India's Most Valuable Companies 2024 edition · Source: Hurun India
Rank#248- Valuation
- ₹23,750 Cr
2023 #169 2022 #142 2021 #171
Revenue · FY 2025
₹1,187.14 Cr
▲ 13% YoY
Net profit · FY 2025
₹57.72 Cr
Net margin 4.9%
EBITDA · FY 2025
₹101.89 Cr
EBITDA margin 8.6%
Authorised capital
₹90 Cr
Registered with MCA
Paid-up capital
₹64.13 Cr
Issued & subscribed
Open charges
₹1,090 Cr
Satisfied ₹185.01 Cr
Company age
5 yrs
Est. 2021
Directors on board
5
As per MCA filings
About Upstox Securities Private Limited
Data last updated:
Upstox Securities Private Limited is a private limited company based in Delhi, India, a subsidiary of Rksv Securities India Private Limited. It operates in the online financial services segment of the internet and digital services sector. It was incorporated on 10 February 2021 and has been in existence for over 5 years.
Its director Ravi Chandran Kumar is #678 among India's richest people (2026). Its director Shrinivas Viswanath is #724 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Delhi, under CIN U65100DL2021PTC376860. Its GSTIN is 27AAGCE3230K1ZP (Maharashtra).
The company has an authorised share capital of ₹90 Cr and a paid-up capital of ₹64.13 Cr. It is led by directors including Amit Chhotalal Lalan (Whole-Time Director) and Puneet Maheshwari (Whole-Time Director).
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 809 New Delhi House Barakhamba Road Connaught Place, Delhi, India – 110001.
As per the financials filed for FY 2025, the company reported a revenue of ₹1,187.14 Cr, a growth of 13% compared to the previous year. For the same year it recorded a net profit of ₹57.72 Cr (net margin 4.9%) and EBITDA of ₹101.89 Cr (EBITDA margin 8.6%). Revenue has grown at a compounded annual rate (CAGR) of 204% over three years.
The company is associated with 1 brand: Upstox. As per MCA filings, the company has open charges of ₹1,090 Cr and satisfied charges of ₹185.01 Cr on record. Court records list 23 cases involving the company, including 14 filed by the company and 9 filed against it; 17 cases are pending. The company has 7 deals on record (3 secondary share transfers, 2 rights issues, 1 funding round), with disclosed funding of ₹316.04 Cr; the latest was in April 2024.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website upstox.com.
Company details
CIN U65100DL2021PTC376860
Registration Number 376860
Incorporation Date 10 February 2021
ROC Delhi
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
Parent Company Rksv Securities India Private Limited
Compliance Status Active Compliant
CIN history
Upstox Securities has one previous CIN (Corporate Identification Number): U72900DL2021PTC376860. The current CIN is U65100DL2021PTC376860, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U65100DL2021PTC376860 | Current |
| U72900DL2021PTC376860 | Previous |
Key People
Amit Chhotalal Lalan Whole-Time Director Puneet Maheshwari Whole-Time Director Ravi Chandran Kumar Director Recognitions & Rankings of Upstox Securities
India's Richest People 2026 edition · 3 directors · Source: Hurun India
- #678 Ravi Chandran Kumar ₹4,700 Cr
- #724 Shrinivas Viswanath ₹4,400 Cr
- #748 Kavitha Subramanian ₹4,200 Cr
Contact details
Upstox Securities Private Limited's registered office is in Delhi, Delhi. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Social Media
- Apps
- Registered Address809 New Delhi House Barakhamba Road Connaught Place, Delhi, India – 110001
- IndustryInternet, Online Financial Services
To see the full contact details of Upstox Securities Private Limited, buy the company report.
Comprehensive company report
Upstox Securities Private 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
Upstox Securities operates one associated brand: Upstox. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Tech-driven trading platform is offered for low-cost brokerage services. | upstox.com |
Business activity
The main business activity of Upstox Securities is financial and insurance service. In detail, this covers financial advisory, brokerage and consultancy services.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| K | Financial and insurance Service | K7 | Financial Advisory, brokerage and Consultancy Services |
To see the full business activity and turnover split of Upstox Securities Private Limited, buy the company report.
