Systematix Corporate Services is a full-service Indian financial firm built to be a one-stop shop for a client’s entire financial lifecycle, from raising growth capital to managing personal wealth. Founded in 1985 by Mr. Chandra Prakash Khandelwal and listed on the BSE and NSE, the group has spent four decades assembling a hub-and-spoke model where a central merchant bank feeds and is fed by a network of broking, wealth, and asset management subsidiaries. The recurring approach is to use deep, mid-market investment banking relationships as the anchor, then cross-sell execution, advisory, and financing services to the same companies and their promoters as they grow. # Business segments Three engines that feed each other - a mid-market investment bank that creates the relationships, an institutional equities platform that executes the trades, and a newly built private wealth and asset management arm that gathers the assets - each one fuelling the next. ## 1. Merchant banking: the relationship engine that creates the fees **A SEBI-registered Category I merchant banker that earns one-time, transaction-linked fees by advising mid-sized Indian companies on raising capital, going public, or selling stakes - the group’s original business and the source of its corporate relationships.** - **Paid per deal, not per hour** - the division earns fee-based income from advisory mandates and equity capital market transactions, with revenue recognised only when a transaction’s specific obligations are fulfilled, making income lumpy but directly tied to successful deal closures. - **A mid-market specialist** - it positions itself as a go-to advisor for medium-sized companies, helping them raise growth capital, execute IPOs, and advising promoters and private equity funds on stake sales, with a team of 30+ professionals whose 12-member advisory core carries a cumulative 120 years of experience. - **The deal roster is the credential** - over the last six years, the firm has executed more than ₹35,000 crore in investment banking transactions, including ₹4,000 crore in private equity and M&A deals, and in FY25 alone closed 28 transactions raising over ₹15,400 crore, capturing a 7.5% market share of all QIP (Qualified Institutional Placement) issuance in India that year. - **Sector-agnostic, relationship-driven** - the team has handled deals across hospitality, automobiles, pharmaceuticals, logistics, green energy, and more than a dozen other sectors, with marquee transactions including a ₹3,500 crore fundraise for Bank of Maharashtra and a ₹3,320 crore QIP for Swan Energy. ## 2. Institutional equities and brokerage: the execution engine that monetises the flow **A commission-based trading desk that executes equity, derivative, commodity, and currency trades for over 40,000 clients and 200+ institutional investors, supported by in-house research covering roughly 328 stocks - turning market access into a recurring revenue stream.** - **Institutional reach is the moat** - the firm is empanelled with more than 200 institutional investors and has a direct sales team covering 95 foreign funds across Singapore, Hong Kong, the UAE, the UK, and the US, plus 145 domestic institutions including HDFC Mutual Fund, ICICI Prudential, and Goldman Sachs. - **Research as the hook** - a dedicated team produces incisive, objective research across 20+ sectors and 328 stocks, with a particular knack for identifying ‘Hidden Gems’ in the small and mid-cap space, which feeds both institutional trading ideas and the wealth management team’s portfolio construction. - **A franchisee network for retail reach** - the firm reaches mass retail and affluent clients through a 62+ franchisee network spread across more than 100 cities, including Mumbai, Delhi, Kolkata, and Ahmedabad, giving it a pan-India distribution footprint without owning every branch. - **The annual conference is the showcase** - its flagship investor conference, “Manthan,” brings together 80+ companies, 400+ clients, and 200+ funds, generating over 3,000 meeting requests and featuring corporates like LIC, Sun Pharma, and Vedanta, which deepens institutional relationships and feeds the deal pipeline. ## 3. Private wealth and asset management: the asset-gathering engine built on top **A newly scaled platform that earns recurring, AUM-based fees by managing money for wealthy individuals and families through portfolio management services (PMS) and alternative investment funds (AIFs), while distributing third-party financial products - the group’s bet on sticky, long-duration capital.** - **Built, not just bought** - the private wealth business was officially launched in FY26, led by senior bankers with 27+ and 26+ years of experience at firms like Axis Bank, Barclays Private Bank, and Standard Chartered, and already holds AUM and custody assets of roughly ₹7,800 crore. - **A new suite of funds for growth-stage companies** - the group has launched a Category I AIF (the India SME Growth Fund, ₹125 crore) targeting high-growth small and medium enterprises, and a Category II AIF (the India Equity Opportunities Fund, ₹1,000 crore) for mid and late-stage companies seeking growth capital, with a real estate fund scheduled to follow. - **Client-centric, not product-push** - the wealth management approach tailors services to each client’s specific requirements, drawing on an in-house research team that spans equities, derivatives, fixed income, currencies, and mutual funds, so the advice is built on proprietary insight rather than third-party sales scripts. # Group structure and partners **A hub-and-spoke architecture where the listed parent company holds the merchant banking licence and five wholly-owned subsidiaries run the regulated operating businesses - broking, financing, and wealth - each with its own SEBI or RBI registration.** - **The parent is the merchant banker** - Systematix Corporate Services Ltd itself holds the SEBI Category I Merchant Banker registration and operates the investment banking division, while also acting as the listed entity on the BSE and NSE. - **Broking sits in a separate subsidiary** - Systematix Shares and Stocks (India) Limited holds memberships of the BSE, NSE, MCX, and NCDEX, and is also a CDSL depository participant, portfolio manager, research analyst, and AMFI-registered mutual fund distributor, making it the group’s primary execution and advisory vehicle. - **Financing runs through two RBI-registered NBFCs** - Systematix Fincorp India Limited and Systematix Finvest Private Limited conduct the group’s lending activities, primarily loans against shares and margin funding, with credit risk managed through upfront margins and real-time position monitoring. - **Wealth and asset management is being consolidated** - Systematix Ventures Private Limited (proposed to be rebranded as Systematix Wealth Private Ltd) is the dedicated vehicle for alternative investment funds, wealth management, and distribution, with the board having approved the transfer of the wealth and PMS business into this entity to create a focused wealth company.