East India Securities

What East India Securities does

East India Securities Ltd (EISL) is a Kolkata-headquartered, family-owned Indian financial services firm founded in 1995, providing full-service brokerage and advisory across equities, fixed income, commodities, currency, and corporate finance. It serves a dual client base of institutional investors (FIIs, mutual funds, insurance companies, banks, primary dealers, NBFCs, corporate treasuries) and retail/HNI clients, with more than 30,000 active clients and Rs 3,500+ crores in assets under custody. The company is a corporate member of NSE and BSE since 1995, a pioneer Depository Participant with both NSDL and CDSL, an AMFI-registered mutual fund distributor, and operates a wholly-owned subsidiary, East India IFSC Pvt Ltd, in GIFT City for international financial services including bullion trading via IIBX and NSE IFSC.

EISL generates revenue primarily through transaction-based brokerage commissions across asset classes, supplemented by distribution commissions on mutual funds, IPOs, fixed deposits, and insurance products, plus advisory fees for corporate finance services (rating advisory, factoring, debt raising for MSMEs and corporates). The go-to-market is relationship-driven: dedicated relationship managers serve institutional and HNI clients through branch offices in Kolkata and Mumbai and a dedicated FII & NRI desk, while retail clients access services through multiple web-based login portals covering DP-NSDL, DP-CDSL, capital markets, F&O, currency, commodity, and mutual funds. The company's core technology is a C++ proprietary trading platform designed for low-latency multi-threaded execution, integrated with internal CRM, portfolio management, and risk management systems.

The company is led by the Agarwal family, with Mr. Lakshmendra Agarwal (Chartered Accountant, 1970) as Director and Mr. Vivek Agarwal, who was instrumental in founding the securities business and previously served on NSE's Executive Committee, as Director. The firm has initiated a delisting process from BSE (EIS), indicating a strategic intent to operate as a private company. Its market positioning emphasizes research-based fundamental analysis, a "right selling" philosophy, and comprehensive cross-asset service delivery under a single relationship umbrella, differentiating on regulatory breadth and tenure rather than technology leadership.

Name

East India Securities

Legal name

East India Securities Ltd

Website

https://eisec.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

101–250 employees

Short description

East India Securities Ltd is a Kolkata-based, family-owned Indian full-service brokerage founded in 1995, offering equity, fixed income, commodity, currency, and corporate finance services to institutional, HNI, and retail clients across 30,000+ accounts and a GIFT City subsidiary.

Ownership category

akta.pro rank

Product category

Brokerage and Financial Advisory

NAICS

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

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Introducing Broker (IB) (FSAEACAE)

akta.pro secondary industry

Equity Capital Introduction & Prime Services (FSACAFAK)

Keywords

• Equity broking services
• Fixed income advisory
• Commodity trading
• Currency derivatives
• Corporate finance advisory

Headquarters

HQ city

Kolkata

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Equity Broking & Advisory: Brokerage commissions from equity trading on NSE and BSE for institutional and retail clients. The company acts as a corporate member of NSE and BSE providing broking services for the past 17 years.
2. Commodity Broking: Brokerage revenue from commodity futures and options trading through MCX exchange. Commodities offered via subsidiary East India Commodities Pvt Ltd (EICOM) which is a group company.
3. Currency Broking & Advisory: Currency trading and risk mitigation advisory services generating volume-based revenue. Company reported $240.94bn volume in FY 11-12.
4. Fixed Income Broking: Brokerage and advisory services for debt instruments including Government Securities, PSU bonds, Corporate Bonds, Tax-Free Securities, and State Papers for institutional and retail clients.
5. Distribution Revenue: Distribution of financial products including IPOs, Mutual Funds, Fixed Deposits, and Insurance Policies as an AMFI registered advisor (ARN 3263). Earns distribution commissions on product sales.
6. Corporate Finance Advisory: Rating advisory, factoring advisory, and debt raising services for corporate clients including MSME sector. Advisory fees for rating agency liaison and credit rating preparation.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

East India Securities Ltd (EISL) is a Kolkata-based integrated financial services firm offering brokerage and advisory services across multiple asset classes, including equities, fixed income, commodities, currency derivatives, and mutual fund/insurance distribution. The firm also operates a corporate finance desk providing rating advisory, factoring, and debt-raising services, along with depository participant services through NSDL and CDSL. It serves institutional investors, HNIs, retail clients, and corporate clients through branch offices, online trading portals, and dedicated FII/NRI desks.

Product overview

East India Securities offers a comprehensive suite of financial services across multiple segments. The core offerings include Equities (equity broking and advisory with research-driven investment recommendations), Fixed Income (debt market broking and advisory), Commodities (commodity broking and advisory through subsidiary EICOM), Currency (currency broking and advisory), and Corporate Finance (rating advisory, factoring advisory, and debt raising services). The Distribution arm handles IPO distribution, mutual funds, fixed deposits, and insurance products. The company also operates a subsidiary, East India IFSC Pvt Ltd, in GIFT City for international financial services. All services are supported by a Knowledge Center providing research content across equity, commodity, currency, and other financial instruments. The company operates as a corporate member of NSE and BSE, serving institutional investors, corporates, and retail clients with assets under custody exceeding Rs 3500 crores.

