SKI Capital Services Limited

What SKI Capital Services Limited does

SKI Capital Services Limited is a New Delhi-based, privately held Indian financial services and stock broking firm founded in 1991 (35+ years of operations). The company operates a multi-license platform spanning retail brokerage, merchant banking, depository participant services, and registrar & transfer agent (RTA) functions, holding registrations with SEBI (Category I Merchant Banker INM000012768, Category I RTA INR000004237, DP IN-DP-08-2015), NSE/BSE/MCX trading membership (INZ000188835), IRDA (CA0490), and AMFI (ARN-118937). Its core technology asset is the Forte trading platform — a mobile and web-based application supporting equity, derivatives, commodities, forex, mutual fund, and IPO trading — supplemented by the IPOTree IPO bidding tool and a browser-based trading interface. SKI also runs the SEBI-mandated risk disclosures for derivatives on its website and maintains ISO 9001:2015 and ISO 27001 certifications.

The company serves a diversified customer base of 30,000+ clients including retail individual investors, corporate clients requiring fundraising and compliance support, and Qualified Institutional Buyers (QIBs) participating in IPOs and institutional trading. Its GTM is hybrid: direct digital channels (website, Forte app) for self-serve retail, a sub-broker and Authorized Person network of 250+ partners across India for franchise-driven distribution, and direct corporate relationship management for merchant banking, debt syndication, escrow, and RTA engagements. The firm reports ₹5,000+ Crores of assets under custody and a team of 50+ finance professionals.

Revenue is generated across multiple streams: transaction-fee brokerage on equity, derivatives, and commodities; transaction fees and trail commissions on mutual fund distribution; affiliate fees from insurance distribution; professional services fees for merchant banking mandates (e.g., Sole Book Running Lead Manager for Axiom Gas Engineering's Rs 40-45 crore NSE Emerge IPO, Dec 2025); and RTA service fees. Pricing is largely quote-based and not publicly disclosed, with the exception of retail mutual fund SIPs starting at Rs 500. The company has not disclosed funding rounds since a 2009 event, is not publicly traded, and shows no evidence of institutional ownership.

Name

SKI Capital Services Limited

Legal name

SKI Capital Services Limited

Website

https://skicapital.net

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

51–100 employees

Short description

SKI Capital Services Limited is a privately held, multi-license Indian financial services firm (founded 1991) offering retail brokerage, merchant banking, RTA, and depository services to 30,000+ retail, corporate, and institutional clients via its Forte trading platform and 250+ partner network.

Ownership category

akta.pro rank

Product category

Retail Brokerage and Financial Services

NAICS

Investment Banking and Securities Intermediation (52315), Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Full-Service Brokerage (Wirehouse/Universal) (FSAEACAA)

akta.pro secondary industries

Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL), Full-Service Retail Brokerage & Wealth Platforms (FSAAAAAA)

Keywords

• Stock broking services
• Merchant banking services
• Derivatives trading
• Mutual fund distribution
• Commodity trading

Headquarters

HQ city

New Delhi

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, Others

Revenue model

1. Equity and Derivatives Brokerage: Brokerage revenue from equity trading, futures, and options trading on NSE and BSE through their trading platform
2. Commodities Trading: Brokerage from commodity trading on MCX including metals, energy, and agricultural commodities
3. Mutual Fund Distribution: Revenue from facilitating mutual fund investments including lump sum, SIPs, redemptions, and fund switches with SIPs starting at Rs 500
4. Merchant Banking Services: As SEBI-registered Category I Merchant Banker, providing IPO management, fundraising, and compliance services. Acted as Sole Book Running Lead Manager for Axiom Gas Engineering IPO
5. RTA Services: Registrar and Transfer Agent services as SEBI-registered Category I RTA for seamless shareholder interactions and issue management
6. Insurance Distribution: Distribution of life and general insurance products through their platform
7. Fixed Income/Bonds: Bond and debt security placements across various investor segments including corporate debt and government securities

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

SKI Capital Services Limited is a SEBI-registered stock broking and financial services company offering equity, derivatives, and commodity trading through its Forte mobile/web trading platform, along with mutual fund distribution, insurance products, and fixed-income placements. For institutional and corporate clients, it provides Category I Merchant Banking services (IPO management, debt syndication, escrow) and Category I Registrar and Transfer Agent (RTA) services.

Product overview

SKI Capital Services Limited operates as a comprehensive financial services and stockbroking firm offering an integrated platform-plus-modules architecture. The core offering centers around the Forte by SKI mobile trading application, which provides unified access to equity, derivatives, commodities, forex, and mutual fund trading with integrated back-office functionality. Supporting the mobile platform are web-based trading interfaces, the IPOTree IPO bidding tool, and a paperless trading account system. For institutional and corporate clients, the company provides merchant banking (Category I), RTA services (Category I), escrow services, and debt syndication capabilities. The product portfolio includes equity trading, fixed income/bonds, derivatives, commodities, mutual funds, insurance products, and IPO services—all accessible through the unified Forte platform with separate web and mobile interfaces.

