Screenshot 12 removebg previewSMIFS Limited, with a legacy since 1993, in its new avatar is promoted by Mr. Rahul Kayan under the guidance and able stewardship of Mr. Ajay Kayan & Mr. Utsav Parekh. We offer entire gamut of Financial Services like Brokerage (Equity, Commodity, Currency), Portfolio Management Services, Research & Advisory, Investment Banking, Depository & Repository and Distribution (Mutual Fund, IPO’s, FPO’s). We have pan India presence and our core strength lies in Research & Advisory Services, primarily catering to Institutional & Ultra HNI Clients with a professional team of analysts. We continuously strive to uphold our motto of Legacy, Growth and Trust. Our expertise is spread to Investment banking and Underwriting, with skills in corporate finance, merchant banking, corporate advisory services, treasury management and project finance. With a basket of financial products, we are committed to empowering ‘You’ with a world of solutions for your growing needs. At SMIFS LIMITED, we are inspired by the rich heritage of the company. We believe in building long term relationships with our clients and associates by laying emphasis on our transparent and ethical dealings. We practice the noble art of finance with professionalism, skill and transparency.

Integration of capital market products, with advisory products for a complete outlook of perfect portfolio advice-with a live portfolio tracker for an effective tracking system. At SMIFS LIMITED, we redefine wealth creation for various life stages through innovative, systematic and disciplined investment planning together with superior service, commitment, and definite focus on consistent high quality. At every stage, we strive to bring perfect wealth management solutions focusing on ‘You’. We give solutions and advice for all financial investment plans. Not as means to the end of Wealth Creation, but as a reflection of ‘One Stop-One Relationship.

Continued growth, has been a constant motivating feature at SMIFS LIMITED. After having an unparalleled track record of servicing Institutions and HNIs, we are planning to foray into the growing retail segment in a big way. We would be expanding across the geography with a wide network of franchisees and Authorized Persons / Sub-Brokers. We would be offering a complete basket in financial services.

Sevantilal ShahSevantilal Shah

One of the stalwarts in the broking industry with unparalleled expertise in the capital markets. As a member of the Calcutta Stock Exchange he had been instrumental in institutionalizing stock broking business. He had served as a member of its governing board and he is the founder promoter of Stewart & Company(now SMIFS LIMITED).


Ajay Kumar KayanAjay Kumar Kayan

Under the able leadership of Mr. Kayan, C. Mackertich progressed leaps and bounds through long lasting relationships with institutions, corporate houses as well as HNIs, which he built brick by brick over the years. He along with Mr. Utsav Parkeh, visualized the synergy between Stewart and C. Mackertich groups and paved the way for the formation of Stewart & Mackertich(now SMIFS LIMITED).


Utsav ParekhUtsav Parekh

As a partner of Stewart & Company(now SMIFS LIMITED), he visualized the need for corporatisation in Investment & Merchant Banking and laid foundation of SMIFS Capital Markets Ltd. as a leading Merchant Banking company in Eastern India. Over the years he has built long lasting relationships with leading corporate houses in India and he is one of the most respected Merchant Banker in the country.


Yogendra ShahYogendra Shah

He started his career as a member of the Bombay Stock Exchange. Since 1979 he has built excellent rapport with leading corporate houses, institutions and HNIs. He visualized the need to corporatise the broking business and was one of the first few brokers who corporatised his individual membership.


We care about people and the role of work in their lives. We respect people as individuals, trusting them, supporting them, enabling them to achieve their aims in work and in life. We help people develop their careers through planning, work, coaching and training. We recognize everyone’s contribution to our success – our staff, our clients and our candidates. We encourage and reward achievement.



We share our knowledge, our expertise and our resources so that everyone understands what is important now and what’s happening next in the world of work – and knows how best to respond. We actively listen and act upon this information to improve our relationships, solutions and services. Based on our understanding of the world we actively pursue the development and adoption of the best practices worldwide



We lead in the world of work. We dare to innovate, to pioneer and to evolve. We never accept the status quo. We constantly challenge the norm to find new and better ways of doing things, We thrive on our entrepreneurial spirit and speed of response; taking risks, knowing that we will not always succeed, but never exposing our clients to risk.



Our vision is to be ‘better’ in everything we do with full commitment.

To anticipate our customers’ needs and interests to empower them and create value for them in any circumstance.




Generating more revenue requires us to develop strategic insights about our clients’ needs and goals, elevating and broadening our mutually-beneficial relationships and measuring our contribution to our clients’ businesses.




Improving our efficiency means achieving speed, quality and effective use of resources throughout all our operations.




Demonstrating our commitment to innovation requires us to continuously capture creativity in local markets and replicate this around the world. Our role is to develop and expand our capabilities, while creating services targeted to what’s new and what’s next in the world of work.



