Metropolitan Stock Exchange of India Limited (MSEI) is a full-service national level Stock Exchange with a license to operate in Equity, Equity Derivatives, Currency Derivatives, Debt, and SME Platform. It has a live trading platform in all segments except SME. MSEIL has two subsidiaries: Metropolitan Clearing Corporation of India Limited (MCCIL) and MCX SX KYC Registration Agency Limited (MRAL) in which it holds 86.94 and 100 percent. MCCIL is in the business of clearing and settlement of deals in multi-asset classes carried out at MSEIL and MRAL is in the business of maintaining a database for members of the exchange and other under the Know Your Client (KYC) Guidelines.

Key Highlights

(i) The ownership of MSEIL is diversified between corporates, banks, and individuals.

(ii) The shareholding of MSEIL consists of Banks/Flls at 23.64% which includes leading public and private sector banks like State Bank of India, Bank of Baroda, Punjab National Bank, Axis Bank, HDFC Bank, etc.

(iii) Leading Corporates and institutions hold around 29.94% which includes Edelweiss Commodities Services Limited, IL&FS Financial Services Limited, Multi Commodity Exchange of India Limited, etc. (iv) Individual Investors hold around 40.47% which includes leading investors like Mr. Rakesh Jhunjhunwala, Mr. Radhakishan Damani, Mr. Nemish Shah among others.

Garuda Aerospace Limited is a Chennai-based drone technology company founded in 2015 by Agnishwar Jayaprakash.
The company focuses on design, manufacturing, and Drone-as-a-Service (DaaS) solutions across agriculture, defense, surveillance, and enterprise sectors.
Initially incubated at Agni College with 250 lakh seed funding, Garuda has grown into one of India’s largest drone ecosystem players, operating over 4,000 drones with a network of more than 4,000 trained pilots across 80+ cities.
The company has also received recognition through partnerships with organizations such as ISRO, HAL, Lockheed Martin, and Elbit Systems.
Garuda Aerospace is currently transitioning toward becoming a publicly listed company, indicating its intention to scale operations and expand globally.
B. Business Model & Revenue Sources
Garuda Aerospace Limited follows a hybrid model combining drone manufacturing and service-based offerings.
1. Drone Manufacturing
Garuda designs and manufactures 30+ types of drones used for:
* Agriculture spraying
* Industrial inspection
* Surveillance and defense
* Mapping and surveying
2. Drone-as-a-Service (DaaS)
The company provides on-demand drone services, including:
* Crop monitoring and spraying
* Aerial mapping and surveying
* Infrastructure and solar inspections
* Disaster management operations
3. Pilot Training
Garuda operates DGCA-approved pilot training programs (RPTO) for commercial drone operators.
4. Maintenance & Support
The company earns recurring revenue through Annual Maintenance Contracts (AMCs) for drone fleets, offering multiple service tiers ranging from basic packages (~710,000) to premium support plans.
5. Consultancy & Custom Solutions
Income from R&D collaborations, drone design consulting, and specialized solutions such as anti-drone systems.

Zepto operates as a quick commerce company, focused on delivering groceries and daily essentials to customers in under 10-15 minutes. It follows a dark store model, where local warehouses (called micro-fulfillment centers) are strategically set up in densely populated urban areas. Customers place orders via the mobile app, which are fulfilled through these dark stores using a fleet of delivery personnel.

Key Features:
• Hyperlocal logistics to reduce delivery times.
• Tech-enabled supply chain with demand forecasting.
• Own fleet and delivery riders to control quality and speed.
• Inventory management handled in-house for most SKUs.

(i) HDFC Securities Limited, an esteemed financial intermediary, stands as a subsidiary of HDFC Bank, a top-tier private sector bank in India. Rooted in Mumbai, this leading stock broking firm has an illustrious 20-year journey since its inception in 2000. Initially, HDFC Securities was the outcome of a joint venture encompassing HDFC Bank Limited, HDFC Limited, and Indocean eSecurities Holdings Limited.
(ii) Besides providing top-notch stock broking services, HDFC Securities has broadened its horizon as a prominent distributor of various financial products. A notable shift occurred in 2006 when HDFC Bank acquired the stake of HDFC Ltd. Subsequently, in 2008, a further 4% was bought from Indocean Securities, solidifying HDFC Securities’ position as a subsidiary of HDFC Bank.

boAt is India’s leading audio and wearable brand, known for blending style, innovation, and affordability. Founded in 2016 by Aman Gupta and Sameer Mehta, boAt Lifestyle (Imagine Marketing Ltd.) has redefined how young India listens to music, stays connected, and expresses personal style through technology.
The company designs and markets a wide range of products, including wireless earphones, headphones, smartwatches, Bluetooth speakers, soundbars, and mobile accessories. With its youthful designs, vibrant branding, and customer-first approach, boAt has become synonymous with the modern, energetic lifestyle of India’s millennials and Gen Z consumers.
boAt’s rapid rise is backed by a deep understanding of local consumer needs — offering high-quality, durable products at accessible prices. Its community-driven marketing, influencer collaborations, and pop-culture partnerships have made boAt a household name and a market leader in personal audio.
Headquartered in New Delhi, boAt has achieved remarkable success, ranking among the top 5 global wearable brands and holding a dominant share in India’s audio accessories market. The company counts Warburg Pincus and other reputed investors among its backers and continues to expand into smart wearables, gaming accessories, and lifestyle tech.
At its core, boAt stands for “Do What Floats Your boAt” — a celebration of individuality, self-expression, and innovation that inspires millions to live life in rhythm.

