India's Most Valuable Companies 2021 edition · Source: Hurun India
Rank#288- Valuation
- ₹11,590 Cr
Revenue · FY 2018
₹1,053.66 Cr
▲ 107% YoY
Net profit · FY 2018
₹236.75 Cr
Net margin 22.5%
EBITDA · FY 2018
₹338.16 Cr
EBITDA margin 32.1%
Authorised capital
₹200 Cr
Registered with MCA
Paid-up capital
₹130.9 Cr
Issued & subscribed
Open charges
₹22 Cr
Satisfied ₹315.1 Cr
Company age
31 yrs
Est. 1995
Employees · EPFO
3
Provident fund records
About Dhani Services Limited
Data last updated:
Dhani Services Limited was a public limited company based in Gurgaon, Haryana, India. The company has been amalgamated - it was merged with another entity and no longer exists as a separate legal entity. It operated in the online financial services segment of the internet and digital services sector. It was incorporated on 09 June 1995.
The company was registered with the Registrar of Companies (ROC), Delhi, under CIN L74110HR1995PLC121209. Its GSTIN is 06AAACO0870B1Z0 (Haryana). The company held 9 GST registrations, of which 1 is active. It is recorded as listed by MCA, but its shares were delisted from BSE on 16 Jan 2026 · merger, and no longer trade on a stock exchange.
The company had an authorised share capital of ₹200 Cr and a paid-up capital of ₹130.9 Cr. It was formerly known as Indiabulls Securities Limited. It was led by directors including Divyesh Bharatkumar Shah (Whole-Time Director) and Gurbans Singh (Whole-Time Director).
Its last annual general meeting (AGM) was held on 25 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office was at IT Park, Gurgaon, Haryana.
As per the financials filed for FY 2018, the company reported a revenue of ₹1,053.66 Cr, a growth of 107% compared to the previous year. For the same year it recorded a net profit of ₹236.75 Cr (net margin 22.5%) and EBITDA of ₹338.16 Cr (EBITDA margin 32.1%). Revenue has grown at a compounded annual rate (CAGR) of 37% over three years.
The company had about 3 employees on its provident fund (EPFO) records before it was dissolved.
The company was associated with 3 brands: Indiabulls Dhani, Dhani Stocks and Dhani. As per MCA filings, the company had open charges of ₹22 Cr and satisfied charges of ₹315.1 Cr on record. Court records list 72 cases involving the company, including 22 filed by the company and 50 filed against it; 12 cases are pending. The company has 67 deals on record (57 market trades, 7 funding rounds, 1 buyback), with disclosed funding of ₹7,436.91 Cr; the latest was in October 2025.
The last known website on record is dhani.com.
Company details
CIN L74110HR1995PLC121209
Registration Number 121209
Incorporation Date 09 June 1995
ROC Delhi
Listing Status Listed - Delisted from BSE on 16 Jan 2026 · merger
Company Status Amalgamated
Date of Last AGM 25 September 2024
Date of Balance Sheet 31 March 2024
Compliance Status Active Compliant
Name history
Dhani Services has undergone 4 name changes throughout its history. The current legal name is Dhani Services Limited.
| Company Name | Status |
|---|---|
| Dhani Services Limited | Current |
| Indiabulls Securities Limited | Previous |
| Dhani Limited | Previous |
| Indiabulls Ventures Limited | Previous |
CIN history
Dhani Services has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L74110HR1995PLC121209, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L74110HR1995PLC121209 | Current |
| L74110DL1995PLC069631 | Previous |
| L74999DL1995PLC069631 | Previous |
Key People
Divyesh Bharatkumar Shah Whole-Time Director Gurbans Singh Whole-Time Director Ram Mehar Company Secretary Recognitions & Rankings of Dhani Services
Contact details
Dhani Services Limited's registered office is in Gurgaon, Haryana.
- Social Media
- Registered Address5th Floor Plot No. 108, IT Park Udyog Vihar Phase 1, Gurgaon, Haryana, India – 122016
- IndustryInternet, Online Financial Services
Comprehensive company report
Dhani Services Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
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Brands
Dhani Services operates multiple associated brands including Indiabulls Dhani, Dhani Stocks, and Dhani. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Offers personal loan services to individuals. | indiabullsdhani.com | |
| Online brokerage for stock trading, portfolio management, and IPO applications in India. | dhanistocks.com | |
| App-based platform for financial products | dhani.com |
Business activity
The main business activity of Dhani Services is financial and insurance service. In detail, this covers other financial activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| K | Financial and insurance Service | K8 | Other financial activities |
To see the full business activity and turnover split of Dhani Services Limited, buy the company report.
Financials of Dhani Services Limited
FY 2024 filings availableDhani Services Limited reported revenue of ₹1,053.66 Cr (up 107% YoY) for FY 2018.
