About US

Khambatta Securities Ltd, established in 1918, headquartered in the central business district in South Mumbai. We provide entire gamut of financial services and specialized in broker-dealer services in cash equity and equity derivative markets. Our Institutional broking business is empanelled with reputed institutions. We are the member of National Stock Exchange and Bombay Stock Exchange.


Our Team

Noshir Khambatta (CMD)
Sunil Shah (Director)
Satish Betadpur(CEO/Head of Research)

Satish Betadpur, CFA has been working in the financial services industry for more than 22 years. He started his financial services career at TIAA-CREF, one of the worlds largest private pension fund based out of New York City. At TIAA-CREF, he worked in various roles including Equity, Fixed Income, Derivatives and Alternate Assets, rising to the level of Managing Director at the firm. Since relocating back to India in 2004, he has managed multiple businesses within the financial services sector. Satish is a Chartered Financial Analyst (CFA), obtaining his charter in 1996. He holds a Bachelor in Mechanical Engineering, Masters in Mechanical Engineering and Masters in Computer Science from Missouri University of Science and Technology, Rolla, Missouri. He also obtained a MBA in Finance & International Business from University of Illinois, Urbana-Champaign.

Sudhir Joshi (Executive Director)

Born on 15th August 1951, Mr. S K Joshi is a member of the Institute of Chartered Accountants of India. He holds an MBA degree from the University of Hull, UK. He is Ex-Director (Finance) of Bharat Petroleum Corporation Limited (BPCL), a fortune 500 company, engaged in oil and gas sector. He has a vast experience in the industry of over 3 decades. Besides being a head of Finance function, he was looking after the Information Technology and Investor Relations. He has extensively dealt with Global and Domestic Institutional Investors for over two decades. He has closely followed the Investment process of the Foreign Institutional Investors (FII) and Pension Fund in managing there Long Term investments. He was instrumental in formulating the Risk Management policy for BPCL & setting up the derivatives desk for hedging the refining margins. Currently, he is an Executive Director with Khambatta Securities ltd, heading Wealth Management / Investment Advisory Services.

Fathima Khan (Assistant Vice President )

Fathima has over 3 years experience in research, principally into the capital markets and equity research. After training with a pharmaceutical company to be a product manager, Fathima joined the independent research firm IIR Group Plc, where she gained experience as a research analyst specializing in the Pharmaceutical sector until the end of 2010. Currently Fathima looks at the Indian Pharmaceutical sector as AVP, Institutional Research at Khambatta Securities Limited. Fathima obtained a BSc degree from Mumbai University in Microbiology and a MBA in Biotechnology Business Management from the South Indian Education Society College Of Management Studies. She also obtained a Post Graduate Diploma in Securities Market Program from Indian Institute of Capital Markets.

Devang Bhatt (Assistant Vice President )

Devang Bhatt has been working for about five years in the field of Equity Research. During his previous stint with IIR Group Plc he has worked as a Senior Equity Research Analyst covering Telecom & IT companies. He has not only successfully led and handled a team of analyst but also played a vital role in introduction of various value added research products & models in the organization. He holds a Bachelors in Commerce from Mumbai University and has obtained a MBA in Finance from NL Dalmia Institute of Management Studies and Research, Mumbai .

Ronak Jhaveri (Assistant Vice President)

Ronak Jhaveri has over four years experience in research, commodities and equities. On completing his MBA, he joined Anand Rathi Commodities as an associate. Spotting his abilities to analyse data and convert them into a trade, he was soon promoted to a Research Analyst where he covered ferrous and non-ferrous metals. With a strong academic background and as a topper in Finance, he was marked by the Reserve Bank of India for the summer internship programme, where he researched the global financial crisis and analyzed the asset quality of Indian banks. Currently he analyzes large-cap stocks in Metals and Mining as AVP, Institutional Research at Khambatta Securities. He is an MBA Finance from the N. L. Dalmia Institute of Management Studies and Research, Mumbai, a commerce graduate of Mumbai University and a CFA level-2 aspirant.

Raj Jha (Assistant Vice President)

Raj Kumar Jha, a Master in Economics and MMS in Finance from NL Dalmia Institute of Management Studies and Research, has experience of more than five years in Equity Research. His previous assignment was with BNK Capital where he worked as a Senior Equity Research Analyst covering BFSI & Infrastructure sector. Prior to BNK Capital he was in CNI Research Limited where he successfully led a team of research associates while playing a significant role in globalization of the company.

Ronak Jhaveri (COO)

Ronak Jhaveri has over 10 years’ experience in capital markets, research, commodities and equities. On completing his MBA, Ronak joined the commodities team at one of India’s leading brokers Anand Rathi as an associate. Based on his ability to analyse data and convert them into trades, Ronak was soon promoted as a Research Analyst, covering ferrous and non-ferrous metals. A topper in Finance with a strong academic background, Ronak was chosen by the Reserve Bank of India for its summer internship programme, where he researched the global financial crisis and analysed the asset quality of Indian banks. At Khambatta Securities, Ronak currently heads the Merchant Banking division from the Mumbai office and looks after the mutual fund distribution and advisory services as Chief Operating Officer. He is an MBA Finance from the N. L. Dalmia Institute of Management Studies and Research, Mumbai, a commerce graduate from Mumbai University, and a CFA level-2 aspirant.

Ritwik Bhattacharjee(Assistant Vice President)

Ritwik Bhattacharjee has over 18 years' experience in research, consulting, investment advisory, and knowledge services. Ritwik has successfully set up businesses, built and led large teams, and managed research operations, global delivery, client engagement, and people in the financial services, consulting, and knowledge services sectors. His broad areas of expertise are investment research, business research, industry research, business modelling and valuation, and development consulting. Ritwik founded Impaxsus, a development research and consulting firm operating in the CSR, sustainable business and not-for-profit sectors. Earlier, Ritwik set up the Indian subsidiary and research practice of Independent International Investment Research Plc, one of the UK's leading independent investment research providers. At Khambatta Securities, Ritwik leads research, execution of valuation/business advisory projects, and other knowledge initiatives. He holds an MBA degree with Finance specialisation from the Indian Institute of Social Welfare & Business Management, Kolkata, and an MSc in Economics & Econometrics from Calcutta University.

Chandan Mishra(Company Secretary, Deputy Manager)

Chandan Mishra has 6 years’ experience in merchant banking during which he has managed a number of IPOs and over 100 different transactions including valuation of securities and businesses. He is an Associate Member of the Institute of Company Secretaries of India and a commerce graduate from the University of Delhi. After working 3 years with Sarthi Group, a leading investment banking and financial services company, Chandan joined Khambatta Securities in 2017. His current role includes supervision of due diligence for the Merchant Banking division, managing regulatory compliance of the company, and liaising with regulators such as SEBI, RBI and the stock exchanges.

Vinay Pareek(Deputy Manager)

Vinay is a member of the Institute of Company Secretaries of India. He has over 5 years of experience in Merchant Banking. He started his career in Merchant Banking as a CS article with Sarthi Capital Advisors Pvt Ltd where he was later absorbed as a permanent employee because of his skills and a never ending pursuit for new and different tasks. He has handled over 15 IPOs apart from Further Issues, Buyback, Direct Listing, Migration, etc. He was entrusted with the task of due diligence of the client companies while closely understanding their businesses. Currently he is looking after the various Merchant Banking activities ranging from IPO, M&A to Valuations in Khambatta Securities Ltd. He has done SEBI-Research Analyst with multiple other Certification courses from NSE.