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ajmera x-change

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uuid02mj74g

Namestring
ajmera x-change
Legal namestring
Ajmera Associates Ltd.
Websiteurl
ajmeraxchange.co.in
Company typeenum
Private
Founded yearint
1988
Descriptiontext

Ajmera X-change is the trading brand of Ajmera Associates Ltd., a Mumbai-based, privately-held full-service securities broker and financial services intermediary operating in India since 1988. The company is registered with SEBI as a stock broker (INZ000177531) and depository participant (IN-DP-715-2022), and holds clearing memberships on BSE, NSE, MCX, and MSEIL, as well as a CDSL depository participant agreement (DP ID 30300). Its core offering spans equity and derivatives broking, commodity broking, currency derivatives trading, demat account services, mutual fund distribution, portfolio management services (PMS), bonds distribution, margin trading financing (MTF), and IPO/OFS subscriptions, with an additional cross-border investment product called Ajmera Globex.

The technology stack is centered on the Ajmera x-change iTRADE mobile application (available on iOS and Android) and a web-based trading platform, which the company markets as India's first "knowledge-based analytical" trading platform. Onboarding is paperless through a dedicated e-KYC portal supporting retail, joint, NRI, and corporate accounts. The company is ISO 9001:2015 and ISO/IEC 27001:2013 certified, and supports ten Indian languages across its website to broaden reach. Distribution is hybrid: 42 physical branch offices across India provide relationship-driven advisory and servicing, while digital self-serve channels handle execution and account opening.

The business model is multi-stream, combining transaction-based brokerage commissions (equities, commodities, currencies), depository transaction fees, recurring advisory and PMS fees, distribution trails from mutual fund and bond partners, and interest income from margin financing. Customer segments span retail individual investors (primary), HNW/UHNW individuals, and corporate clients using the platform for treasury and hedging. The company is closely held, with no disclosed external institutional investors; Ashish Ajmera serves as CEO, Whole Time Director, and Compliance Officer.

Short descriptiontext

Ajmera X-change (Ajmera Associates Ltd.) is a Mumbai-based, SEBI-registered full-service Indian broker offering equity, commodity, and currency trading, depository, mutual fund distribution, PMS, and margin financing to retail, HNI, and corporate clients across India via 42 branch offices and a mobile trading app.

Operating statusenum
Operating
Ownership categoryenum
akta.pro rankint
HeadquartersMumbai, India
HQ citystring
Mumbai
HQ countrystring
India
HQ regionstring
Asia
Markets served

Serves global market

Offices1 record

Each record includes

City, Country, Type, Description, Source

Keyword5 values
equity brokerage services, commodity trading platform, depository participant services, mutual fund distribution, portfolio management services
Industry3 codes
1Independent Broker-Dealers (Retail Network)
CodeFSAAAAACPrimaryYes
2IPO & New Issue Issuer Services (Listing/ISIN setup)
CodeFSACAKAHPrimaryNo
3Alternatives & Multi-Asset Digital Wealth Platforms (PE/VC/Real Assets access)
CodeFSAGAEALPrimaryNo
NAICS code3 codes
  • Investment Banking and Securities Intermediation523150
  • Securities, Commodity Contracts, and Other Financial Investments and Related Activities523
  • Portfolio Management and Investment Advice523940
SIC code3 codes
  • Security Brokers, Dealers & Flotation Companies6211
  • Security & Commodity Brokers, Dealers, Exchanges & Services6200
  • Investment Advice6282
Product category
Retail Brokerage / Investment Services
Social media profiles2 records
GTM motion1 record

Each record includes

Type, Description, Source

Revenue model9 records
1Equity Broking
TypeTransaction Fee
Description

Brokerage commissions charged on equity and derivatives (F&O) trading on BSE and NSE exchanges

ajmeraxchange.co.in
2Commodity Broking
TypeTransaction Fee
Description

Brokerage commissions on commodity futures and options trading on MCX exchange

ajmeraxchange.co.in
3Currency Trading
TypeTransaction Fee
Description

Brokerage revenue from currency derivatives trading on NSE, BSE, and Metropolitan Exchange

ajmeraxchange.co.in
4Depository Services
TypeTransaction Fee
Description

Charges for demat account services as a CDSL depository participant

ajmeraxchange.co.in
5Mutual Fund Distribution
TypeAffiliate Referral
Description

Commission revenue from distributing mutual fund products from various asset management companies

ajmeraxchange.co.in
6Portfolio Management Services
TypeSubscription Recurring
Description

