling commodity futures and options trading across commodities including precious metals, base metals, energy, and agricultural commodities.
• NCDEX (National Commodity and Derivatives Exchange)coreTechnology or IntegrationMember of NCDEX (Member ID: 01274) enabling commodity derivatives trading with focus on agricultural commodities.
• AMFI (Association of Mutual Funds in India)coreChannel Partner/ Reseller/ DistributorRegistered Mutual Fund Distributor (ARN: 15114) authorized to distribute mutual fund products from 40+ asset management companies across India. ARN valid through December 18, 2028.
• Mutual Fund Companies (40+ AMCs)coreChannel Partner/ Reseller/ DistributorPartnership with 40+ asset management companies enabling distribution of 5,000+ mutual fund schemes including partners like HDFC, ICICI Prudential, Nippon India, SBI, Kotak, Aditya Birla, Axis, and others.
• Electrum Portfolio ManagersmajorStrategic or Co-development PartnerArihant Capital's PMS subsidiary managing Rs 790 crore AUM (as of June 2025). Offers Laureate PMS and AIF products (Arihant Bharat Advantage Fund, Category III AIF) targeting small/midcap stocks. Joint distribution through Arihant's 2.5 lakh+ client base.
• Arihant Financial Planners and Advisors Pvt LtdminorStrategic or Co-development PartnerAffiliate company within the Arihant group focused on financial planning and advisory services, complementing the broking business with holistic financial planning.

Scale indicators10 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Groww: Leading Indian discount broker and mutual fund distribution platform serving retail investors digitally. Direct competitor for new-age retail trading and investment accounts.
• HDFC Securities: Bank-affiliated full-service broker offering trading, distribution, IPO, and wealth management services to Indian retail and institutional clients. Mirrors Arihant's distribution-driven, research-led model.
• Kotak Securities: Bank-affiliated stock broker providing equity, derivatives, currency, and commodity trading plus distribution and advisory services. Overlaps with Arihant on listed, full-service, multi-segment brokerage.
• 5paisa Capital: Listed Indian discount broker offering trading, mutual fund distribution, and research via digital platforms. Direct competitor in the listed, technology-led retail brokerage segment.
• ICICI Securities: Bank-affiliated full-service broker providing equity broking, merchant banking, distribution, and wealth management to retail and institutional investors in India. Comparable multi-segment offering and customer base to Arihant.
• Angel One: Listed Indian broker offering equity, commodity, and currency trading along with mutual funds, IPO, and research. Comparable multi-product, multi-channel setup and listed peer status.
• Sharekhan (by BNP Paribas): Large Indian retail brokerage with trading platforms, research, advisory, and extensive branch/sub-broker network. Direct competitor in retail equity and derivatives with similar relationship-led franchise.
• Motilal Oswal Financial Services: Indian full-service brokerage offering equity/derivatives broking, PMS, AIF, investment banking, and wealth management across retail and institutional clients. Closely comparable to Arihant on product breadth, distribution model, and small/midcap focus.
• Zerodha: India's largest discount broker with technology-led, low-fee equity and derivatives trading. Represents the price-disruption peer that competes for the same retail trading volume as Arihant.
• Prudent Corporate Advisory Services: Listed Indian wealth management and broking franchise with strong sub-broker network and retail distribution. Comparable in branch/sub-broker distributed model and mutual fund distribution focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key highlights6 records

Customer concentration

• Xx.com/arihantcapital
• Facebookfacebook.com/arihantcapitalmarkets
• LinkedInlinkedin.com/company/arihant-capital-markets-ltd

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries2 records

Funding overview

Funding rounds

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 Arihant Capital Markets