Thought Leadership

Maintaining our thought leadership means continuously anticipating future dynamics of the market and contributing to the design of social and employment systems on a global basis.



Organization and Culture

Evolving our organization and culture requires attracting and retaining high quality people for the long term. It also requires creating an environment that promotes entrepreneurship, rewards high performance and motivates us to reach our full potential.


Mr. Rahul KayanMr. Rahul Kayan

Director & CEO

Shri Rahul Kayan (38 years), is the Promoter, Director & CEO of SMIFS Limited. Shri Rahul holds a Bachelor’s Degree (BSc) in Finance & Marketing from Leonard N. Stern School of Business, New York University. He worked with Merrill Lynch – New York, before he took over the reins of the Company from his father Shri Ajay Kayan in 2009, to lead SMIFS Limited from the front into a Leading Full Scale Stock Broking House. Shri Rahul over the past 14 years has successfully transformed SMIFS Limited in one of the leading Stock Broking Entity operating from Eastern India, by successfully professionalizing the Retail Broking, Institutional Broking, Research, Fund Management and Distribution Desks.


Mr. Ashiwini Kumar TripathiMr. Ashiwini Kumar Tripathi

Managing Director

Shri Ashiwini Kumar Tripathi (53 years), is the Managing Director of SMIFS Limited. Shri Tripathi is a Post Graduate in Management with specialization in in Finance and is associated with the Group since 1991 with vast expertise in the field of Accounts, Finance, Fund Management, Structured Products, Investment Banking and Merchant Banking. Shri Tripathi is steering the growth of the Company by leading the Business of SMIFS Limited through Retail, Institutional, Private Wealth, Portfolio Management, Financial Product Distribution Desks and array of multi flagellated investment ideas and opportunities.


Sudipto_DattaMr. Sudipto Datta

Designated Director, CFO & Compliance Officer

Shri Sudipto Datta (55 years), is the Designated Director, Chief Financial Officer & Compliance Officer of SMIFS Limited. Shri Sudipto is a Honours Graduate in Economics, Post Graduate in Business Management and Post Graduate in Law and associated with the Group since 1994, having 33 years of diverse experience in Stock Broking Business and Corporate Strategy. His extensive career spans across all facets of financial services ranging from the field of Stock Broking Operations, Depository Operations, PMS Operations, Regulatory Compliance, Secretarial Compliance, IT Systems Process & Compliance, Accounts & Finance, Legal, HR & Talent Acquisition, Research & Investments. Sudipto has played an instrumental role in structuring Operational and Compliance processes from the nascent stage of the Dictates of the Market Regulator, Stock Exchange and Depositories and have built up an efficient Team by formulating effective HR Policies, in the era of dynamic and effective Regulatory Compliance.


Ms. Kathakali De

Ms. Kathakali De

Company Secretary

A B.Com (Hons.) Graduate from Goenka College of Commerce and Business Administration under Calcutta University, Master of Business Laws from National Law School of India University, Bangalore and a Member of the Institute of Company Secretaries of India.

Kathakali has 5 years of experience in the field of Compliance and Corporate Governance. She has been associated with the Group since 2021, shouldering the responsibilities with respect to Secretarial Compliances, Membership Compliances of Stock Exchanges and other Regulatory Bodies, including inspections, audits and other legal matters.

Mr. Shivaji RoyMr. Shivaji Roy

Executive Director

(Retail Sales & Business Development)

48 years, holds a Post Graduate in Business Management from Indian Institute of Planning & Management, joined the Group as President – Business Development in August 2017. He has 23 years of experience in Capital Market with core focus on various business operational functions and also in the field of Telecom & FMCG. Prior to joining the Group, he was associated with Achievers Equities as a Director and prior to Achievers, he was with Axis Securities, MF Global Sify Securities, ICIC Securities Ltd. and had also been with Airtel and Nestle India. He also oversees the Administrative, Human Resource, Risk Management related affairs of the Company along with other Business Operations and managing all associated risks. Shivaji is gifted with excellent operational and client management skills to operate collaboratively with his team members to achieve a common goal.


Mr. Awanish Chandra
Mr. Awanish Chandra

Executive Director

 (Institutional Equities, Research, PMS, IB & Advisory)

41 years, a B. Tech. Graduate from IIT Kharagpur and an MBA (Finance) from NMIMS University, joined the Group in July 2021. Awanish has rich professional experience of over 14 years in Equity Research of Corporates across different sectors, Fund Management, Portfolio Management Services, Research Publication, Digital Marketing, Techno-Commercial Operations in Automobiles, Auto & Auto Ancillary and Textiles. Awanish has worked with Centrum Broking, Securities Investment Management (SiMPL-PMS), National Stock Exchange of India Limited and Tata Motors. Prior to joining SMIFS, Awanish was associated with East India Securities as a Head of Institutional Equities (Research & Sales). Awanish is actively involved in increasing visibility of Brand – SMIFS in Public Domain.