The National Commodity and Derivatives Exchange Limited (NCDEX) is India’s leading agricultural commodity exchange, providing a transparent and technology-driven platform for trading in agricultural futures and options. Headquartered in Mumbai, NCDEX was incorporated on April 23, 2003, and began operations on December 15, 2003. It is regulated by the Securities and Exchange Board of India (SEBI). NCDEX was promoted by major Indian financial institutions such as the National Stock Exchange (NSE), ICICI Bank, CRISIL, National Bank for Agriculture and Rural Development (NABARD), and Life Insurance Corporation (LIC) of India. Its aim is to provide farmers, traders, and investors with a fair, regulated, and efficient marketplace for agricultural commodities.The exchange facilitates trading in a wide range of agricultural products like soybean, chana, guar seed, turmeric, castor seed, jeera, and wheat, among others. These commodities form a significant part of India’s agricultural output and play a vital role in the country’s economy. NCDEX enables price discovery, risk management, and market connectivity, linking rural producers with urban investors through a nationwide trading and warehouse network.NCDEX uses advanced systems for clearing and settlement through the National Commodity Clearing Limited (NCCL), ensuring transparency in every transaction. It currently holds a dominant position in India’s agri-derivatives market, accounting for approximately 75–80% of the total trade in agricultural futures.In essence, NCDEX has transformed India’s agricultural commodities landscape by improving price transparency, hedging efficiency, and farmer participation, contributing significantly to the modernization and digitalization of Indian agriculture.

OYO, legally known as Oravel Stays Limited, is one of India’s largest hospitality technology companies and among the world’s leading hotel networks. Founded in 2012 by Ritesh Agarwal, OYO started as a budget hotel aggregator and has since evolved into a global hospitality platform empowering small and mid-sized hotels through technology, branding, and operational support.Headquartered in Gurugram, India, OYO operates an asset-light business model, partnering with hotels, homes, and property owners to offer standardized, affordable stays. The company uses data analytics and dynamic pricing tools to enhance occupancy and revenue for its partners, making it a key player in India’s travel-tech ecosystem. OYO has a presence in 80+ countries, managing more than 1,80,000 properties worldwide across categories such as OYO Rooms, OYO Homes, Townhouse, and Collection O. The company’s investors include SoftBank Vision Fund, Lightspeed Venture Partners, and Sequoia Capital, among others. After facing pandemic-related challenges, OYO shifted its focus toward profitability and operational efficiency, achieving its first profitable year in FY2024  a major milestone illustrating sustainable growth.Today, OYO stands as a symbol of India’s startup success story, continuously innovating in the global hospitality and travel technology sector through scalable digital solutions and a customer-first approach.

SBI Funds Management Ltd. (SBIFML), with 36 years of experience, is a joint venture between the State Bank of India (SBI) and AMUNDI, a global fund management company. SBI holds a 63% stake, while AMUNDI owns the remaining 37%. This partnership, formalized in April 2011, aims to develop SBIFML into an internationally reputable asset management company, adopting global best practices and maintaining international standards.

SBIFML prioritizes its investors, focusing on mutual funds as a viable investment option for the masses in India. The company offers a range of services, including managing domestic mutual funds, offshore funds, Alternative Investment Funds, and providing portfolio management advisory services for institutional investors. Innovative and need-specific products have been developed to educate investors about the benefits of investing in capital markets via mutual funds.

The company’s investment strategy is crafted by a team of expert fund managers and analysts who monitor market changes and manage complex portfolios. Their approach includes optimum securities selection, intensive research, and active monitoring, aiming to minimize risks while safeguarding investor interests. The goal is to outperform benchmarks with well-researched investments in Indian equities and debt markets, creating portfolios that could be blended, large cap, mid cap, or sector-oriented.

Apollo Green Energy Limited is a leading Indian company in the renewable energy sector, specializing in the engineering, procurement, and construction (EPC) of utility-scale solar, wind, and energy storage projects. Part of the Apollo Group and headquartered in Delhi, Apollo Green Energy has rapidly expanded its business, operating across eight states and focusing on green hydrogen, hybrid power solutions, and battery storage technologies. The company has demonstrated impressive revenue growth, rising from ₹324.83 crore in FY22 to ₹1,174.77 crore in FY24, and reported a net profit of ₹44.36 crore in FY25. With an order book of ₹3,500 crore and more than 400 MW of solar capacity under management, Apollo Green Energy targets further scaling to a ₹10,000 crore project portfolio and aims to achieve a 1 GW EPC order book by 2026. The company has also announced plans to establish a 500 MW solar module manufacturing facility in Madhya Pradesh and is seeking to strengthen its position in emerging areas like green hydrogen and EV infrastructure. Apollo Green Energy has attracted attention with its upcoming IPO in 2025, backed by strong investor interest and a dedicated team of over 200 professionals, as it aligns with India’s drive toward clean and sustainable energy solutions.

The National Stock Exchange of India (NSE) is one of the largest and most advanced stock exchanges in the world. Established in 1992 and recognized by SEBI, NSE revolutionized the Indian capital market with fully automated, electronic trading. It provides a transparent and efficient platform for trading in equities, derivatives, currencies, debt instruments, and more.
NSE plays a crucial role in India’s financial ecosystem by ensuring fair price discovery, liquidity, and accessibility to investors. Many companies begin their journey in the unlisted space before eventually seeking listing on major exchanges like NSE. For investors, tracking unlisted shares of potential future NSE-listed companies can offer significant growth opportunities.