Revenue · FY 2018
₹1,053.66 Cr ▲ 107%
Net profit · FY 2018
₹236.75 Cr margin 22.5%
EBITDA · FY 2018
₹338.16 Cr margin 32.1%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 107%
3 years · compounded
▲ 37%
EBITDA CAGR growth
1 year
▲ 60%
3 years · compounded
▲ 14%
Revenue has grown at a compounded annual rate (CAGR) of 37% over three years, including 107% growth in the latest year. EBITDA rose 60% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|---|
| Profit and Loss Statement | ||||
| Revenue from Operations | ||||
| Other Income | ||||
| Total Revenue | ||||
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| Depreciation and Amortisation | ||||
| Other Expenses | ||||
| Total Expenses | ||||
| EBITDA | ₹338.16 Cr | |||
| Profit Before Tax | ||||
| Tax Expense | ||||
| Net Profit (PAT) | ₹236.75 Cr | |||
| Balance Sheet | ||||
| Share Capital | ||||
| Reserves and Surplus | ||||
| Net Worth (Total Equity) | ||||
| Long-term Borrowings | ||||
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| Trade Payables | ||||
| Total Liabilities | ||||
| Fixed Assets | ||||
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| Inventories | ||||
| Trade Receivables | ||||
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Financial Ratios
| Metrics | FY 2017-18 | FY 2016-17 | FY 2015-16 | FY 2014-15 |
|---|---|---|---|---|
| Profitability | ||||
| EBITDA Margin | 32.1% | |||
| Net Profit Margin | 22.5% | |||
| Return on Equity (ROE) | ||||
| Return on Capital Employed (ROCE) | ||||
| Return on Assets (ROA) | ||||
| Liquidity and Debt | ||||
| Current Ratio | ||||
| Quick Ratio | ||||
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| Efficiency and Growth | ||||
| Asset Turnover | ||||
| Receivable Days | ||||
| Payable Days | ||||
| Inventory Days | ||||
| Revenue Growth | ||||
| Net Profit Growth | ||||
To see the full financial statements and ratios of Dhani Services Limited, buy the company report.
Board of directors and KMP of Dhani Services Limited
Dhani Services Limited currently reports 6 directors and 1 key managerial person. 30 former directors have served the organization.
Directors and KMP (as last reported)
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ram Mehar | Company Secretary | 30 Dec 2022 | 3 Years 10 Months | As last reported |
| Aishwarya Katoch | Director | 01 Jan 2023 | 3 Years 10 Months | As last reported |
| Amit Ajit Gandhi Also directs: Indiabulls Asset Reconstruction Company Limited, Dhani Loans and Services Limited, Indiabulls Nests Limited and 2 more | Director | 01 Jan 2023 | 3 Years 10 Months | As last reported |
| Divyesh Bharatkumar Shah Also directs: Indiabulls Limited, Indiabulls Securities Limited | Whole-Time Director | 09 Mar 2005 | 21 Years 8 Months | As last reported |
| Swati Jain Also directs: Indiabulls Asset Reconstruction Company Limited | Director | 11 Nov 2022 | 3 Years 11 Months | As last reported |
| Prem Prakash Mirdha Also directs: Indiabulls Securities Limited, Indiabulls Asset Reconstruction Company Limited, Indiabulls Condominiums Limited and 2 more | Director | 11 Aug 2023 | 3 Years 2 Months | As last reported |
Showing 6 of 7 current directors and KMP. View all directors and KMP
Charges & borrowings
Open charges
₹22 Cr
Satisfied charges
₹315.1 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 20 Dec 2017 | 100155658 | Hdfc Bank Limited | ₹9.86 Lakh | Satisfied | |
| 28 Sep 2017 | 100127020 | Lakshmi Vilas Bank Limited | ₹150 Cr | Satisfied | |
| 31 Jul 2017 | 100118991 | Others | ₹10 Cr | Satisfied | |
| 02 Mar 2013 | 10422038 | Hdfc Bank Limited | ₹25 Cr | Satisfied | |
| 28 Sep 2012 | 10382097 | Yes Bank Limited | ₹50 Cr | Satisfied |
To see the full charge records of Dhani Services Limited, buy the company report.
Total charge records: 7 View all charges
Deals & funding
Dhani Services Limited has 67 deals on record (57 market trades, 7 funding rounds, 1 buyback), with disclosed funding of ₹7,436.91 Cr; the latest was in October 2025.
