Batlivala & Karani Securities

What Batlivala & Karani Securities does

Batlivala & Karani Securities India Pvt. Ltd. (now operating as 360 ONE Capital Market) is an Indian institutional financial services group incorporated in 1998 and headquartered in Bandra East, Mumbai. Following its 2025 acquisition by 360 ONE WAM for a combined Rs 1,884 crore alongside UBS's Indian wealth management business, it operates as a wholly-owned subsidiary focused on institutional brokerage, wealth management advisory, and capital markets services. The firm serves institutional investors, family offices, ultra-high-net-worth individuals, and corporate clients, claiming 60,000+ crore in assets under advice and operating what it describes as India's largest equity analyst team.

The company's product portfolio spans equities advisory, research and trade execution; mutual fund analysis and distribution (AMFI-registered); investment banking including M&A advisory and capital raising; strategic consulting; insurance advisory and broking via the affiliated Neem Tree Insurance Broking & Advisory; and alternative investments comprising an incubator ecosystem and a private equity fund. Revenue is generated through a diversified mix of brokerage transaction commissions, asset management company distribution commissions, insurance commissions, advisory and success fees on investment banking mandates, consulting engagement fees, and PE management fees plus carried interest.

The firm operates a purely relationship-driven, consultative go-to-market model — direct institutional sales with bespoke engagement-based pricing and no self-serve platform. It holds SEBI stock broker (INZ000284836), research analyst (INH300000211), and merchant banker registrations, plus NSE (10405) and BSE (736) trading memberships and AMFI ARN-0703 for mutual fund distribution. The technology posture is conventional — no proprietary platform or AI/ML capabilities are described in available material; competitive differentiation rests on human-capital depth (analyst coverage) and multi-product cross-sell rather than technology.

Name

Batlivala & Karani Securities

Legal name

Batlivala & Karani Securities India Pvt. Ltd.

Website

https://bksec.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

251–500 employees

Short description

Batlivala & Karani Securities is an Indian institutional financial services firm offering equity research, brokerage, investment banking, mutual fund distribution, insurance broking, and alternative investments to institutional clients, family offices, and corporates across domestic capital markets, now operating as 360 ONE Capital Market following 2025 acquisition by 360 ONE WAM.

Ownership category

akta.pro rank

Product category

Institutional Brokerage

NAICS

Portfolio Management and Investment Advice (523940), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), All Other Financial Investment Activities (52399)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Corporate Finance & Capital Advisory (BPAHADAB)

akta.pro secondary industries

Buy-Side M&A Advisory (FSAEAGAB), Equity Capital Advisory (Private Equity Placements, Growth Capital) (BPAHAOAE), Investor Education, Research & Portfolio Analytics Services (Retail) (FSAAAAAO)

Keywords

• Institutional brokerage services
• Equity research analysis
• Investment banking advisory
• Wealth management advisory
• Mutual fund distribution

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Equities: Advisory, Research & Execution: Provides in-depth equity research, advisory, and trade execution services to institutional clients investing in Indian financial markets. Revenue is generated through brokerage commissions on equity trades and advisory fees.
2. Mutual Fund Analysis and Distribution: Conducts periodic qualitative and quantitative analysis of mutual funds and distributes mutual fund products. Revenue is earned through commissions from asset management companies (AMCs), as disclosed in the SEBI-required 'Disclosure of Commissions from AMCs' document.
3. Investment Banking: Provides investment banking services including capital raising, M&A advisory, and strategic transactions to corporate clients. Revenue is generated through advisory fees and success fees on completed transactions.
4. Insurance Advisory & Broking: Insurance services are delivered through affiliated entity Neem Tree Insurance Broking & Advisory, helping corporate clients achieve cost-effective and comprehensive insurance solutions. Revenue is earned through insurance commissions.
5. Strategic Consulting: Provides strategic consulting services to corporate, institutional, and family office clients. Revenue is generated through consulting engagement fees.
6. Alternative Investments: Private Equity & Incubator: Operates a private equity fund and incubator ecosystem for startups and growth-stage companies. Revenue derives from management fees and carried interest on PE fund performance.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Batlivala & Karani Securities is a SEBI-registered institutional financial services group providing equity research, advisory, and trade execution; mutual fund analysis and distribution; strategic consulting; insurance advisory and broking (via Neem Tree); investment banking services (M&A advisory and capital raising); and alternative investments including a private equity fund and incubator ecosystem. With India's largest equity analyst desk and over 60,000+ crore in assets under advice, the firm delivers in-depth, customized research primarily on Small and Mid-Cap companies to institutional investors, family offices, and corporate clients in the Indian financial markets.

