What Tejas Consultancy does

Tejas Investor Services (doing business as Tejas Consultancy) is a family-owned financial services distribution agency headquartered in Mumbai, India, founded in 1980 by Deepak Sheth and Kalpana Sheth. The firm operates as an AMFI-registered mutual fund distributor, IRDA-registered insurance agent, and National Savings Institute-licensed small savings agent, serving middle-class families and individuals seeking financial planning, investment, and insurance products. The 5-person team (four Sheth family members plus one additional staff) collectively manages over INR 1,011 Cr in Assets Under Advisory for more than 18,031 clients across mutual funds, life and general insurance, company fixed deposits, post office small savings schemes, government bonds, and the National Pension System.

The business runs on a commission-based distribution model with no separate advisory fees. Revenue is generated through trailing commissions on regular mutual fund plans (disclosed at the time of investment per regulatory requirements), upfront and renewal commissions on insurance products (ICICI Prudential, LIC, Bajaj Allianz), referral fees on post office small savings schemes, and small savings agent commissions. The technology stack is modest: a custom website with embedded product purchase links, a client portal for portfolio tracking and e-CAS access, a white-labeled MyFundGuide mobile app, and integrations with KYC Registration Agencies (CAMS KRA, CVL KRA, NDML KRA, KARVY), Registrar and Transfer Agents (CAMS, KFintech), and Digilocker for identity verification. Data security is supported by 256-bit encryption and top-tier hosting providers.

The go-to-market is primarily relationship-driven sales, leveraging 44+ years of family reputation, word-of-mouth referrals, and personal client relationships built since 1980. The firm serves a single geographic market (Mumbai metropolitan area, with offices in Kandivali East, Malad West, and Malad East) and targets individual retail clients exclusively, with no enterprise or institutional customers. Compared to recent AAUA figures of INR 932 Cr for 16,931 clients, the firm shows incremental AUA growth (~8.5%) and modest client acquisition, consistent with a mature, stable family practice rather than a scaling business.

Name

Tejas Consultancy

Legal name

Tejas Investor Services

Website

https://tejasconsultancy.co.in

Company type

Private

Founded year

1980

Operating status

Operating

Headcount range

1–10 employees

Short description

Tejas Investor Services is a family-owned Mumbai-based financial distribution agency, AMFI-registered, IRDA-registered, and NSI-licensed, serving 18,031+ middle-class retail clients with mutual funds, insurance, fixed deposits, post office savings, and NPS since 1980.

Ownership category

akta.pro rank

Product category

Financial Advisory Services

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Services-Engineering, Accounting, Research, Management (8700)

akta.pro primary industry

Financial Planning–Led RIAs (FSAAACAB)

akta.pro secondary industry

Family Office Trust & Fiduciary Services (FSAEAKAF)

Keywords

• Mutual fund distribution
• Insurance agency services
• Small savings schemes
• Financial product distribution
• Retirement planning services

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Mutual Fund Distribution Commission: As an AMFI-registered mutual fund distributor, Tejas Investor Services earns trailing commissions on regular mutual fund plans sold to clients. The firm discloses commissions at the time of investment per regulatory requirements. Direct plan options are available but the firm does not earn commission on those.
2. Insurance Agency Commission: As an IRDA-registered insurance agent, the firm earns commission on life insurance (ICICI Prudential, LIC) and general insurance (Bajaj Allianz) products sold, including term policies, health plans, and motor insurance.
3. Small Savings & Fixed Deposit Referrals: As a National Savings Institute-licensed agent, the firm earns referral/trail fees on post office small savings schemes (National Savings Certificate, Kisan Vikas Patra, Post Office FDs, etc.) and company/bank fixed deposits.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Tejas Consultancy is a Mumbai-based, family-owned financial services distribution agency that intermediates between individual middle-class clients and providers of mutual funds, life and general insurance, government small savings schemes (post office deposits, NSC, KVP), the National Pension System (NPS), company fixed deposits, and government bonds. The firm earns commissions from product providers rather than charging direct advisory fees, and operates with AMFI mutual fund distributor, IRDA insurance agent, and National Savings Institute registrations.

Product overview

Tejas Investor Services operates as a multi-product financial services distribution platform offering six core product categories: mutual funds distribution, life insurance, general insurance, company fixed deposits, post office small savings schemes, and government bonds. The firm also provides NPS subscription and contribution services. The product portfolio is organized around financial planning advisory services, with specific insurance products including Iprotect Term Policy (ICICI Prudential), Bajaj Allianz Health Guard, and Bajaj Allianz Car Insurance offered through partnerships. The platform leverages integrations with multiple KRA systems (CAMS, CVL, NDML, KARVY), mutual fund RTAs (KFintech, CAMS, and various AMC portals), and digital KYC services (Digilocker) to facilitate client onboarding and ongoing transaction processing. Services are targeted at middle-class families seeking financial freedom, with the firm managing over 1011 Cr AAUA for more than 18,031 clients since 1980.

Differentiator

Problem solved

Functional benefit

Products and services

• Mutual Fund Distribution AMFI-registered distribution of mutual fund schemes from various asset management companies (AMCs) to individual investors, with reporting AAUA of approximately ₹1,011 crore across 18,031 clients.
• Life Insurance Agency
• General Insurance Agency
• Small Savings Schemes
• National Pension System (NPS) Distribution
• Company Fixed Deposits
• Government Bonds

Quantifiable outcome

• Over INR 1011 Cr AAUA managed for 18,031+ clients across multiple product categories
• +2 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration19 records

Feature3 records

Partnerships

Eight partnerships are on record, tiered core.

