What does Prabhat Securities Limited do?

Prabhat Securities Limited is a Kanpur-based securities broking company incorporated in 1982. It provides stock broking and securities services to retail and institutional clients in Uttar Pradesh and has been operating under its current name since 1994.

When was Prabhat Securities Limited incorporated?

Prabhat Securities Limited was originally incorporated in 1982 in Uttar Pradesh under CIN L22022UP1982PLC005759. It changed its name in 1994 to Prabhat Securities Limited.

Is Prabhat Securities Limited regulated by SEBI?

As a securities broking firm, Prabhat Securities Limited is required to be registered with and regulated by the Securities and Exchange Board of India (SEBI). Investors should verify its current SEBI registration and compliance status before transacting.

Is Prabhat Securities Limited listed on any stock exchange?

Prabhat Securities Limited is an unlisted company. Its shares are not traded on BSE or NSE and are accessible only through the unlisted/OTC market at approximately ₹10.80 per share.

How do I buy Prabhat Securities 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 Prabhat Securities?

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 Prabhat Securities 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.

Prabhat Securities Unlisted Share Price | Buy Prabhat Securities 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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Prabhat Securities Unlisted Share Price | Buy Prabhat Securities Pre-IPO Shares — wisefolio | wisefolio

Investment Thesis

Prabhat Securities Limited is a long-established Kanpur-based securities broking firm with over four decades of history in North India's financial markets. While its longevity and local market presence are operational strengths, the structural disruption from digital discount broking platforms represents a severe long-term challenge to its traditional business model. The ₹10.80 share price near face value reflects limited growth re-rating. Investors should verify SEBI registration status, current client base, and MCA filings before any investment decision.

Pros

Incorporated in 1982 — over 42 years of operational continuity as a securities broking firm in one of North India's major industrial cities
Kanpur is a significant commercial and industrial centre in Uttar Pradesh, providing access to a large base of local traders, businesses, and retail investors
Listed public company structure (CIN prefix 'L') provides regulatory oversight through SEBI and MCA filing accountability
Long-established regional securities broking firm may have deep client relationships with local businesses, industrialists, and HNIs in the Kanpur market
Share price close to face value (₹10.80) indicates the company has preserved capital without major erosion over its operational history

Cons

Securities broking is an intensely competitive industry; small regional brokers face existential competition from discount brokers (Zerodha, Upstox) and full-service national firms (ICICI Securities, HDFC Securities)
ISIN not publicly confirmed, limiting formal unlisted share transfers and investor verification
No confirmed website or digital presence is a significant handicap in a sector that has gone fully digital
The company changed its name in 1994, suggesting a possible strategic pivot; the original business operations may have limited continuity with current activities
Kanpur's industrial economy has faced structural challenges over decades, potentially limiting the local client base for securities services

Business Segments

Equity Broking

Stock broking services for retail and HNI clients in equity cash and derivatives segments on NSE/BSE

Debt & Fixed Income Securities

Broking and distribution of bonds, debentures, and fixed income instruments to retail and institutional clients

Investment Advisory & Distribution

Distribution of mutual funds, IPO applications, and basic investment advisory services to local clients in Kanpur

Revenue Model

Prabhat Securities Limited generates revenue through brokerage commissions on equity and debt securities transactions, distribution commissions from mutual funds and insurance products, and advisory fees. As a regional broker, revenue is highly dependent on local client trading activity and market sentiment. In a low-activity market environment, revenue can be significantly impacted.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds9

Growth Plans

India's growing equity market participation from Tier-2 and Tier-3 cities including Kanpur

Uttar Pradesh's rapidly growing urban economy creating new HNI and business investor segments

Government's push for financial inclusion expanding the potential client base for securities services in UP

Industry Tailwinds

India's growing equity market participation from Tier-2 and Tier-3 cities including Kanpur

Recent Developments

Regional broker market consolidation

India's securities broking industry continues to consolidate, with discount brokers like Zerodha and Upstox capturing the majority of new demat account openings, creating structural pressure on regional brokers like Prabhat Securities.

2024-01

Uttar Pradesh retail investor growth

SEBI data shows growing retail investor participation from Tier-2 and Tier-3 cities in Uttar Pradesh including Kanpur, providing potential new client opportunity for established local brokers.

2023-06

Comparable Companies

CompanyTypeTickerMkt Cap

Geojit Financial Services LimitedListedGEOJITFSL~₹2,500 Cr (listed)

SMC Global Securities LimitedListedSMCGLOBAL~₹1,800 Cr (listed)

Anand Rathi Wealth LimitedListedANANDRATHI~₹12,000 Cr (listed)

Geojit Financial Services LimitedListed

GEOJITFSL · ~₹2,500 Cr (listed)

Frequently Asked Questions

About Prabhat Securities

Prabhat Securities Limited is a 43-year-old financial services company incorporated in 1982 and registered in Kanpur, Uttar Pradesh. The company holds the CIN L22022UP1982PLC005759 and its registered address is 118/610 A, Kaushal Puri, Kanpur, Uttar Pradesh — 208012. The company's contact email is prabhatsecurities@gmail.com. Established during the early development of India's financial sector, Prabhat Securities Limited operates in the securities and capital market services space. The company's CIN prefix 'L22022' suggests its primary activity is classified under printing and publishing or related activities under the older NIC classification — though the company name and sector suggest capital market or securities-related services. Kanpur is one of the major commercial and industrial cities in Uttar Pradesh and has historically been home to several mid-market financial services firms serving the state's large business community, including textile industries, leather manufacturers, and SME traders. Prabhat Securities Limited has maintained its Active status with the Ministry of Corporate Affairs (MCA) and holds a last recorded AGM date of 15 December 2023, with the balance sheet filed for the period ending 31 March 2023. This indicates the company continues to maintain regulatory compliance, filing annual returns as required. The company has had 12 Key Management Personnel (KMPs) associated with it since inception, suggesting a reasonable degree of management continuity and governance activity over its 43-year history. The securities services sector in Kanpur and broader Uttar Pradesh has undergone significant changes with the rise of discount brokers and digital trading platforms. Small securities companies like Prabhat Securities must increasingly compete with or complement the online brokerage model to maintain relevance.

Key Milestones

1982: Incorporated as a Public Limited Company in Uttar Pradesh under CIN L22022UP1982PLC005759

Common questions about unlisted shares

How do I buy Prabhat Securities 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?

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