Product overview

Batlivala & Karani Securities operates as an institutional financial services group offering a diversified portfolio of wealth management and capital markets services. The company functions as a unified platform providing equities advisory, research and execution; mutual fund analysis and distribution; strategic consulting; insurance advisory and broking (via Neem Tree Insurance Broking & Advisory); investment banking; and alternative investments including incubator ecosystem and private equity. With over 60,000+ crore in assets under advice, the firm delivers customized research of small and mid-cap companies through India's largest equity analyst team, serving institutional clients, corporations, family offices, and high-net-worth investors across India's financial markets.

Differentiator

Problem solved

Functional benefit

Products and services

• Equities: Advisory, Research & Execution In-depth company and industry equity research with what the firm describes as India's largest equity analyst team, paired with advisory and trade execution for institutional clients investing in Indian financial markets.
• MF: Analysis and Distribution Periodic qualitative and quantitative analysis of the mutual fund industry used by fund managers, combined with AMFI-registered mutual fund distribution.
• Strategic Consulting Advisory services targeting corporate, institutional, and family office clients for financial planning and strategic guidance.
• Insurance: Advisory & Broking Insurance advisory and broking services delivered through the affiliated entity Neem Tree Insurance Broking & Advisory, helping companies achieve cost-effective and comprehensive insurance solutions.
• Investment Banking Investment banking services including mergers and acquisitions advisory, capital raising, and strategic financial transactions for corporate clients.
• Incubator Ecosystem Alternative investment offering providing incubator services for early-stage companies and entrepreneurial ventures as part of the firm's alternative investments portfolio.
• Private Equity Private equity investment services offered as part of the firm's alternative investments portfolio, generating management fees and carried interest.
• Research Reports Comprehensive research coverage spanning Equity (in-depth and independent equity research reports), Economic (Indian economy coverage with macro forecasts), Sectoral (sector monitoring with ground-level checks), Thematic (buy-side and sell-side analysis), Special Reports, and Mutual Funds research.

Quantifiable outcome

• 60,000+ Cr in Assets Under Advice

Named customers2 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

Scale indicators2 records

Recent moves4 records

Expansion highlights3 records

Broad incumbents

• HDFC Securities: Bank-affiliated Indian broker (HDFC group) with institutional and retail equities plus distribution. Overlaps B&K's broking and MF distribution lines, but draws on a much larger banking parent.
• Sharekhan (BNP Paribas subsidiary): Established Indian retail-and-institutional broker with research, wealth, and distribution capabilities. Comparable to B&K's MF distribution and broking lines but skewed more retail; now backed by BNP Paribas.
• Kotak Securities: Large bank-affiliated Indian broker offering institutional equities, research, and wealth management as part of the wider Kotak group. Comparable as an institutional counterparty but with a much broader retail and banking ecosystem.

Direct peers

• JM Financial: Diversified Indian financial services group spanning investment banking, institutional equities, wealth, and alternative investments. Strongly overlaps B&K's IB and institutional brokerage franchises.
• Axis Capital: Investment banking and institutional equities arm of Axis Bank, offering M&A advisory, equity capital markets, and institutional research. Directly comparable to B&K's IB and institutional equities business lines.
• Antique Stock Broking: Indian institutional broking house known for mid/small-cap research and institutional sales. Highly comparable to B&K on research coverage style and institutional client focus.
• ICICI Securities: Leading Indian securities firm offering retail and institutional broking, equity research, investment banking, and wealth management. Closely overlaps B&K in equities, research, and IB; larger in retail but similarly full-stack.
• Emkay Global Financial Services: Mid-tier institutional Indian brokerage with strong mid/small-cap research, institutional sales, and IB. Closely comparable to B&K in client mix (institutional-leaning) and mid-cap research franchise.
• Anand Rathi Financial Services: Full-service Indian financial services firm with broking, wealth management, IB, and MF distribution. Comparable to B&K's diversified product set and family office/HNI focus.
• Motilal Oswal Financial Services: Indian institutional brokerage and wealth management group with deep mid/small-cap research coverage, IB, MF distribution, and PE/asset management. Directly comparable to B&K's full-stack institutional financial services model and mid-cap research positioning.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/_bksec
• Facebookfacebook.com/bksec

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

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 Batlivala & Karani Securities