What we do Rikhav Securities Ltd is a full-service Indian stock brokerage offering equity, derivatives, commodities trading, market-making, mutual fund distribution, and depository services. |
Founded in 1,995 |
Market share Active market maker on BSE and NSE supporting 40-45 SME IPOs annually with a growing retail client base of 23,000+. |
Problem solved Provides accessible, technology-driven trading and investment solutions, enhancing liquidity and market participation, especially for retail and SME investors. |
Top clients or who we serve Retail investors, high-net-worth individuals, corporates, and institutional clients across India, with a focus on Maharashtra and Gujarat. |
Key management Mr. Hitesh Himatlal Lakhani (Chairman & MD, 40+ years experience); Mr. Rajendra N. Shah (Whole-Time Director & CFO, 40+ years); Mr. Monil Rajendra Shah (Executive Director). |
Our journey and innovations Founded in 1995, renamed in 2006; expanded to derivatives and commodities; launched Margin Trading Facility and digital app 'Rikhav Plus'; IPO in 2025 raising Rs 88.82 Cr. |
Where we operate Primarily Maharashtra and Gujarat with growing digital presence targeting pan-India retail and institutional markets. |
Top products or what we offer Equity & derivatives broking, market-making on SME exchanges, proprietary trading, margin trading facility, mutual fund distribution, IPO application services, and depository participant. |
Top brands Rikhav Plus (mobile trading app with 4.2 star rating and multi-asset capability); Market Making on BSE and NSE SME segments; proprietary trading desk. |
Raw materials needed - |
Raw materials supplier - |
Recurring vs cyclical contribution Revenue mainly from recurring brokerage fees, market-making spreads, and proprietary trading profits; moderately cyclical with market conditions. |
Our industry position Established SME stock broker with growing revenue (~₹328 Cr FY25), strong client retention (99%), and recognized market maker on major Indian exchanges. |
Financial highlights FY25 revenue ₹327.77 Cr, net profit ₹23.67 Cr; notable revenue growth 3x from previous year; EBITDA ₹34.5 Cr; post-IPO capital infusion ₹88.82 Cr. |
Geographical revenue split Majority from India, focused in Maharashtra and Gujarat; digital expansion planned nationwide. |
Order book - |
Whats driving growth Growth driven by technology adoption, digital onboarding, margin trading facility launch, and expanding institutional and retail client acquisition. |
Our future plans Enhance prop trading and risk management, expand digital client base across India, launch online joint account facility, and develop institutional brokerage. |
Our green promise - |
Our people and values 195+ team focused on compliance, client service, innovation, and governance; diverse board with seasoned professionals. |
Key challenges ahead Managing market volatility, regulatory changes, competition in digital broking space, and maintaining profitability amid scaling operations. |
Interesting facts Supported 46 new IPOs annually in SME segment; launched first Margin Trading Facility in FY25; maintains 99% client retention. |
Risks and strategy Mitigates market and operational risks via automated risk management systems and diversified revenue streams; strategy focuses on technology and institutional expansion. |
