What does Associated Finman Limited do?

Associated Finman Limited is a Mumbai-based financial services company incorporated in 1992, operating as an NBFC or financial management entity. Known directors include Manish Arora, Dhiraj Gupta, Anju Devi, and Sandeep Jangir.

Is Associated Finman Limited regulated by RBI?

As an NBFC-type entity, Associated Finman Limited would be subject to RBI regulations. Investors should verify current RBI NBFC registration status before investing.

Who are the directors of Associated Finman Limited?

Known directors include Manish Arora, Dhiraj Gupta, Anju Devi, and Sandeep Jangir based on available information.

What is the lot size for Associated Finman unlisted shares?

The lot size is 1 share, allowing investors to purchase any quantity.

Is Associated Finman Limited planning an IPO?

No IPO plans have been announced publicly. The company remains unlisted.

What is the current unlisted share price?

The unlisted share price is approximately ₹10 per share as quoted in unlisted share market platforms.

How do I buy Associated Finman Limited unlisted shares here?

Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.

Who am I actually transacting with?

You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.

How do I pay, and is there a payment gateway?

Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

How long does settlement take?

After you accept an allocation, you have a short window to pay (typically 2 days). Once payment is verified, shares are usually credited to your demat within 2–3 business days, subject to depository timelines and any company-level restrictions. Timeframes are typical, not guaranteed.

There are no separate platform fee lines and no GST on the transfer — the desk's margin is built into the buy/sell price you're quoted. The only statutory add-on on a purchase is stamp duty on the consideration, shown transparently in your cost breakdown.

Is there a minimum ticket size for Associated Finman Limited?

Minimums vary by company and depend on the lot the desk can source. Raise an enquiry and the desk will confirm the available quantity and the minimum for that name.

What KYC do I need, and do I need a demat account?

You'll share your demat details when you enquire so we can settle directly. Full KYC — PAN and a client-master / demat statement — is required before the transfer step, when shares actually change hands. Yes, you need an active demat account to hold unlisted shares.

Are there lock-ins on unlisted or pre-IPO shares?

Some shares carry statutory or company-imposed lock-ins — for example, a post-listing lock-in on pre-IPO stock — and transfers can be subject to the company's articles or approvals. Where a lock-in applies, we'll flag it before you commit.

How do I sell Associated Finman Limited shares I already hold?

Raise a sell enquiry with the company, quantity and your target price. The desk confirms a buying price, you transfer your shares into the desk's demat, and once the credit is verified we pay you out by bank transfer to your registered account. The desk never pays out before your shares are received.

Unlisted shares are illiquid, may be hard or impossible to sell, and are not covered by exchange settlement guarantees or investor-protection funds. Pricing is indicative, not live. Read the full Risk Disclosure before you enquire, and invest only what you can afford to lock away.

Associated Finman Limited Unlisted Share Price | Buy Associated Finman Limited Pre-IPO Shares — wisefolio

Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

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Associated Finman Limited Unlisted Share Price | Buy Associated Finman Limited Pre-IPO Shares — wisefolio | wisefolio

Investment Thesis

Associated Finman Limited is a near-dormant NBFC with Rs.0.21 Cr revenue (FY22), collapsed profitability, and only 9.83% promoter holding. Equity value is negligible.

Pros

Listed NBFC (L-prefix CIN) — regulatory status maintained with RoC Delhi; net worth Rs.10.11 Cr.
Financial services operations since 1992 — 32+ years of continuous corporate existence.

Cons

Revenue of only Rs.0.21 Cr (FY22) with 81.77% revenue decline — near-complete collapse of operations.
Profit turned negative (117.37% fall) in FY22 — loss-making on a near-zero revenue base.
Promoter holding of only 9.83% — negligible promoter skin-in-the-game; serious governance concern.
Public holding 90.17% — extremely low promoter commitment; risk of further value destruction.
No ISIN confirmed; Delhi-registered NBFC with near-dormant status and no investor communications.

Business Segments

NBFC Financial Services

Non-banking financial services including investment, lending, and financial intermediation — near-dormant as of FY22.

Revenue Model

Interest income on loans; advisory fees; investment management fees; commission income from financial product distribution.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds11

Growth Plans

India's growing credit demand from MSMEs and retail borrowers

Digital lending platforms enabling cost-efficient NBFC operations

Potential consolidation opportunities as a platform for acquisitions

Increasing financial inclusion driving new borrower segments

Industry Tailwinds

Recent Developments

RBI NBFC regulatory tightening

RBI has continued to tighten regulations for smaller NBFCs, increasing compliance costs but also strengthening the sector's overall resilience.

2024-01

Comparable Companies

CompanyTypeTickerMkt Cap

Shriram Finance LimitedListedSHRIRAMFIN~1,00,000 Cr

Muthoot Finance LimitedListedMUTHOOTFIN~90,000 Cr

Manappuram Finance LimitedListedMANAPPURAM~15,000 Cr

Shriram Finance LimitedListed

SHRIRAMFIN · ~1,00,000 Cr

Frequently Asked Questions

About Associated Finman Limited

Associated Finman Limited is a Mumbai-based financial management company incorporated in 1992, providing financial services including lending, investment management, and financial advisory. The 'Finman' branding reflects the company's positioning as a financial management specialist. As a registered entity in the financial services space, Associated Finman likely operates as an NBFC or financial intermediary, providing structured financial products to corporate and individual clients. Mumbai-based financial management companies of this vintage (early 1990s) were established to capitalise on India's post-liberalisation growth in financial services, as the 1991 economic reforms opened up banking, capital markets, and financial intermediation to private enterprise. Over three decades of operation, Associated Finman has navigated multiple credit cycles, regulatory changes, and market disruptions. The company's longevity in Mumbai's competitive financial services market reflects operational resilience and established client relationships. As a private company, detailed financial disclosures are not publicly available, and investors should conduct thorough due diligence before investing in the unlisted shares.

Key Milestones

Incorporated 1992 in Mumbai/Delhi (CIN: U65910MH1992PLC069147)

Registered at 59/17, Ground Floor, Bahubali Apartments, New Rohtak Road, New Delhi 110005

Common questions about unlisted shares

How do I buy Associated Finman Limited unlisted shares here?
Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.
Who am I actually transacting with?
You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.
How do I pay, and is there a payment gateway?

Associated Finman Limited

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