Financials of Upstox Securities Private Limited
FY 2025 filings availableUpstox Securities Private Limited reported revenue of ₹1,187.14 Cr (up 13% YoY) for FY 2025.
Revenue · FY 2025
₹1,187.14 Cr ▲ 13%
Net profit · FY 2025
₹57.72 Cr margin 4.9%
EBITDA · FY 2025
₹101.89 Cr margin 8.6%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 13%
3 years · compounded
▲ 204%
EBITDA CAGR growth
1 year
▼ 57%
3 years · compounded
▲ 34%
Revenue has grown at a compounded annual rate (CAGR) of 204% over three years, including 13% growth in the latest year. EBITDA fell 57% 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 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
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| Total Expenses | |||||
| EBITDA | ₹101.89 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹57.72 Cr | ||||
| Balance Sheet | |||||
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| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 8.6% | ||||
| Net Profit Margin | 4.9% | ||||
| 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 Upstox Securities Private Limited, buy the company report.
Board of directors of Upstox Securities Private Limited
Upstox Securities has 5 current directors and 6 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
Auditor
Upstox Securities Private Limited is audited by B S R & Co. LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| B S R & Co. LLP | FY 2023 | 101248W/W-100022 |
Shareholding
The shareholding of Upstox Securities Private Limited is on record for 3 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Foreign institutional investors (FII) | |||
| Public | |||
| Others |
To see the full shareholding pattern of Upstox Securities Private Limited, buy the company report.
Charges & borrowings
Open charges
₹1,090 Cr
Satisfied charges
₹185.01 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 23 Dec 2025 | 101210636 | Others | ₹40 Cr | Open | |
| 28 Aug 2025 | 101159011 | Others | ₹75 Cr | Open | |
| 27 Feb 2025 | 101080385 | Hdfc Bank Limited | ₹250 Cr | Open | |
| 25 Feb 2025 | 101080596 | Hdfc Bank Limited | ₹650 Cr | Open | |
| 29 Nov 2024 | 101020096 | Others | ₹15 Cr | Open |
To see the full charge records of Upstox Securities Private Limited, buy the company report.
Total charge records: 11 View all charges
Deals & funding
Upstox Securities Private Limited has 7 deals on record (3 secondary share transfers, 2 rights issues, 1 funding round), with disclosed funding of ₹316.04 Cr; the latest was in April 2024.
Total deals
7
Secondary share transfers
3
Rights issues
2
Funding round
1
Debt financing
1
Disclosed funding
₹316.04 Cr
Deals on record (5 of 7)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Apr 2024 | Debt financing | ₹75.01 Cr | Investors: Stride Ventures |
| Mar 2024 | Funding round | ₹241.03 Cr | Investors: RKSV Securities India Private Limited |
| Jul 2022 | Secondary share transfer | Undisclosed | Seller: RKSV Securities India Private Limited |
| Mar 2022 | Secondary share transfer | Undisclosed | Buyer: RKSV Securities India Private Limited Seller: Epowerx Pte. Limited |
| Apr 2021 | Rights issue | ₹608.46 Cr | Investors: Epowerx Pte. Limited |
To see the full deal history of Upstox Securities Private 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
Upstox Securities Private Limited has 23 court cases on record: 14 filed by Upstox Securities, 9 filed against it. 17 cases are pending and 6 are disposed.
