ANS Financial Services

What ANS Financial Services does

ANS Financial Services (ANSPL) is a Rajkot, Gujarat-headquartered full-service stockbroker and financial services firm, established operationally in 1991 and incorporated as ANS Private Limited in 1999 (CIN: U67120GJ1999PTC035472). The company is family-controlled by the Sheth family, with registered offices in Rajkot and Mumbai and additional branches in Ahmedabad and GIFT City. It provides multi-asset trading access across NSE, BSE, MCX, and NCDEX covering equities, futures and options, commodities, currencies, and ETFs, along with depository services via CDSL/NSDL, mutual fund distribution (AMFI ARN 34971), Margin Trading Facility (MTF) on 1,500+ stocks, Loan Against Shares (LAS), IPO/ASBA processing, and recently introduced PMS and AIF advisory for HNI clients.

The technology stack is a proprietary mobile app suite (ANS Trade for trading, ANS Money for mutual funds, ANSPL BO for backoffice, ANS Connect for sub-broker management) layered on top of third-party trading terminals (Greek, ODIN, XTS Algo, Money Maker) and a WhatsApp BackOffice chatbot. Differentiators include 100% paperless PAN-Aadhaar eKYC onboarding, GTT conditional orders with 364-day validity, Equity SIP systematic investing, live early pay-in, and a multi-leg F&O margin calculator. The firm also markets BSE-listed debentures (10.75% IRR, INE0KH208019) and reports stock broking AUM of ₹3,460+ Cr supported by a 300+ sub-broker/Authorized Person network across 23+ Indian cities, with a White Label/Channel Partner/JV push into NRI and global markets via GIFT City.

ANSPL generates revenue through a mix of brokerage commissions (equity, F&O, commodity, currency), usage-based interest from MTF and LAS lending, mutual fund distribution trails and transaction fees, annual maintenance charges on Demat accounts, PMS/AIF advisory fees, IPO processing fees, and revenue-sharing with sub-brokers. Customer acquisition runs through a hybrid motion: product-led growth via digital onboarding and self-serve apps, sales-led relationship management for HNIs, and channel-led expansion through 300+ sub-brokers plus White Label and Joint Venture partnerships. The firm has no disclosed external investors and operates as a private, family-controlled entity with BSE-listed debentures as its only public capital instrument.

Name

ANS Financial Services

Legal name

ANS Private Limited

Website

https://ansplshares.com

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

1–10 employees

Short description

ANSPL is a Rajkot, India-based full-service SEBI-registered stockbroker and financial services firm offering multi-asset trading across NSE, BSE, MCX, and NCDEX, plus mutual fund distribution, PMS/AIF advisory, MTF/LAS lending, and depository services to retail investors, HNIs, sub-brokers, and NRIs.

Ownership category

akta.pro rank

Product category

Retail Stock Broking

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Portfolio Management and Investment Advice (523940), Investment Banking and Securities Intermediation (523150)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Investment Advice (6282), Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

Multi-Asset Electronic Trading Platforms (FSAFANAH)

akta.pro secondary industries

Full-Service Retail Brokerage & Wealth Platforms (FSAAAAAA), Institutional API Connectivity, OMS/EMS & FIX Gateways (FSADAJAJ)

Keywords

• Stock broking services
• Equity trading platform
• Mutual fund distribution
• Margin trading facility
• Depository services

Headquarters

HQ city

Rajkot, Gujarat

HQ country

India

HQ region

Asia

Offices6 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Equity & F&O Brokerage: Brokerage commissions on equity delivery, intraday, futures and options trades across NSE and BSE. Charges are bespoke/customized per client with rates varying between intraday and delivery trades. Exchange fees, transaction charges, and government taxes apply.
2. Commodity & Currency Trading Brokerage: Brokerage income from commodity futures trading (MCX, NCDEX) and currency derivatives. Levies include CTT for non-agricultural commodity futures.
3. Margin Trading Facility (MTF): Interest income from leveraged margin trading positions where clients borrow funds to trade. MTF available for 1500+ stocks as per exchange regulations.
4. Loan Against Shares (LAS): Lending income from secured loans against pledged securities. Part of the Loans & Funding vertical.
5. Mutual Fund Distribution: Trails and transaction charges from distributing mutual fund products (equity, debt, hybrid, tax-saving ELSS funds, SIPs) via ANS Money platform. AMFI ARN 34971.
6. IPO & ASBA Processing: Processing fees for IPO applications submitted via ASBA/UPI portal and investor services for IPO allotments.
7. Annual Maintenance Charges (AMC): Annual maintenance charges for Demat accounts and backoffice services. Free AMC for first year for new accounts.
8. Debenture Investments: Distribution of BSE-listed ANS debentures (INE0KH208019, 10.75% IRR, BBB-rated) generating listing fees and investment advisory income.
9. PMS & AIF Advisory: Portfolio Management Services and Alternative Investment Fund advisory generating 12-20% returns for elite clients.
10. Sub-Broker & AP Revenue Share: Revenue sharing arrangements with 300+ sub-brokers and Authorized Persons who generate brokerage across 23+ cities.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels7 records

Core offering

ANSPL operates a full-service stock broking and investment platform that delivers multi-asset trading (equities, futures and options, commodities, currencies, ETFs) across NSE, BSE, MCX, and NCDEX alongside mutual fund distribution, margin trading facility, loan against shares, PMS/AIF advisory, and depository services. Clients transact through proprietary mobile apps (ANS Trade, ANS Money, ANSPL BO, ANS Connect), a WhatsApp BackOffice channel, and third-party terminals (Greek, ODIN, XTS Algo, Money Maker), supported by a 300+ sub-broker network and a zero-account-opening, paperless eKYC onboarding flow.

