Orbis Financial Share Price 2026: Custody and Clearing Business, FY26 Financials, Valuation and IPO Outlook
When a foreign fund buys shares in India, someone has to hold those shares safely, settle each trade and report the holdings. Orbis Financial Corporation does that work as one of the few independent custodians registered with SEBI that is not part of a bank. It also clears trades for brokers and foreign investors, keeps fund accounts and runs trusteeship services. The business sits in the plumbing of the capital market, which makes its income steady in some ways and sensitive to trading volumes in others. That mix explains much of the debate around the Orbis Financial share price. FY26 brought lower revenue but slightly higher profit, as income from client cash collateral fell while costs came down. This article explains how Orbis earns its money, reads the filed numbers, puts the We Grow Wealth quote in context and sets out where a listing stands.
Key Takeaways
- Independent custodian since FY2009: Orbis was incorporated in 2005 and holds SEBI custodian registration IN/CUS/020, serving 439 FPIs and 444 PMS clients as on 30 September 2025.
- Profit held up in FY26: Consolidated profit after tax was about ₹209.70 crore in FY26, against ₹204.63 crore in FY25, even as revenue from operations fell about 12 percent.
- Indicative quote: The Orbis Financial share price at We Grow Wealth is ₹328 as on 27 October 2026, for a lot of 100 shares.
- Valuation at our quote: On about 12.54 crore shares, ₹328 implies a market value near ₹4,114 crore, roughly 19.6 times FY26 profit.
- No IPO filing yet: We found no draft red herring prospectus filed with SEBI by Orbis as of 27 October 2026.
What is the Orbis Financial share price today?
Orbis Financial Corporation is an unlisted public company. Its shares change hands through privately negotiated deals, so every Orbis Financial share price must carry a date and a source.
| Parameter | Detail |
|---|---|
| Company | Orbis Financial Corporation Limited |
| Indicative price | ₹328 per share |
| Price basis | We Grow Wealth quote as on 27 October 2026 |
| Lot size | 100 shares |
| Minimum investment | ₹32,800 (100 shares at ₹328) |
| Face value | ₹10 |
| ISIN | INE155K01013 |
| Shares outstanding (FY26) | About 12.54 crore |
| Implied market value | About ₹4,114 crore |
Indicative price as on 27 October 2026, based on the We Grow Wealth quote. Unlisted shares are not traded on any stock exchange and are not regulated by SEBI. The final price is agreed at the time of each deal.
The latest quote, lot size and company data are kept current on our Orbis Financial unlisted share price page.
What has moved the quote
Buyers tend to price Orbis on market activity as much as on profit. When derivatives volumes cooled and FY26 revenue fell, sentiment towards the stock softened even though profit edged up. Funding rounds and any news on a listing can also shift demand quickly in a thinly traded share.
How does Orbis Financial make money?
Orbis describes itself as a provider of securities services. In practice that covers six related lines, each registered separately with SEBI or the exchanges.
Custody and fund accounting
As a custodian, Orbis holds securities on behalf of institutional clients, settles their trades and handles corporate actions such as dividends and bonuses. Custody fees are usually charged as a percentage of the average assets under custody. Fund accounting and administration add further fee income from the same clients.
Professional clearing
Orbis is a professional clearing member on the main Indian exchanges and clearing corporations. It clears trades for trading members and foreign portfolio investors who do not clear for themselves. Clients place cash collateral as margin, and Orbis earns interest on that collateral as treasury income.
Depository, registrar and trusteeship services
The company is also a depository participant with both depositories and a registered share transfer agent. Its wholly owned subsidiary, Orbis Trusteeship Services, acts as a trustee. A second subsidiary, Orbis Financial Services (IFSC), is preparing capital market operations at GIFT City.
Who the clients are
ICRA reported that, as on 30 September 2025, Orbis served 439 FPIs, 731 FDI and FVCI clients, 444 PMS providers and 246 AIFs. It also served 3,621 high-net-worth and NRI clients and 82 corporates. The breadth is wide, but a small group of large clients still drives a large share of income.
Where does the revenue really come from?
The single most useful fact about Orbis is that treasury income and professional clearing fees together formed about 62 percent of gross revenue in H1 FY2026. That share was 63 percent in FY2025 and 71 percent in FY2024, according to ICRA. Custody fees are the second-largest stream and have been growing.
Why cash collateral matters so much
Treasury income depends on how much cash clients leave as margin, and on interest rates. ICRA noted a 20 percent fall in client cash collateral between September 2024 and September 2025. The cause was weaker derivatives trading after SEBI tightened rules on index derivatives. Lower interest rates added to the pressure.
The shift towards fees
The company has been working to raise the share of fee income from custody and fund services. Fee income depends on assets under custody, which tend to be stickier than trading volumes. If this shift continues, earnings should become less sensitive to swings in derivatives activity.
Orbis Financial financials: what FY24 to FY26 show
| Measure (₹ crore, consolidated) | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue from operations | 424.24 | 556.16 | 487.92 |
| Profit after tax | 141.28 | 204.63 | 209.70 |
| Earnings per share (₹) | 11.61 | 16.47 | 16.72 |
| Net worth | 688.23 | 899.60 | 1,100.67 |
| Borrowings | Nil | Nil | Nil |
Consolidated figures as reported in the company's annual accounts; FY24 and FY25 match the figures published by ICRA in February 2026.
Lower revenue, higher profit
FY26 revenue from operations fell about 12 percent, yet profit rose about 2.5 percent. ICRA linked the profit resilience to lower commission and referral payouts and tighter employee costs. Referral expenses have eased as clients brought in through agents have matured and more business is sourced directly.