Differentiator

Problem solved

Functional benefit

Products and services

• Equities Equity broking and advisory services on NSE and BSE for institutional and retail clients, with research-based fundamental analysis and long-term relationship-focused recommendations.
• Fixed Income

Quantifiable outcome

• 30,000+ active clients with Rs 3500+ crores in assets under custody
• +1 more outcomes

Named customers11 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Ten partnerships are on record, tiered core and supporting.

• MCX (Multi Commodity Exchange Of India Limited)coreChannel Partner/ Reseller/ DistributorEISL has been appointed as Market Maker for options on Gold Mini spot by MCX as per SEBI circular. This enables EISL to provide commodity trading services and creates a framework for conflict-of-interest disclosure.
• NSE IFSC LtdcoreTechnology or IntegrationEast India IFSC Pvt Ltd (subsidiary) is a member of NSE IFSC Ltd with Registration No: IFSC/BD/2022-23/0007, Member Code: 10060, enabling international financial services operations from GIFT City.
• Indian International Bullion Exchange IFSC Limited (IIBX)coreChannel Partner/ Reseller/ DistributorEast India IFSC Pvt Ltd is a member of IIBX with Registration No: TM-CM/2022-23/015, Member Code: 2015, enabling gold and precious metals trading for international clients.
• NSDL (National Securities Depositories Limited)coreTechnology or IntegrationEISL is a Depository Participant of NSDL (Registration: IN-DP-NSDL-33-1997) providing demat account services for securities holding.
• CDSL (Central Depository Services Limited)coreTechnology or IntegrationEISL is a Depository Participant of CDSL (Registration: IN-DP-CDSL-84-2000) providing alternative demat services to clients.
• NSE (National Stock Exchange of India Limited)coreChannel Partner/ Reseller/ DistributorCorporate member of NSE (Cash: INB230813439; F&O: INF230813439; CDX: INE230813439) since 1995, enabling equity and derivative trading.
• BSE (Bombay Stock Exchange Limited)coreChannel Partner/ Reseller/ DistributorCorporate member of BSE (Cash: INB010813435; F&O: INF010813435) enabling additional equity trading access.
• AMFI (Association of Mutual Funds in India)coreChannel Partner/ Reseller/ DistributorAMFI registered advisor with ARN 3263 enabling distribution of mutual fund products to retail and institutional investors.
• East India Commodities Pvt Ltd (EICOM)coreStrategic or Co-development PartnerEICOM is a group company of EISL and member of MCX and NCDEX (FMC Unique membership codes: MCX/TCM/CORP/0053, NCDEX/TCM/CORP/0238). Commodities services are offered through EICOM.
• Rating Agencies (CRISIL, ICRA, CARE)supportingImplementation/ SI/ Consulting PartnerEISL assists corporate clients in obtaining credit ratings from agencies like CRISIL, ICRA, CARE as part of their rating advisory services for BASEL II compliance.

Scale indicators8 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• HDFC Securities: HDFC Group-affiliated broker offering equities, derivatives, mutual funds, and NRI services. Similar full-service product suite but supported by India's largest private-sector banking distribution network.
• Kotak Securities: Subsidiary of Kotak Mahindra Bank offering full-service broking and depository services. Overlaps in equities, derivatives, currency, and distribution but benefits from a much larger parent balance sheet and cross-sell into banking customers.
• IIFL Securities: Large Indian listed broker offering equities, derivatives, currency, commodities, mutual funds, and investment banking. Overlaps with EISL across nearly every product line but operates at materially greater scale and with broader institutional coverage.
• ICICI Securities: ICICI Group's listed broking and investment banking arm with leading institutional equities and IPO distribution franchises. Direct overlap in distribution, institutional broking, and advisory, but at meaningfully larger scale and digital reach.
• Motilal Oswal Financial Services: Diversified Indian financial services group with strong institutional equities and investment banking franchises plus retail broking. Comparable in research-driven institutional focus, but with substantially larger AUM, IBD, and asset-management businesses.

Emerging players

• Angel One: Tech-first Indian discount-to-full-service broker pivoting toward digital advisory and mutual fund distribution. Comparable in multi-asset coverage and Indian retail focus, but differentiated by digital-first delivery that threatens EISL's traditional branch-and-relationship model.

Direct peers

• Geojit Financial Services: Kerala-headquartered Indian full-service broker offering equities, derivatives, mutual funds, and portfolio management with multi-branch distribution. Comparable in product breadth and relationship-led advisory model targeting retail and institutional clients.
• Sharekhan: BNP Paribas-owned Indian retail-focused full-service broker with multi-asset offerings, branch distribution, and research-led advisory. Comparable in retail-broker focus and traditional relationship-led service model.
• Anand Rathi Financial Services: Mumbai-based full-service financial services firm spanning broking, wealth management, investment banking, and NBFC offerings. Directly comparable multi-product, research-driven Indian brokerage serving HNI and institutional segments.
• SMC Global Securities: Delhi-based Indian full-service broker offering equities, commodities, currency, mutual funds, and depository services with similar mid-tier institutional and retail footprint. Closest comparable in scale, multi-asset offering, and full-service distribution model.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/EislCo
• Facebookfacebook.com/EISLCo
• LinkedInlinkedin.com/company/east-india-securities

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

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 East India Securities