Differentiator

Problem solved

Functional benefit

Brands

• Forte: SKI Capital's cutting-edge trading platform for mobile and web, enabling trade in stocks, options, futures, commodities, and forex with integrated back-office and payment gateway.
• IPOTree

Products and services

• Forte by SKI Trading Platform All-in-one mobile and web trading platform enabling users to invest, track, manage, and trade in stocks, options, futures, commodities, forex, and mutual funds with real-time quotes, screeners, charting, integrated back-office, payment gateway, and in-app calling capability during trade hours. Targeted at retail investors in India.
• Equity Trading Seamless stock trading on NSE and BSE with paperless account opening, live market research, and smooth order execution for new and experienced investors.
• Derivatives Trading Access to equity derivative instruments (futures and options) on NSE with expert advisory for income generation, risk management, or market speculation.
• Commodities Trading Trading on MCX in metals, energy, and agricultural commodities for price discovery, hedging, and profit opportunities.
• Fixed Income / Bonds End-to-end bond and debt security placements across investor segments including corporate debt and government securities, tailored to specific financial goals.
• Mutual Funds Platform Online mutual fund platform supporting lump sum investments, redemptions, fund switches, and SIPs starting as low as Rs 500, distributed under AMFI ARN-118937.
• Insurance Products Range of life and general insurance products distributed under IRDA registration (CA0490) to protect families and businesses with comprehensive coverage options.
• IPOTree IPO Bidding Tool Free IPO bidding tool allowing users to apply for ongoing IPOs by logging in with mobile number and placing bids quickly and securely.
• Depository Participant (DP) Services

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Six partnerships are on record, tiered core.

• NSE (National Stock Exchange)coreOthersNSE registration (INZ000188835) for equity and derivative trading. SKI offers trading access to NSE markets including futures, options, and cash segment.
• BSE (Bombay Stock Exchange)coreOthersBSE registration for equity trading and corporate actions. Stock listing and trading services.
• MCX (Multi Commodity Exchange)coreOthersMCX registration for commodity trading including metals, energy, and agricultural commodities.
• NSDL (National Securities Depository Limited)coreOthersNSDL registration for depository participant services including dematerialisation, account transfers, pledging, and securities lending.
• AMFI (Association of Mutual Funds in India)coreOthersAMFI ARN-118937 for mutual fund distribution services.
• IRDAcoreOthersIRDA registration (CA0490) for insurance distribution services.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Sharekhan (BNP Paribas Securities India): Established Indian full-service retail broker offering equity, derivatives, commodities, and mutual funds via its own trading platform (Trade Tiger/Sharekhan App) plus a large sub-broker/partner network — directly comparable business model and regulatory stack to SKI.
• Motilal Oswal Financial Services: Full-service Indian broker-dealer with retail broking, investment banking (IPO lead management), mutual fund distribution, and wealth management — overlaps SKI across nearly every product line and regulatory registration.
• IIFL Securities: Listed Indian securities firm providing broking, investment banking, merchant banking, and depository services; competes with SKI in the mid-tier full-service segment on both retail broking and SME/corporate mandates.
• Anand Rathi Financial Services: Full-service Indian broker with retail broking, investment banking (IPO/book-running), wealth management, and mutual funds — directly comparable diversified product platform to SKI.
• SMC Global Securities: Mid-tier Indian full-service broker offering equity, derivatives, commodities, mutual funds, insurance, and depository services — closest in scale, product breadth, and sub-broker-led distribution to SKI.
• Choice International (Choice Broking): Indian mid-tier financial services firm with broking, merchant banking, RTA, and mutual fund distribution — comparable in scale and product mix to SKI in the SME/full-service broker peer group.

Emerging players

• Angel One (formerly Angel Broking): Tech-first Indian broker with a mobile-led offering in equity, derivatives, commodities, and mutual funds — represents the discount/tech-led direction SKI competes against; relevant for benchmarking pricing pressure.
• Zerodha (Rainmatter): Largest Indian discount broker; serves retail traders on equity/derivatives with flat-fee pricing — not a direct full-service competitor but the dominant threat to SKI's retail brokerage economics.

Broad incumbents

• ICICI Securities (ICICIdirect): Bank-affiliated full-service broker with 3-in-1 accounts, investment banking, and a large distribution network — establishes the scaled-incumbent benchmark SKI is positioned against in retail broking and IPO mandates.
• HDFC Securities: Bank-affiliated Indian retail broker offering equity, derivatives, IPO, and mutual fund distribution — overlaps SKI on retail brokerage with the structural advantage of a tied bank-account relationship.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xtwitter.com/skicapitalltd
• Facebookfacebook.com/skicapital
• LinkedInlinkedin.com/company/skicap

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors

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

M&A

Investments

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

Frequently asked questions about SKI Capital Services Limited