Product overview

ANSPL operates as a full-service stockbroking and financial services platform offering integrated trading, investment, and backoffice solutions. The core product ecosystem consists of mobile applications: ANS Trade (trading across equities, F&O, commodities, currencies, ETFs), ANS Money (mutual fund investment and portfolio management), ANSPL BO (backoffice for records and reporting), and ANS Connect (sub-broker and AP business management). These are complemented by the WhatsApp BackOffice channel for instant access to account information. The platform provides direct market access to NSE, BSE, MCX, and NCDEX for trading equities, derivatives, commodities, and currencies, while depository services are delivered through CDSL and NSDL partnerships. Value-added features include GTT conditional orders, Equity SIP systematic investing, Margin Trading Facility (MTF), Loan Against Shares (LAS), and IPO application services. A suite of financial calculators (SIP, EMI, compound interest, brokerage, margin) supports investment planning. The ecosystem integrates with CAMS and KFintech for mutual fund registry operations, UPI/ASBA for payments, and WhatsApp for customer support.

Differentiator

Problem solved

Functional benefit

Brands

• ANS Trade: One-stop trading platform for Equities, Futures & Options, Currency, Commodities, ETFs with MTF access
• ANS Money
• ANSPL BO
• ANS Connect

Products and services

• ANS Trade Mobile App One-stop mobile trading platform for equities, futures and options, currency, commodities, and ETFs with MTF access, bond and SGB investments, advanced trading tools, and real-time execution across NSE, BSE, MCX, and NCDEX.
• ANS Money Mobile App Mutual fund and investment companion app for tracking investments across asset classes, executing MF transactions online, managing family investments, with event reminders and financial calculators.
• ANSPL BO (BackOffice) Mobile App All-in-one backoffice app for accessing ledgers, holdings, margins, contract notes, and payout requests with real-time updates for trading and demat clients.
• ANS Connect Mobile App Business tool for Authorized Persons (APs) and sub-brokers to manage clients, track commissions, onboard new clients, and access real-time business insights across the partner network.
• WhatsApp BackOffice No-app, no-login WhatsApp-based backoffice access to account balance, ledger, contract notes, portfolio holdings, NSDL/CDSL holdings, derivative positions, pledge management, tax reports, and downloadable forms.
• Equity & Derivative Broking Full-service equity, futures and options, currency, commodity, and ETF broking across NSE, BSE, MCX, and NCDEX with bespoke brokerage rates, exchange-mandated charges, and access via proprietary apps and third-party terminals.
• Algo Trading Services Algorithmic trading services delivered through Greek, ODIN, XTS Algo, and Money Maker platforms for automated, data-driven execution strategies targeting professional and active traders.
• Mutual Fund Distribution AMFI-registered mutual fund distribution (ARN 34971) across equity, debt, hybrid, and tax-saving ELSS funds, with SIP, lump sum, and Demat-mode investing executed through the ANS Money app and Investwell platform.
• Bonds & Debentures Distribution Distribution of bonds and BSE-listed ANS Debentures (10.75% IRR, BBB-rated, ISIN INE0KH208019), plus Sovereign Gold Bonds, for retail and HNI investors seeking fixed-income exposure.
• Portfolio Management Services (PMS) Discretionary Portfolio Management Services for HNI clients under SEBI Research Analyst registration (INH000012421), targeting 12-20% returns through personalized strategies.
• Alternative Investment Fund (AIF) Advisory Advisory and distribution access to Alternative Investment Funds for elite and HNI investors, complementing PMS within the wealth management vertical.
• Margin Trading Facility (MTF) Leveraged margin trading facility allowing clients to purchase stocks by paying a fraction of value while borrowing the remainder from ANSPL, available for 1500+ stocks as per exchange regulations.
• Loan Against Shares (LAS) Secured lending product allowing clients to borrow funds against pledged demat holdings as collateral, generating interest income within the Loans & Funding vertical.
• Depository Services Electronic securities holding and settlement services through CDSL Depository Participant (IN-DP-121-2015) for equities, mutual funds, bonds, ETFs, and SGBs, with first-year AMC waived.
• IPO Application & ASBA Services Dedicated IPO application portal for discovering and applying to ongoing and upcoming IPOs via UPI/ASBA, with real-time IPO status updates, allotment confirmation, and WhatsApp BackOffice integration.
• Security Lending & Borrowing (SLBM) Securities lending and borrowing service allowing clients to lend held securities to borrowers and earn returns, executed through the SLBM framework.
• eKYC Account Opening Platform Digital account opening platform enabling PAN/Aadhaar-based KYC with e-sign functionality to open trading and demat accounts in minutes, with zero account opening charges.

