Saurashtra Kutch Stock Exchange Ltd (SKSE)

What Saurashtra Kutch Stock Exchange Ltd (SKSE) does

SKSE Securities Limited (CIN U67110GJ2000PLC037264) is a SEBI-registered retail stock broker and depository participant headquartered in Rajkot, Gujarat, India, operating with a disclosed headcount of 11 employees from a single registered office. The firm holds trading memberships on NSE, BSE, MCX, and NCDEX (SEBI reg. INZ000293432) and depository participant status with CDSL (IN-DP-CDSL-156-2015) and NSDL, and it engages in both client and proprietary trading as disclosed on its corporate site. Its customer base is entirely retail, serving individual investors in Indian securities markets.

The product portfolio is organized around three layers: (1) execution across cash equities, derivatives (futures and options on indices and stocks), commodities (including BullDex options on MCX), currency derivatives, mutual funds, IPOs (via the eIPO ASBA platform with UPI support), SLB, and demat custodial services; (2) proprietary trading platforms including TradeNet, TradeNetX, CrossNet, TradeWeb mobile, TradeFlyer Connect, SKSEBO backoffice, and three KYC portals (EKYC, RM-EKYC, RE-KYC), supported by an India INX Global Access channel for international markets; and (3) investment advisory through the AlphaNest strategic partnership with Narnolia, plus infrastructure services such as eMandate registration and Electronic Cash Management Services (eCMS). The technology stack is conventional retail-brokerage tooling — no AI/ML components, no public APIs, and platform integrations are limited to Razorpay (payment gateway) and NPCI UPI rails.

The firm operates a direct-to-consumer, transaction-fee revenue model that derives from brokerage commissions across NSE/BSE/MCX, mutual fund and IPO distribution fees, and recurring demat custodial charges, executed through proprietary digital channels and a branch/authorized-person network. Pricing is not publicly disclosed and is structured on a pay-as-you-go basis at standard market brokerage rates. Distribution relies on self-serve web and mobile channels rather than enterprise sales motions, and there are no signs of external funding, institutional investors, or public market listing.

Name

Saurashtra Kutch Stock Exchange Ltd (SKSE)

Legal name

SKSE Securities Limited

Website

https://sksesl.com

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

SKSE Securities Limited is a SEBI-registered retail stock broker and depository participant in Rajkot, India, offering equities, derivatives, commodities, currency, mutual funds, IPOs, SLB, and demat services across NSE, BSE, MCX, and NCDEX to individual investors through proprietary trading platforms and a branch network.

Ownership category

akta.pro rank

Headquarters

HQ city

Rajkot

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Brokerage Services: Commission-based brokerage charges for equity, derivatives, commodity, and currency trading executed on NSE, BSE, and MCX exchanges
2. Demat Account Services: Custodial services for securities held in dematerialized form through CDSL
3. IPO Distribution: Facilitation of IPO applications through ASBA process with UPI payment support
4. Mutual Fund Distribution: Distribution of mutual fund schemes with advisory portfolio services through Narnolia partnership

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

SKSE Securities Limited is a SEBI-registered stock broker and Depository Participant that provides retail investors with trading in equities, derivatives, commodities, currency, mutual funds, IPO subscriptions, and stock lending and borrowing (SLB) across NSE, BSE, MCX, and NCDEX. It also offers demat account custodial services through CDSL and NSDL, delivers access via proprietary web and mobile trading platforms, and provides investment advisory portfolios through its Narnolia (AlphaNest) partnership.

Product overview

SKSE Securities Limited is a SEBI-registered stock brokerage and Depository Participant offering a comprehensive trading and investment platform. The company provides equities, derivatives, commodities, currency, mutual funds, IPO subscriptions, SLB, and demat services across NSE, BSE, and MCX exchanges. The product portfolio is organized around multiple trading platforms (TradeNet, TradeNetX, TradeWeb, CrossNet, eIPO, SKSEBO) for different client segments and use cases, complemented by KYC services (EKYC, RM-EKYC, RE-KYC), payment services (eMandate, eCMS), and investment advisory through the AlphaNest partnership with Narnolia. The company serves both retail clients doing proprietary and client trading through branch networks and authorized persons.