Total cases
23
Filed by the company
14
Filed against the company
9
Pending
17
Disposed
6
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 16 | 5 | 12 |
| High courts | 7 | 4 | 5 |
Cases on record (5 of 23)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Writ petition | Filed by the company against HDFC Bank Limited and 2 others | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Court case (CRI REV APP) | Filed by the company against HDFC Bank Ltd and 9 others | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Court case (CRI REV APP) | Filed by the company against Icici Bank Ltd and 11 others | Pending |
| District court, Central, Delhi | Court case (Succ. Court) | Filed against the company | Pending |
| District court, BENGALURU, Karnataka | Civil suit | Filed against the company | Pending |
To see the full case history of Upstox Securities Private 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 Upstox Securities Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Upstox Securities Private Limited has 2 active EPFO establishments as of Mar 29, 2024.
Active EPFO establishments
2
GST
Upstox Securities has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAGCE3230K1ZP | Maharashtra | Active | 16 Mar 2021 |
To see the full GST registrations and return filing status of Upstox Securities Private Limited, buy the company report.
Recent activity
Upstox Securities Private Limited has 9 board changes on record since 2021: 5 appointments and 4 cessations. The latest: Amit Chhotalal Lalan ceased to be Director on 20 May 2025.
Charges
A charge registered on 26 Jul 2024 via Charge ID 100962199 with Others was fully satisfied on 24 Dec 2025.
Charges
A charge with Others amounted to Rs. 40.00 Cr with Charge ID 101210636 was registered on 23 Dec 2025.
AGM
Upstox Securities Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Charges
A charge with Others of Rs. 35.00 Cr registered on 26 Jul 2024 with Charge ID 100962199 was modified on 10 Sep 2025.
Charges
A charge with Hdfc Bank Limited of Rs. 250.00 Cr registered on 27 Feb 2025 with Charge ID 101080385 was modified on 03 Sep 2025.
Charges
A charge with Hdfc Bank Limited of Rs. 650.00 Cr registered on 25 Feb 2025 with Charge ID 101080596 was modified on 03 Sep 2025.
Charges
A charge with Others amounted to Rs. 75.00 Cr with Charge ID 101159011 was registered on 28 Aug 2025.
Charges
A charge registered on 20 Nov 2023 via Charge ID 100830968 with Others was fully satisfied on 04 Aug 2025.
Ceased
Amit Chhotalal Lalan ceased to be Director.
Ceased
Puneet Maheshwari ceased to be Director.
Charges
A charge registered on 27 Mar 2024 via Charge ID 100923657 with Others was fully satisfied on 25 Apr 2025.
Filing
Upstox Securities Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Delhi Ii.
18 earlier events are in the company report.
News
Frequently asked questions
Upstox Securities is an active private limited company based in Delhi, India. The company works in online financial services, within the internet industry. It was incorporated on 10 February 2021 (5+ years old) and is registered under CIN U65100DL2021PTC376860.
Upstox Securities has 5 current directors:
- Amit Chhotalal Lalan - Whole-Time Director
- Puneet Maheshwari - Whole-Time Director
- Ravi Chandran Kumar - Director
- Shrinivas Viswanath - Director
- Kavitha Subramanian - Director
The latest financial statements of Upstox Securities on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from FY 2021 are in the company report.
The GSTIN of Upstox Securities is 27AAGCE3230K1ZP, registered in Maharashtra.
The CIN (Corporate Identification Number) of Upstox Securities is U65100DL2021PTC376860. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Upstox Securities has 23 court cases on record: 14 filed by the company and 9 filed against it. 17 are pending. Most are in the district courts.
Upstox Securities was incorporated on 10 February 2021, making it 5+ years old. It is registered with the Registrar of Companies, Delhi.
Upstox Securities has 7 deals on record (3 secondary share transfers, 2 rights issues, 1 funding round), with disclosed funding of ₹316.04 Cr; the latest was in April 2024.
Amit Chhotalal Lalan ceased to be Director on 20 May 2025. Puneet Maheshwari ceased to be Director on 20 May 2025. Ravi Chandran Kumar ceased to be Additional Director on 28 Dec 2023. Upstox Securities has 9 board changes on record in total.
Upstox Securities can be reached through the website upstox.com. Its registered office is in Delhi, India.
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