Fees for managing client investment portfolios including PMS offerings

ajmeraxchange.co.in
7Investment Advisory
TypeSubscription Recurring
Description

Advisory fees for providing investment recommendations and financial planning services

ajmeraxchange.co.in
8Margin Financing (MTF)
TypeManaged Services
Description

Interest income from providing margin funding to clients for leveraged trading positions

ajmeraxchange.co.in
9Bonds Distribution
TypeAffiliate Referral
Description

Revenue from distributing debt instruments and bonds to clients

ajmeraxchange.co.in
Marketing channels5 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels4 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components5 values
Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales
GTM typeB2C
B2C
Offering typeServices
Services
Core offering1 text field

Ajmera x-change operates as a full-service stockbroker and investment platform offering equity, commodity, and currency broking across BSE, NSE, MCX, and MSEIL; CDSL depository services for demat accounts; mutual fund distribution with SIP/TIP plans; portfolio management services (PMS); investment advisory; bonds distribution; margin trading financing (MTF); and IPO/OFS subscriptions. It serves retail investors, HNWIs, and corporate clients across India via a web platform, the iTRADE mobile app, and 42 branch offices.

Differentiator
Functional benefit
Problem solved
Product overview1 text field

Ajmera x-change is a Mumbai-based financial services platform offering a comprehensive suite of investment and trading products. The platform operates as a full-service investment supermart with core offerings including equity, commodity, and currency broking services, complemented by depository services through CDSL. The product portfolio includes mutual fund distribution with SIP and TIP investment plans, bonds, margin financing (MTF), IPO/OFS services, and portfolio management services (PMS). The Ajmera x-change mobile app serves as the primary trading interface, recognized as India's first knowledge-based analytical trading platform. Additional services include investment advisory, international investing (Ajmera Globex), calculators, and digital KYC services. The platform connects to major Indian exchanges including BSE, NSE, MCX, and MSEIL, serving retail, HNI, and corporate investors across India through 42 branch offices.

Product and service16 records
1Equity Broking
CategoryEquity Broking
Description

Stock trading services across BSE and NSE exchanges providing investors access to equity markets with research and advisory support.

2Commodity Broking
CategoryCommodity Broking
Description

Trading in commodity futures and options across MCX and NCDEX exchanges, including precious metals, energy, and agricultural commodities.

3Currency Trading
CategoryCurrency Derivatives
Description

Forex trading platform enabling currency pair trading on NSE, BSE, and Metropolitan Exchange with extended market access.

4Depository Services
CategoryDepository Services
Description

CDSL depository participant services including demat account management, dematerialization, and electronic securities holding.

5Mutual Fund Distribution
CategoryMutual Fund Distribution
Description

Distribution platform for equity, debt, hybrid, and index mutual funds with advisory services and SIP/TIP investment plans.

6Ajmera x-change iTRADE Mobile App
CategoryTrading Platform
Description

Mobile trading application for iOS and Android enabling on-the-go trading and investment management, branded as India's first knowledge-based analytical trading platform.

7Bonds Distribution
CategoryDebt Market / Bonds
Description

Debt market services including government and corporate bond investments for fixed income portfolio allocation.

8Margin Trading Facility (MTF)
CategoryMargin Financing
Description

Margin trading facility allowing investors to buy securities by availing collateral-based financing from the broker.

9IPO / OFS Subscription Services
CategoryPrimary Market Subscription
Description

Initial Public Offering and Offer For Sale subscription services including the EIPO (Electronic IPO) platform.

10Portfolio Management Services (PMS)
CategoryPortfolio Management
Description

Professionally managed portfolio services for wealth creation with customized investment strategies tailored to client objectives.

11Investment Advisory
CategoryInvestment Advisory
Description

Expert financial advisory services helping investors make informed investment decisions across asset classes.

12Ajmera Globex International Investing
CategoryInternational Investing
Description

International investment platform enabling investors to access global markets and diversify portfolios internationally.

13Systematic Investment Plan (SIP)
CategoryMutual Fund Distribution
Description

Disciplined investing approach allowing regular monthly investments in mutual funds with benefits of rupee cost averaging.

14Target Investment Plan (TIP)
CategoryMutual Fund Distribution
Description

Goal-oriented investment planning tool that helps investors achieve specific financial objectives within defined time frames.