Mr. Sharad AvasthiMr. Sharad Avasthi

Vice President


43 years, a Bachelor of Commerce and Equity Research Professional since 2005 whose experience spans over 2 decades spanning across in the field of Capital Market Advisory, Equity Research and Mutual Fund Investments, joined the Group in July 2021 and brings to the table an unbiased approach and/or a holistic view on financial markets and/or various asset classes. In his erstwhile role, Sharad was the Head of Institutional Equity Research at SPA Securities for 10 years with coverage on sectors like Cement, Sugar, Automobile, Information Technology, Pharmaceuticals, BFSI, Chemicals, Infrastructure, Fertilisers, Paints, Logistics etc. Sharad had been a regular face on Business channels like CNBC Awaaz, Zee Business and NDTV Profit. He was also a visiting faculty at NISM, Patalganga.


Mr. Kallol SahaMr. Kallol Saha

Chief Technology Officer

55 years, a B.Tech in Radio Physics and Electronics (Ranked First with First Class) from University of Calcutta and Master of Engineering in Electronics and Telecommunications from Jadavpur University, joined the Group joined the group in June’ 2021. An Senior IT Professional with almost 27 years of leadership and technical experience in developing, deploying and managing technology-driven solutions. Prior to joining this group, Kallol has worked frontline corporates viz. Philips, Airtel and Aircel. Kallol has focused himself on strong compliance and service delivery through automation and innovation and transforming the Company into a modern technology driven Organization for achieving enhanced business objectives.


Shri Bajrang Lal Agarwal

Shri Bajrang Lal Agarwal

Vice President (Operations)

47 years, a Commerce Graduate from University of Calcutta and a Member of “Institute of Chartered Accountants of India”. He is associated with the Group since June 2022. Shri Bajrang is presently Handling Stock Broking Operations of the Company. He has over 20 years of rich Experience in implementing the Policies and Procedures laid by the Stock Exchanges and Market Regulator for the compliant functioning of the Company.



Mr. CMA Amit Roy

CMA Amit Roy


(Risk & Compliance)

49 years, a Commerce Graduate from University of Burdwan and a Member of “Institute of Cost Accountants of India” is associated with the Group since 2006. Shri Amit is presently Handling Stock Broking and Portfolio Management Operations of the Company. Shri Roy has over 20 years of rich Experience in implementing the Policies and Procedures laid by the Stock Exchanges and Market Regulator for the compliant functioning of the Company.

we're the best

What Makes us Special?

We are determined to make brilliant clientele and are constantly striving to find better ways to intensify the revenue levels of our clients.

We have a diligent quality check process to make sure whatever we deliver is up to the expectations of our clients.

Our consultants have been in this business for over 30 years having worked with well-known brands of India

We know the problems you may face. So, we ensure that you receive our services without any worries.

We ensure that our client's time is utilized in an optimized manner so that their business is not hampered.

Meet the Team

We stake our growth and competitive advantage on our ability to listen to our customers and exceed their service expectations.

A Journey of a Thousand Miles begins with a Single Step

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  • 1993

    On 8th December, 1993, SMIFS Limited first incorporated as Snehdeep Trexim Limited. 

  • 1994

    In this year, the company acquired the Trading Membership for National Stock Exchange of India Limited.  Following this, the name of the company was changed to SMIFS Securities Limited. 

  • 1999

    Company received acquisition of YNS Shares & Securities along with Trading Membership in BSE Limited. It even received acquisition of Depository Participantship in Central Depository Services (India ) Limited.  In the following year, it also gained the Membership in Derivative Segment of NSE.

  • 2007

    In this year, the company’s name was changed to Stewart& Mackertich Wealth Management Limited and acquired Direct Market Facility for Institutional Clients in 2008. 

  • 2012

    By then, Shri Rahul Kayan was appointed as the Key Promoter of Stewart & Mackertich Wealth Management Limited. In 2013, the company even acquired Depository Participantship in National Securities Depository Limited  from, BHM Wealth creators Limited.  

  • 2014

    The company acquired Registration as Portfolio Manager from Securities & Exchange Board of India. In the next consecutive three years, the company acquired Depository Participantship in National Securities Depository Limited from C. Mackertich Limited, Registration as Research Analyst from Securities & Exchange Board of India and Foray into Retail Stock Broking. 

  • 2019 to Present

    In 2019, Shri Rahul Kayan was appointed as the Chief Executive Officer of Stewart & Mackertich Wealth Management Limited and the name was changed to SMIFS Limited.

awards and industry recognition

  • AWARD-5
  • AWARD-4
  • AWARD-3
  • AWARD-2
  • AWARD-1-3