Returns and capital
ICRA put return on net worth at 25.8 percent in FY2025 and 20.8 percent in H1 FY2026. Net worth crossed ₹1,100 crore by March 2026, and the company had no fund-based borrowings. In February 2026, ICRA upgraded its long-term rating to [ICRA]A+ (Stable) from [ICRA]A (Stable).
Is the Orbis Financial share price high or low against earnings?
At the We Grow Wealth quote of ₹328, Orbis is valued at about 19.6 times FY26 earnings per share of ₹16.72. Book value per share works out to about ₹87.8, so the price is about 3.7 times book.
How to read these multiples
A multiple near 20 times profit assumes that recent earnings are broadly sustainable. The key question is how much of that profit rests on treasury income that could shrink again if trading volumes fall. A buyer who expects fee income to keep growing will see the Orbis Financial share price differently from one who focuses on collateral income.
What is not in the price
The multiples above use reported profit only. They do not reflect any higher capital needs from proposed margin rules, or any costs of starting operations at GIFT City. Both could change returns on equity in FY27.
Orbis Financial IPO: is a listing on the way?
Orbis has raised equity from private investors in recent years, which widened its shareholder base. Promoter Atul Gupta held about 28 percent as on 30 November 2025, according to ICRA. However, we found no draft red herring prospectus filed with SEBI as of 27 October 2026, and the company has not announced a listing timetable.
Signals of real progress
The clearest signs would be the appointment of book-running lead managers, a board resolution on an issue and a draft prospectus on SEBI's website. Until then, any expected listing date is speculation.
Lock-in after listing
If Orbis lists, shares bought before the IPO are locked in for 6 months from the date of IPO allotment. Holders cannot sell on the listing day.
What are the main risks in Orbis Financial shares?
Dependence on trading activity
With treasury and clearing income above 60 percent of revenue, a further slowdown in derivatives volumes or lower interest rates would hit income directly.
Client concentration
The top 10 custody clients held 34 percent of assets under custody in September 2025. The top five clearing clients accounted for 34 percent of cash collateral in November 2025. Losing one large client could move results sharply.
Competition and scale
Global custodian banks dominate Indian custody, especially for FPIs. Orbis held a market share of about 0.55 percent of industry assets under custody as on 30 September 2025.
Regulation and operations
A draft regulation proposes raising the cash margin that professional clearing members must hold against bank guarantees above the current 25 percent. Errors in high-volume settlement could also cause losses and reputational damage.
Liquidity and tax
Unlisted shares can be hard to sell quickly. Gains on shares held for more than 24 months are taxed at 12.5 percent without indexation, with no ₹1.25 lakh exemption. Shorter holdings are taxed at your slab rate.
Who Orbis Financial suits, and who it does not
Orbis may interest investors who want exposure to the infrastructure of Indian capital markets rather than to a single lender or broker. It suits those who can accept earnings that rise and fall with trading volumes and who can wait without a fixed exit date.
It is a poorer fit for anyone who needs to sell within a year or two, or who wants smooth annual growth. It also asks for patience with disclosure, because private-market holders see annual accounts rather than quarterly results. If you decide to buy, We Grow Wealth confirms the quote, takes payment and transfers the shares to your demat account off-market. Our guide to pre-IPO shares in India explains the steps and checks in more detail.
Questions the FY27 numbers will answer
- Has client cash collateral recovered from its August 2025 low, and is treasury income growing again?
- Is custody fee income growing faster than clearing income, so that fees make up a larger share of revenue?
- How much capital has the new margin rule for clearing members tied up?
- Has the GIFT City subsidiary begun to earn revenue, or is it still adding cost?
The answers will shape how buyers view the Orbis Financial share price over the coming year.
Frequently Asked Questions
What is the Orbis Financial share price today?
The indicative We Grow Wealth quote is ₹328 per share as on 27 October 2026, for a lot of 100 shares. Unlisted prices are agreed privately, so confirm the quote at the time of each deal.
What does Orbis Financial Corporation do?
It is a SEBI-registered custodian and professional clearing member. It also offers fund accounting, depository, share transfer and trusteeship services to FPIs, PMS providers, AIFs and other institutions.
Why did Orbis Financial's revenue fall in FY26?
Revenue from operations fell to about ₹487.92 crore as client cash collateral and treasury income declined. Weaker derivatives trading after SEBI's tighter rules and lower interest rates were the main causes, according to ICRA.
Is Orbis Financial planning an IPO?
No draft prospectus had been filed with SEBI as of 27 October 2026, and the company has not announced a timetable. A listing may happen later or may not happen at all.
What is the minimum investment in Orbis Financial unlisted shares?
At ₹328 per share and a lot of 100 shares, the minimum is ₹32,800. Both the price and lot size can change, so confirm them before payment.
How are gains on Orbis Financial shares taxed?
If held for more than 24 months, gains are taxed at 12.5 percent without indexation and without the ₹1.25 lakh exemption. Gains on shorter holdings are taxed at your income slab rate.
Disclaimer: This content is for information and education only and is not investment advice or a recommendation to buy, sell or hold any security. Unlisted shares are not traded on any stock exchange and are not regulated by SEBI; investors do not get exchange or SEBI investor-protection or dispute-resolution mechanisms. Prices shown are indicative, are negotiated privately, may differ across platforms and are not guaranteed. Unlisted shares can be hard to sell and you may lose part or all of your investment. An expected IPO may be delayed or may not happen; if the company lists, pre-IPO shares are locked in for 6 months from the date of IPO allotment. Tax treatment is as per law on the date of publication and may change. We Grow Wealth earns a margin on the difference between its buy and sell prices. Please consult a qualified adviser before investing.