| Capital Market operations | Stock broking, mutual funds distribution, equity placement, delisting, and buyback services. | Established relationships with AMCs and a user-friendly digital platform strengthen market position. | Individual investors and institutions engaging in capital market transactions (B2C and B2B). | Mutual fund distribution and equity placements yield higher margins. | 7 | 40 | Revenue through transaction fees, commissions, and brokerage charges in capital market operations. | Commission and transaction-based fee model. | Increasing retail participation in equity markets and growing demand for mutual fund investments. | |
| Investment Banking | Includes debt syndication, financial restructuring, mergers and acquisitions, valuation and initial public offerings. | Deep expertise in stressed assets and extensive corporate networks create competitive moat. | Corporate clients seeking financial advisory and capital raising solutions (B2B). | Advisory on mergers, acquisitions, and restructuring commands premium margins. | 11 | 60 | Fees from advisory services, syndication, and capital market transactions. | Project and success-fee based revenue models. | Rising stressed asset resolutions and structured finance demand drive segment growth. | |