• Association of Mutual Funds in India (AMFI)coreTechnology or IntegrationTejas Investor Services is an AMFI-registered mutual fund distributor (ARN codes: ARN-18921, ARN-18920, ARN-0209, ARN-10268). AMFI registration is a regulatory prerequisite for distributing mutual fund schemes in India. The firm operates under AMFI guidelines, distributes regular plans only, and earns trailing commissions disclosed at the time of investment.
• IRDA (Insurance Regulatory and Development Authority)coreTechnology or IntegrationTejas Investor Services is an IRDA-registered insurance agent offering life insurance and general insurance products. The firm holds agency codes for LIC (Agent Code: 44189C), ICICI Prudential Life (Agent Code: 00003275), and Bajaj Allianz General Insurance (Agent Code: 10000308).
• National Savings Institute (NSI)coreTechnology or IntegrationTejas Investor Services is a National Savings Institute-licensed small savings agent, authorized to sell post office small savings schemes including National Savings Certificate, Kisan Vikas Patra, Post Office FDs, and Monthly Income Account. Agency codes include DSS/13041, DSS/136, DSS/6579, DSS/9411.
• CAMS (Computer Age Management Services)coreTechnology or IntegrationCAMS serves as a Registrar and Transfer Agent (RTA) for mutual fund folios managed by Tejas Investor Services. The firm provides KYC validation, nomination updation, PAN/PEKRN updation, email/mobile updation, and consolidated account statement (e-CAS) services. The website links to CAMS KRA for KYC compliance and CAMS-managed nominee updation.
• KFintechcoreTechnology or IntegrationKFintech serves as an RTA for mutual fund folios. The website links to KFintech's digital KYC platform, online modify KYC services, nominee updation, PAN updation, NPS subscription, and NPS contribution portals. Tejas Investor Services operates as a POP (Point of Presence) for NPS through KFintech.
• ICICI Prudential Life InsurancecoreChannel Partner/ Reseller/ DistributorTejas Sheth is an IRDA-registered agent (Agent Code: 00003275) for ICICI Prudential Life Insurance since 2004. The firm offers ICICI Prudential term policies (iProtect Smart), NPS subscriptions/contributions, and corporate FD products through this partnership.
• LIC (Life Insurance Corporation of India)coreChannel Partner/ Reseller/ DistributorRitesh Sheth is a LIC life insurance agent (Agent Code: 44189C) since 1995. The firm offers LIC premium payment links and life insurance products through this agency relationship.
• Bajaj Allianz General InsurancecoreChannel Partner/ Reseller/ DistributorRitesh Sheth is a Bajaj Allianz General Insurance agent (Agent Code: 10000308) since 2004. The firm offers Bajaj Allianz Health Guard and Car Insurance products with features including cashless claims within 60 minutes, motor OTS settlement in 20 minutes, and 4,000+ network garages.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Emerging players

• Zerodha (Coin): India's largest stockbroker with Coin, a direct mutual fund investment platform. Comparable mutual fund distribution product, but with a low-cost, no-advisory model that competes with Tejas on direct-plan economics.
• Kuvera: Digital-first direct mutual fund platform offering free goal-based financial planning to Indian retail investors. Comparable in offering financial planning to retail clients, but with a direct (non-commission) model that pressures traditional distributors.
• Groww: India's leading direct mutual fund investment platform with strong retail onboarding. Comparable product category (mutual fund distribution) but competes via a direct-plan model that bypasses traditional distributors like Tejas.
• Paisabazaar: Online multi-product comparison and distribution platform for credit cards, loans, mutual funds, and insurance. Comparable in distributing insurance and investment products online, but with a far larger digital marketing footprint than Tejas.

Broad incumbents

• 360 ONE Wealth (formerly IIFL Wealth): Diversified wealth management firm offering investment advisory, mutual fund distribution, and portfolio management. Comparable as a registered Indian investment advisor and distributor, but with institutional and HNI focus and broader product set.
• Anand Rathi Wealth Services: Listed Indian wealth manager serving HNI and affluent retail clients with mutual fund distribution, financial planning, and PMS. Comparable in offering financial planning-led advisory to retail/HNI clients, though serving a higher net-worth segment than Tejas.
• ICICI Prudential Asset Management: One of India's largest AMCs whose mutual fund schemes Tejas distributes. Comparable as a counterparty in the distribution chain, though ICICI Pru AMC operates upstream as an AMC rather than as a distributor.

Direct peers

• Prudent Corporate Advisory Services: India's largest listed mutual fund distributor and insurance advisor with a pan-India branch network. Highly comparable to Tejas as a multi-product (MF + insurance) retail distribution franchise with AMFI/IRDA registrations, though much larger in scale and listed.
• NJ Wealth (NJ IndiaInvest): Large Indian mutual fund distributor offering research-led advisory services to retail investors via partner network. Comparable business model (AMFI-registered MF distribution with advisory overlay), though NJ operates through a far larger partner/AP structure rather than a single family office.

Others

• CAMS (Computer Age Management Services): India's largest Registrar and Transfer Agent (RTA) for mutual funds, integrated with Tejas for KYC, nominee updates, and e-CAS. Comparable as an ecosystem enabler to Tejas's distribution operations rather than a direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/tejasconsult

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

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 Tejas Consultancy