May 2026
📣 VC round data is live. Check it out!
Largest Investment Brokerage Public Companies in India
Benchmark revenue and EBITDA valuation multiples for public comps like
Groww, Motilal Oswal, Angel One, JM Financial and IIFL Capital Services.
 | Billionbrains Garage Ventures Ltd is engaged in carrying out the business of software designing, maintenance, testing and benchmarking, designing, developing computer software and solutions, carry on the business of providing, building, organizing of software tools, marketing and innovatization of licensed software, and consultancy services. The company operates the web & app based technology platform, 'Groww'. The company operates in one reportable segment mainly through the sale of financial services through a web & app based technology platform. It derives a substantial portion of its revenue from the broking services. | $2 | -- | $12B | $11B | 22.9x | 36.8x | ||
| Motilal Oswal Financial Services Ltd provides a range of financial services, including private wealth management, retail broking and distribution, institutional broking, asset management, investment banking, private equity, commodity broking, and home finance. The group majorly generates revenue through its broking operations. Its broking and distribution segment offers research-based advisory services to help retail customers across India make investment decisions. The services cover various asset classes and investment types, such as mutual funds and insurance products. | $9 | +4% | $5B | $6B | 9.4x | 13.2x | ||
| Angel One Ltd is a retail broking house in India. It is a technology-led financial services company providing broking and advisory services, margin funding, loans against shares, and financial product distribution to clients under the brand Angel Broking. Broking and allied services are offered online and on a digital platform. | $4 | +10% | $3B | $2B | 5.0x | 13.1x | ||
| JM Financial Ltd is an India-based financial services group, specialising in providing a range of businesses to corporations, financial institutions, high-net-worth individuals, and retail investors. Its operating segment includes Investment Banking; Asset Management, Wealth Management and Securities Business (Platform AWS); Mortgage Lending; Alternative & Distressed Credit; and Others. The Investment Banking segment, which is the key revenue-generating segment, includes management of capital markets transactions, advising on mergers & acquisitions, and private equity syndication. This segment also includes institutional equities business and research, private wealth management, PMS, private equity funds, fixed income, syndication, and finance. | $1 | +0% | $1B | $3B | 8.8x | — | ||
| IIFL Capital Services Ltd is a independent full-service retail and institutional broking house in India. It is a investment advisory firm providing diversified financial services and products to corporates, institutional investors, foreign portfolio investors, mutual funds, insurance companies, alternative investment funds, trusts, high net worth individuals and retail investors. | $4 | +9% | $1B | $787M | 3.8x | 7.3x | ||
| Edelweiss Financial Services Ltd is mainly involved in providing investment banking services and holding company activities. The company's businesses are divided into Alternatives business, Capital business, Insurance business, Asset reconstruction business, Mutual fund business and Other business. Alternatives business includes advisory and other fee based business; Capital business, that derives maximum revenue, represents lending business and investment activities; Asset reconstruction business represents purchase and resolution of distress assets; Insurance business represents life insurance business and general insurance business. Mutual fund business represents income from asset management activities and Other business which includes custodian and CSR. | $1 | -1% | $1B | $3B | 5.3x | — | ||
| Share India Securities Ltd is a stockbroking firm in India. The company provides equity trading, derivatives, commodity and currency trading options as well as depository services. Its operating segments include Share Broking/Trading; Insurance; Merchant Banking; NBFC and Technology Services. The company generates maximum revenue from Share Broking/Trading Segment. | $1 | -23% | $320M | $39M | 0.6x | 0.6x | ||
| Rikhav Securities Ltd is engaged in the business of equity broking, investing, and trading activities. Its services encompass a comprehensive range of financial activities such as equity broking, It offers cash delivery, intra-day trading, futures, and options. The company is actively involved in trading across various derivative and commodity segments. The Company is also engaged in making proprietary investments in various tradable securities. | $1 | -22% | $19M | $3M | 0.1x | 0.8x | ||
| Median | $2 | +0% | $1B | $2B | 5.2x | 10.2x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
Recent Insights
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.