15Paperless E-KYC Account Opening
CategoryOnboarding / KYC
Description

Digital account opening platform supporting new KYC, joint holder accounts, NRI accounts, corporate accounts, and re-KYC services.

16CDSL E-Voting Service
CategoryDepository Services
Description

Electronic voting platform for shareholders to participate in corporate decisions through CDSL.

Scale indicator3 records

Each record includes

Type, Value, Description, Source

Partnership5 partners
1CDSL (Central Depository Services Ltd.)
Strategic tierCoreTypeTechnology or Integration
Description

Ajmera Associates Ltd. operates as a Depository Participant (DP) of CDSL, providing demat account services and electronic securities custody. CDSL infrastructure enables secure holding of client financial assets in electronic form and facilitates smooth transaction processing.

2BSE (Bombay Stock Exchange)
Strategic tierCoreTypeTechnology or Integration
Description

Member of BSE with Clearing No. 911, enabling equity, F&O, and currency trading on India's oldest stock exchange.

3NSE (National Stock Exchange)
Strategic tierCoreTypeTechnology or Integration
Description

Member of NSE with Clearing No. 11858, enabling trading across equity cash, F&O, and currency segments.

ajmeraxchange.co.in
4MCX (Multi Commodity Exchange of India)
Strategic tierCoreTypeTechnology or Integration
Description

Member of MCX with Clearing No. 10665, enabling commodity futures and options trading.

5MSEIL (Metropolitan Stock Exchange of India Ltd.)
Strategic tierCoreTypeTechnology or Integration
Description

Member of MSEIL with Clearing No. 11400, enabling currency and other derivative trading.

Recent move6 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight5 records

Each record includes

Type, Description

Market position
Competitive moat5 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights6 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Segment3 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile3 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Feature3 records

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles3 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

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

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

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

ajmera x-change

Retail Brokerage / Investment Servicesajmeraxchange.co.in

Ajmera X-change (Ajmera Associates Ltd.) is a Mumbai-based, SEBI-registered full-service Indian broker offering equity, commodity, and currency trading, depository, mutual fund distribution, PMS, and margin financing to retail, HNI, and corporate clients across India via 42 branch offices and a mobile trading app.

What ajmera x-change does

Ajmera X-change is the trading brand of Ajmera Associates Ltd., a Mumbai-based, privately-held full-service securities broker and financial services intermediary operating in India since 1988. The company is registered with SEBI as a stock broker (INZ000177531) and depository participant (IN-DP-715-2022), and holds clearing memberships on BSE, NSE, MCX, and MSEIL, as well as a CDSL depository participant agreement (DP ID 30300). Its core offering spans equity and derivatives broking, commodity broking, currency derivatives trading, demat account services, mutual fund distribution, portfolio management services (PMS), bonds distribution, margin trading financing (MTF), and IPO/OFS subscriptions, with an additional cross-border investment product called Ajmera Globex.

The technology stack is centered on the Ajmera x-change iTRADE mobile application (available on iOS and Android) and a web-based trading platform, which the company markets as India's first "knowledge-based analytical" trading platform. Onboarding is paperless through a dedicated e-KYC portal supporting retail, joint, NRI, and corporate accounts. The company is ISO 9001:2015 and ISO/IEC 27001:2013 certified, and supports ten Indian languages across its website to broaden reach. Distribution is hybrid: 42 physical branch offices across India provide relationship-driven advisory and servicing, while digital self-serve channels handle execution and account opening.

The business model is multi-stream, combining transaction-based brokerage commissions (equities, commodities, currencies), depository transaction fees, recurring advisory and PMS fees, distribution trails from mutual fund and bond partners, and interest income from margin financing. Customer segments span retail individual investors (primary), HNW/UHNW individuals, and corporate clients using the platform for treasury and hedging. The company is closely held, with no disclosed external institutional investors; Ashish Ajmera serves as CEO, Whole Time Director, and Compliance Officer.