Total deals
67
Market trades
57
Funding rounds
7
Buyback
1
Secondary share transfer
1
Disclosed funding
₹7,436.91 Cr
Deals on record (5 of 67)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Dec 2024 | Market trade | ₹33.01 Cr | Buyer: Hrti Private Limited Seller: Hrti Private Limited |
| Oct 2024 | Market trade | ₹49.53 Cr | Buyer: Graviton Research Capital LLP , Hrti Private Limited Seller: Graviton Research Capital LLP , Hrti Private Limited |
| Jul 2024 | Market trade | ₹17.35 Cr | Buyer: Hrti Private Limited Seller: Hrti Private Limited |
| Apr 2024 | Market trade | ₹15.83 Cr | Buyer: Hrti Private Limited Seller: Hrti Private Limited |
| Apr 2024 | Market trade | ₹53.61 Cr | Buyer: Graviton Research Capital LLP , Hrti Private Limited Seller: Hrti Private Limited , Graviton Research Capital LLP |
To see the full deal history of Dhani Services Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Dhani Services Limited has 72 court cases on record: 22 filed by Dhani Services, 50 filed against it. 12 cases are pending and 60 are disposed.
Total cases
72
Filed by the company
22
Filed against the company
50
Pending
12
Disposed
60
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 50 | 39 | 10 |
| High courts | 12 | 5 | 1 |
| Supreme Court | 7 | 6 | 1 |
| NCLAT | 3 | 0 | 0 |
Cases on record (5 of 72)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Gurugram, Haryana | Civil suit | Filed against the company by M/S Shyam Spectra Private Limited | Pending |
| District court, South East, Delhi | Commercial suit | Filed against the company by M/S Shyam Spectra Pvt. Ltd. | Disposed |
| District court, Mumbai Small Causes Court, Maharashtra | Court case (Revision) | Filed against the company by Messers Masumi Overseas Pvt Ltd | Disposed |
| District court, New Delhi, Delhi | Arbitration matter | Filed by the company against National Stock Exchange of India Limited and 1 other | Disposed |
| District court, Mumbai CMM Courts, Maharashtra | Civil suit | Filed by the company against Sahota Info. Pvt. Ltd. and 3 others | Disposed |
To see the full case history of Dhani Services Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Dhani Services Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Dhani Services has 9 GST registrations: 1 active and 8 cancelled or inactive.
Total GSTINs
9
Active
1
Cancelled / inactive
8
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 06AAACO0870B1Z0 | Haryana | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Dhani Services Limited, buy the company report.
Recent activity
Dhani Services Limited has 61 board changes on record since 1999: 34 appointments and 27 cessations. The latest: Narendra Jadhav ceased to be Director on 22 Aug 2023.
AGM
Dhani Services Limited last Annual general meeting of members was held on 25 Sep 2024 as per latest MCA records.
Charges
A charge registered on 20 Dec 2017 via Charge ID 100155658 with Hdfc Bank Limited was fully satisfied on 19 Apr 2024.
Charges
A charge registered on 02 Mar 2013 via Charge ID 10422038 with Hdfc Bank Limited was fully satisfied on 12 Apr 2024.
Filing
Dhani Services Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Delhi.
Ceased
Narendra Jadhav ceased to be Director.
Appointed
Prem Prakash Mirdha was appointed as Director.
Appointed
Gurbans Singh was appointed as Whole-Time Director.
Ceased
Sameer Gehlaut ceased to be Director.
Ceased
Vikas Khandelwal ceased to be Nodal Officer.
Appointed
Aishwarya Katoch was appointed as Director.
Appointed
Amit Ajit Gandhi was appointed as Director.
Ceased
Pinank Jayant Shah ceased to be Whole-Time Director.
67 earlier events are in the company report.
News
Frequently asked questions
Dhani Services has been "Amalgamated" (merged) as per MCA records. The company was combined with another entity and no longer exists as a separate legal entity. Business activities, if any, continue under the successor entity.
Dhani Services was a public limited company based in Gurgaon, Haryana, India. The company worked in online financial services, within the internet industry. It was incorporated on 09 June 1995 and is registered under CIN L74110HR1995PLC121209. The company is recorded as amalgamated in MCA records and no longer exists as a legal entity.
Dhani Services was incorporated on 09 June 1995. It is registered with the Registrar of Companies, Delhi.
Dhani Services had 7 directors and KMP:
- Divyesh Bharatkumar Shah - Whole-Time Director
- Gurbans Singh - Whole-Time Director
- Aishwarya Katoch - Director
- Amit Ajit Gandhi - Director
- Swati Jain - Director
- Prem Prakash Mirdha - Director
- Ram Mehar - Company Secretary
The CIN (Corporate Identification Number) of Dhani Services is L74110HR1995PLC121209. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Dhani Services is recorded as a listed company by MCA, but its shares were delisted from BSE on 16 Jan 2026 · merger, and no longer trade on a stock exchange.
The registered office of Dhani Services is at 5th Floor Plot No. 108, IT Park Udyog Vihar Phase 1, Gurgaon, Haryana, India – 122016.
Dhani Services can be reached through the website dhani.com. Its registered office is in Gurgaon, Haryana, India.
The latest financial statements of Dhani Services on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 25 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Dhani Services is 06AAACO0870B1Z0, registered in Haryana. The company has 9 GST registrations in all, of which 1 is active and 8 are cancelled or inactive.
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