| Wealth Management | Integrated wealth advisory, brokerage, margin trading, mutual funds, insurance, portfolio management, and alternative investment distribution. | Strong brand, broad product suite, extensive branch network, regulatory licenses, and technology-enabled client servicing. | Retail investors, HNI, UHNI individuals, family offices (B2C, B2B). | Portfolio management services, alternative investments, advisory fees. | 1554 | 37 | Fees, commissions, brokerage on trading and advisory services. | Fee-based, brokerage commissions, volume-linked revenue models. | Increasing financial asset penetration, rising affluent population, digital onboarding. | Nuvama Wealth Management platform |
| Asset Management Business | Alternative investment funds, private equity, real estate funds, structured products. | Early mover in alternative strategies, integrated distribution channel leveraging wealth clients. | Institutional investors, high net worth individuals, family offices (B2B, B2C). | Private credit, commercial real estate, differentiated private market strategies. | 125 | 3 | Management fees, performance fees on assets under management. | Asset under management fees, performance incentives. | Demand for alternates, synergies with wealth business, launch of new products. | Private Markets, Public Markets, Commercial Real Estate strategies |
| Capital Based Business | Equity trading, investment banking, fixed income services, research, capital raising. | Domain expertise, robust research capabilities, institutional client relationships. | Institutional investors, corporates, FIIs, DIIs (B2B). | Investment banking advisory, fixed income brokerage. | 2062 | 50 | Transaction fees, underwriting fees, advisory income. | Fee and commission based, deal contingent fees. | Market activity, IPO volumes, diversified client acquisition. | Institutional Equities, Investment Banking Practices |