Quantifiable outcome

• ₹3460+ Cr Stock Broking AUM
• +7 more outcomes

Named customers2 records

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

Feature11 records

Partnerships

Nine partnerships are on record, tiered core and strategic.

• NSE (National Stock Exchange)coreTechnology or IntegrationSEBI-registered stockbroker with NSE membership (INZ000196431) for Cash Market (CM) and F&O segments. NSE is the primary exchange for equity and derivatives trading with NSE CM and NSE F&O memberships.
• BSE (Bombay Stock Exchange)coreTechnology or IntegrationSEBI-registered stockbroker with BSE membership (INZ000196431) for Cash Market, F&O, and Currency Derivative segments. BSE-listed company with issued debentures (BSE Script Code 0APL26).
• MCX (Multi Commodity Exchange of India)coreTechnology or IntegrationSEBI-registered stockbroker with MCX membership for commodity futures trading (INZ000196431). Enables trading in non-agricultural commodities with CTT applicable.
• NCDEX (National Commodity & Derivatives Exchange)coreTechnology or IntegrationNCDEX membership through Ajay Natavarlal Commodities Pvt Ltd (NCDEX: INZ000091531) for agricultural commodity futures trading.
• CDSL (Central Depository Services Limited)coreTechnology or IntegrationCDSL depository participant (DP ID: IN-DP-121-2015, CDSL: IN-DP-121-2015) for demat account services. Provides electronic holding of securities, faster settlements, and CDSL E-Voting services.
• AMFI (Association of Mutual Funds in India)coreChannel Partner/ Reseller/ DistributorAMFI ARN 34971 enables distribution of mutual fund products across all asset management companies. Supports SIP, lump sum, and Demat mode mutual fund investments.
• SEBI (Securities and Exchange Board of India)coreOthersSEBI-registered stockbroker (INZ000196431) and SEBI Research Analyst (INH000012421). Subject to SEBI regulations for all trading, investment, and investor protection activities.
• RBI (Reserve Bank of India)coreOthersRegulatory oversight for NRI investment guidelines and NBFC lending operations (MTF/Margin Trading Facility and LAS/Loan Against Shares).
• GIFT City (Gujarat International Finance Tec-City)strategicStrategic or Co-development PartnerGIFT City compliance enables NRI wealth desk services, DTAA tax benefits, and regulatory advantages for international investor access to Indian markets. ANS has dedicated GIFT City presence with Dealer and Sales positions.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Upstox: Tech-first Indian discount broker offering equities, F&O, commodities, and mutual funds. Comparable to ANSPL on multi-asset coverage and digital-first onboarding, with stronger brand reach.
• Angel One: Formerly Angel Broking, a full-service discount broker with multi-asset trading, mutual fund distribution, and sub-broker network. Highly comparable to ANSPL's blended full-service and digital offering, including IPO/MTF and lending.
• Sharekhan: Full-service Indian broker with a large sub-broker/AP network, multi-asset trading, and PMS/advisory offerings. Closest structural analog to ANSPL's sub-broker driven, full-service brokerage model.
• Groww: Leading Indian retail broker-dealer with strong digital onboarding, mutual fund distribution, and equities/F&O trading. Competes directly for ANSPL's retail and entry-level investor segment.
• Zerodha: India's largest discount stockbroker offering zero-commission equity delivery and low-cost F&O trading across NSE/BSE/MCX. Direct competitor to ANSPL for retail trading volumes, with a substantially larger technology and brand footprint.
• 5paisa: Discount broker offering equities, derivatives, commodities, mutual funds, and insurance with digital onboarding. Competes directly with ANSPL for cost-sensitive retail traders and investors.

Broad incumbents

• ICICI Securities: Bank-affiliated (ICICI Group) full-service broker with institutional research, IPO distribution, and PMS/AIF. Competes with ANSPL across retail brokerage, advisory, and NRI/HNI segments but with deeper capital and brand.
• Kotak Securities: Kotak Mahindra Group's full-service broker providing equities, derivatives, currency, commodities, and mutual funds. Comparable full-service model targeting retail and HNI investors.
• Motilal Oswal Financial Services: Full-service Indian broker with strong PMS, AIF, and wealth management franchise alongside retail broking. Comparable to ANSPL's premium-advisory/PMS/AIF thrust and multi-channel distribution.
• HDFC Securities: HDFC Group's full-service brokerage arm offering equities, derivatives, mutual funds, IPOs, and NRI services. Overlaps with ANSPL's HNI/retail offerings and NRI Wealth Desk, with broader product portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/ans-financial-services

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 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 ANS Financial Services