Differentiator

Problem solved

Functional benefit

Brands

• TradenetX: Trading platform provided by SKSE Securities
• Tradenet
• CrossNet
• TradeWeb
• SKSEBO
• AlphaNest

Products and services

• Equity Trading Buy and sell equities (stocks) on the NSE and BSE exchanges for retail investors through SKSE's trading platforms.
• Derivatives Trading Futures and options trading on equity indices and individual stocks through NSE and BSE for retail and active traders.
• Commodity Trading

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

Integration4 records

Feature6 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• NSE (National Stock Exchange of India)coreTechnology or IntegrationTrading member of NSE for equity, derivatives, and currency segments. Provides clients access to NSE trading facilities under registration INZ000293432.
• BSE (Bombay Stock Exchange)coreTechnology or IntegrationTrading member of BSE for equity and derivatives segments. Provides clients access to BSE trading facilities under registration INZ000293432.
• MCX (Multi Commodity Exchange)coreTechnology or IntegrationTrading member of MCX for commodity trading. Provides clients access to commodity markets under registration INZ000293432.
• CDSL (Central Depository Services Limited)coreTechnology or IntegrationDepository participant for dematerialization and rematerialization of securities under DP ID IN-DP-CDSL-156-2015.
• NSDL (National Securities Depository Limited)coreTechnology or IntegrationDepository participant for dematerialization services providing secondary market depository access.
• NarnoliacoreStrategic or Co-development PartnerStrategic partnership for investment advisory portfolios branded as AlphaNest. SKSE clients access Narnolia's advisory services through skse.narnolia.in platform for equity portfolio management.
• India INX Global AccessminorChannel Partner/ Reseller/ DistributorPartnership with India International Exchange (IFSC) for providing access to global investment opportunities through India INX Global Access platform.
• Accord Fintech Pvt LtdminorImplementation/ SI/ Consulting PartnerWebsite design and development partner responsible for the SKSE Securities website (sksesl.com) and trading platform interfaces.

Scale indicators2 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Zerodha: Largest Indian discount broker offering zero-equity-brokerage trading across NSE/BSE/MCX with proprietary technology platforms (Kite). Direct competitor for retail order flow despite the materially different pricing model.
• Groww: Fast-growing Indian discount broker offering equities, derivatives, mutual funds, and IPOs through a mobile-first platform. Competes for the same retail investor wallet as SKSE with a younger, tech-driven customer base.
• Motilal Oswal Financial Services: Full-service Indian broker with retail brokerage, research-driven advisory, and PMS offerings across NSE/BSE/MCX. Comparable in offering investment advisory alongside core brokerage.
• IIFL Securities: Diversified Indian broker-dealer offering equities, derivatives, commodities, currency, mutual funds, and advisory. Comparable multi-product retail brokerage plus value-added services.
• Sharekhan: Full-service retail broker with NSE/BSE/MCX memberships and a strong branch-based acquisition model in Tier-2/Tier-3 cities — directly comparable regional-retail profile to SKSE.
• Angel One: India-listed full-service and discount broker offering equities, derivatives, commodities, mutual funds, IPOs, and demat across NSE/BSE/MCX. Closely comparable business model to SKSE with similar product breadth and retail focus.

Broad incumbents

• Kotak Securities: Bank-affiliated broker-dealer offering equities, derivatives, currency, commodities, mutual funds, and IPO distribution. Comparable product set but with bank parent distribution and balance sheet.
• HDFC Securities: Bank-backed broker offering equities, derivatives, commodities, mutual funds, IPOs, and demat across Indian exchanges. Operates in the same space as SKSE but at significantly larger scale and with bank-distribution advantages.
• ICICI Direct: Bank-backed retail brokerage arm of ICICI Securities with broad product offerings including equities, derivatives, mutual funds, IPOs, and demat. Comparable product breadth but vastly larger scale and balance sheet.

Others

• Narnolia Financial Services: Indian financial services firm providing equity research and PMS; SKSE's AlphaNest advisory is built on Narnolia's capabilities. Adjacent ecosystem participant and channel partner rather than direct retail competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/saurashtra-kutch-stock-exchange-ltd-skse-

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 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 Saurashtra Kutch Stock Exchange Ltd (SKSE)