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Navigating Growth, Securing Futures
Managed by B-Fly
Complex or leveraged strategies — long-short, hedge-fund-style and quant funds. Often open-ended, within SEBI leverage limits.
B-Fly India Alternative Investment Trust (SEBI Reg. IN/AIF3/24-25/1554) is a Category III AIF registered in July 2024 and managed by B-Fly Asset Manager LLP, a subsidiary of B.N. Rathi Securities Limited (BSE: 523019), one of South India's leading stockbroking and financial services firms. The fund's commercial name is 'B-FLY India Opportunities Fund.' B.N. Rathi Securities, incorporated in 1985 and a founder member of the Hyderabad Stock Exchange, is a public-listed stockbroker with over 60,000 CDSL depository accounts and a top CDSL participant in South India. The fund launched in September 2024 and had achieved an AUM of ₹30 crore by late 2024. The fund invests in a diversified portfolio combining private (unlisted) securities and listed equities, with a strong focus on high-growth SMEs with significant long-term return potential. The fund is headquartered at 6/3/652, 4th Floor, Kautilya Amrutha Estates, Somajiguda, Hyderabad 500082, with an additional Mumbai office at A-Wing 301, Gala Quest, Vile Parle East, Mumbai 400057.

Sunil Jatakia
FMFund Manager
Sunil Jatakia is the Fund Manager of B-Fly India Opportunities Fund with over 27 years of experience in the Indian Capital Market, spanning equity trading and sales, Equity Research, and Portfolio Management. He follows a Contrarian Investing philosophy — contrarian in stock picks and investment time horizon — with a focus on asymmetric returns and deep bottom-up fundamental analysis. His strategy is Growth at Reasonable Price (GARP) with a tilt toward small and mid-cap stocks, focusing on relatively undervalued companies with sustainable growth potential and competent management.

Dhiren Shethia
Managing Partner & Founder
Dhiren Shethia is the Managing Partner and Founder of B-Fly India Opportunities Fund and the SEBI-registered contact person. He has over two decades of experience in stock markets and investments. His background includes a partnership with an investment banking firm focused on the growth of SMEs and successful fund-raising for emerging businesses. He is also associated with the Kanu Doshi Group (KDG), a Mumbai-based CA and professional services firm.

Chetan Rathi
Sponsor & Co-Founder
Mr. Chetan Rathi is the Sponsor and Co-Founder of B-Fly India Opportunities Fund. He has been a full-time Director and CFO at B.N. Rathi Securities Limited since 2010. He has decades of experience across securities, insurance, mutual funds, and financial instruments, with expertise in Risk Management and data-driven business performance reporting. He has previously worked across Accounts, KYC, back office, RMS, Dealing, and marketing at B.N. Rathi Securities.

Krishit Shah
Equity Research Analyst
Krishit Shah is an Equity Research Analyst at B-Fly India Opportunities Fund, motivated by financial markets and focused on dissecting complex industries and companies. He has previously worked as an analyst at a leading stockbroking firm and excels at building intricate financial models and performing in-depth fundamental research.
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Saurabh Gadhari
Technical Analyst
Saurabh Gadhari is the Technical Analyst at B-Fly India Opportunities Fund. He is certified in NISM-Series-VIII: Equity Derivatives and NISM-Series-III-A: Securities Intermediaries Compliance (Non-Fund) and has 10 years of total experience in equity and derivatives markets. He has worked with industry leaders and has managed to maintain HNI status throughout his career.
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