ajmera x-change firmographics

Firmographics
Name
ajmera x-change
Legal name
Ajmera Associates Ltd.
Website
https://ajmeraxchange.co.in
Company type
Private
Founded year
1988
Operating status
Operating
Short description
Ajmera X-change (Ajmera Associates Ltd.) is a Mumbai-based, SEBI-registered full-service Indian broker offering equity, commodity, and currency trading, depository, mutual fund distribution, PMS, and margin financing to retail, HNI, and corporate clients across India via 42 branch offices and a mobile trading app.
Ownership category
akta.pro rank

ajmera x-change industry classification

Industry
Product category
Retail Brokerage / Investment Services
NAICS
Investment Banking and Securities Intermediation (523150), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Portfolio Management and Investment Advice (523940)
SIC
Security Brokers, Dealers & Flotation Companies (6211), Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Investment Advice (6282)
akta.pro primary industry
Independent Broker-Dealers (Retail Network) (FSAAAAAC)
akta.pro secondary industries
IPO & New Issue Issuer Services (Listing/ISIN setup) (FSACAKAH), Alternatives & Multi-Asset Digital Wealth Platforms (PE/VC/Real Assets access) (FSAGAEAL)

Keywords

  • Equity brokerage services
  • Commodity trading platform
  • Depository participant services
  • Mutual fund distribution
  • Portfolio management services

Where ajmera x-change is headquartered

Location

Headquarters

HQ city
Mumbai
HQ country
India
HQ region
Asia

Offices1 record

Markets served

ajmera x-change business model

Business model
GTM type
B2C
Offering type
Services
Cost components
Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

  1. Equity Broking: Brokerage commissions charged on equity and derivatives (F&O) trading on BSE and NSE exchanges
  2. Commodity Broking: Brokerage commissions on commodity futures and options trading on MCX exchange
  3. Currency Trading: Brokerage revenue from currency derivatives trading on NSE, BSE, and Metropolitan Exchange
  4. Depository Services: Charges for demat account services as a CDSL depository participant
  5. Mutual Fund Distribution: Commission revenue from distributing mutual fund products from various asset management companies
  6. Portfolio Management Services: Fees for managing client investment portfolios including PMS offerings
  7. Investment Advisory: Advisory fees for providing investment recommendations and financial planning services
  8. Margin Financing (MTF): Interest income from providing margin funding to clients for leveraged trading positions
  9. Bonds Distribution: Revenue from distributing debt instruments and bonds to clients

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

ajmera x-change product offering

Product offering

Core offering

Ajmera x-change operates as a full-service stockbroker and investment platform offering equity, commodity, and currency broking across BSE, NSE, MCX, and MSEIL; CDSL depository services for demat accounts; mutual fund distribution with SIP/TIP plans; portfolio management services (PMS); investment advisory; bonds distribution; margin trading financing (MTF); and IPO/OFS subscriptions. It serves retail investors, HNWIs, and corporate clients across India via a web platform, the iTRADE mobile app, and 42 branch offices.

Product overview

Ajmera x-change is a Mumbai-based financial services platform offering a comprehensive suite of investment and trading products. The platform operates as a full-service investment supermart with core offerings including equity, commodity, and currency broking services, complemented by depository services through CDSL. The product portfolio includes mutual fund distribution with SIP and TIP investment plans, bonds, margin financing (MTF), IPO/OFS services, and portfolio management services (PMS). The Ajmera x-change mobile app serves as the primary trading interface, recognized as India's first knowledge-based analytical trading platform. Additional services include investment advisory, international investing (Ajmera Globex), calculators, and digital KYC services. The platform connects to major Indian exchanges including BSE, NSE, MCX, and MSEIL, serving retail, HNI, and corporate investors across India through 42 branch offices.

Differentiator

Problem solved

Functional benefit

Products and services

  • Equity Broking Stock trading services across BSE and NSE exchanges providing investors access to equity markets with research and advisory support.
  • Commodity Broking Trading in commodity futures and options across MCX and NCDEX exchanges, including precious metals, energy, and agricultural commodities.
  • Currency Trading Forex trading platform enabling currency pair trading on NSE, BSE, and Metropolitan Exchange with extended market access.
  • Depository Services CDSL depository participant services including demat account management, dematerialization, and electronic securities holding.
  • Mutual Fund Distribution Distribution platform for equity, debt, hybrid, and index mutual funds with advisory services and SIP/TIP investment plans.
  • Ajmera x-change iTRADE Mobile App Mobile trading application for iOS and Android enabling on-the-go trading and investment management, branded as India's first knowledge-based analytical trading platform.
  • Bonds Distribution Debt market services including government and corporate bond investments for fixed income portfolio allocation.
  • Margin Trading Facility (MTF) Margin trading facility allowing investors to buy securities by availing collateral-based financing from the broker.
  • IPO / OFS Subscription Services Initial Public Offering and Offer For Sale subscription services including the EIPO (Electronic IPO) platform.
  • Portfolio Management Services (PMS) Professionally managed portfolio services for wealth creation with customized investment strategies tailored to client objectives.
  • Investment Advisory Expert financial advisory services helping investors make informed investment decisions across asset classes.
  • Ajmera Globex International Investing International investment platform enabling investors to access global markets and diversify portfolios internationally.
  • Systematic Investment Plan (SIP) Disciplined investing approach allowing regular monthly investments in mutual funds with benefits of rupee cost averaging.
  • Target Investment Plan (TIP) Goal-oriented investment planning tool that helps investors achieve specific financial objectives within defined time frames.
  • Paperless E-KYC Account Opening Digital account opening platform supporting new KYC, joint holder accounts, NRI accounts, corporate accounts, and re-KYC services.
  • CDSL E-Voting Service Electronic voting platform for shareholders to participate in corporate decisions through CDSL.

Companies that use ajmera x-change

Customer profile

Segments3 records

Ideal customer profiles3 records

ajmera x-change technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Feature3 records

ajmera x-change partnerships and signals

Strategic signal

Partnerships

Five partnerships are on record, tiered core.

  • CDSL (Central Depository Services Ltd.)coreTechnology or IntegrationAjmera Associates Ltd. operates as a Depository Participant (DP) of CDSL, providing demat account services and electronic securities custody. CDSL infrastructure enables secure holding of client financial assets in electronic form and facilitates smooth transaction processing.
  • BSE (Bombay Stock Exchange)coreTechnology or IntegrationMember of BSE with Clearing No. 911, enabling equity, F&O, and currency trading on India's oldest stock exchange.
  • NSE (National Stock Exchange)coreTechnology or IntegrationMember of NSE with Clearing No. 11858, enabling trading across equity cash, F&O, and currency segments.
  • MCX (Multi Commodity Exchange of India)coreTechnology or IntegrationMember of MCX with Clearing No. 10665, enabling commodity futures and options trading.
  • MSEIL (Metropolitan Stock Exchange of India Ltd.)coreTechnology or IntegrationMember of MSEIL with Clearing No. 11400, enabling currency and other derivative trading.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

ajmera x-change competitors and assessment

Company assessment

Market position

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

ajmera x-change social profiles

Digital presence

ajmera x-change financial estimates

Financial estimate

Revenue estimate

Valuation estimate

ajmera x-change leadership team

Management profile

Number of profiles

Profiles3 records

ajmera x-change funding detail

Funding detail

Funding overview

Funding rounds

Investors

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

ajmera x-change M&A and investment

M&A and investment

M&A

Investments

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

Frequently asked questions about ajmera x-change

What does ajmera x-change do?

Ajmera x-change operates as a full-service stockbroker and investment platform offering equity, commodity, and currency broking across BSE, NSE, MCX, and MSEIL; CDSL depository services for demat accounts; mutual fund distribution with SIP/TIP plans; portfolio management services (PMS); investment advisory; bonds distribution; margin trading financing (MTF); and IPO/OFS subscriptions. It serves retail investors, HNWIs, and corporate clients across India via a web platform, the iTRADE mobile app, and 42 branch offices.

Is ajmera x-change a public or private company?

ajmera x-change is a private company. It is classified as founder individual operated bootstrapped and is currently operating.

When was ajmera x-change founded?

ajmera x-change was founded in 1988.

Where is ajmera x-change based?

ajmera x-change is headquartered in Mumbai, India, in the Asia region.

How does ajmera x-change make money?

Nine revenue lines are on record. Equity Broking is the primary driver. The others are commodity Broking, currency Trading, depository Services, mutual Fund Distribution, portfolio Management Services, investment Advisory, margin Financing (MTF) and bonds Distribution.

Does ajmera x-change have an API?

No public API is recorded for ajmera x-change.

What industry is ajmera x-change in?

ajmera x-change's product category is Retail Brokerage / Investment Services. Its primary akta.pro industry code is FSAAAAAC, Independent Broker-Dealers (Retail Network), with a secondary code of FSACAKAH, IPO & New Issue Issuer Services (Listing/ISIN setup). Its NAICS code is 523150 and its SIC code is 6211.

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