Nirmal Bang Franchise

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Nirmal Bang Sub Broker


Offline Presence


Market Reputation


Brand Equity


Revenue Sharing


Initial Costing



  • Wide Offline Presence
  • Decent Brand Equity
  • Multiple Investment Products


  • Okayish Revenue Sharing

Nirmal Bang Franchise business is pretty cliche in nature and works pretty much the same way as it does for any other stockbroker. As far as brand recognition is concerned, Nirmal Bang has a reasonable brand recall in states such as Gujarat, Maharashtra, Rajasthan, Madhya Pradesh along with few another close by states.

In other areas, the broker is working hard to bring wide offline coverage and business partners on board.

In this detailed Nirmal Bang Franchise review, we will have a look at how this business works, what are the associated costs, potential revenue opportunities, scale, growth, benefits etc. Hopefully, you will be able to figure out whether it makes sense to go ahead with this partnership or not.

Nirmal Bang Partnership Models

Nirmal Bang believes in simple business with a strong structure, and thus, offers only one model. Nirmal Bang Franchise model is like a typical partnership, wherein the sub-broker enters into an agreement to provide business and generate revenue, which is then shared as per the pre-defined norms.

We understand and value the equation of our relationship. which is why we offer our sub-broker / authorised person / remisier equal independence and status that our partner merits,” the company says.

However, before tagging someone as a partner, Nirmal Bang wants them to qualify on a few grounds such as having a deep understanding of the financial markets, as well as, the products. Those looking to get Nirmal Bang Franchise should know about different financial instruments such as Equity, Derivatives, Currency, IPO, mutual funds and so on.

It would not be wrong to say that the broker would lend its brand name only to those who already have multiple years of experience along with a strong understanding.

Nirmal Bang may be reluctant in offering the partnership to the fresh entrants as they might not be able to do the justice to the company’s status and justify the revenue sharing.

Nirmal Bang Franchise Review

Nirmal Bang is one of the leading full-service stockbrokers in India offering diversified services and support to institutional as well as the retail clients. It was incorporated in 1986. The company offers products such as equity, commodities, currency derivatives, IPO, mutual funds, insurance, PMS and depository services.

The stockbroker 3,000 sub-brokers across the country. The company started with partner association program many years back that has now transformed into a strong network of sub-brokers.

Nirmal Bang Franchise Revenue Sharing

Since the broker offers the partnership model, the revenue ratio is closer to 50:50. The idea behind sharing 50% of the revenue is that the company considers every sub-broker as a partner rather than a mere association.

At the same time, in case you are able to bring in reasonable growth on a continuous basis for the broker, in terms of client acquisition and brokerage revenue, you can certainly negotiate with them towards increasing your share in the overall partnership.

You’re More Than Just A Business Associate, You’re An Equal Partner,” says the tagline on Nirmal Bang.

Nirmal Bang Franchise Offerings

Nirmal Bang offers help in setting up the office including the branding and all business applications. To train and get through the whole process, there would be an onboarding manager for the partner, as well as, the employees. It would be the responsibility of the onboard manager to help the new employees get through and understand the important processes and the online modules offered.

Also, there would be a local relationship manager to help in building a business plan and activity calendar. Moreover, the relationship manager would also help in executing the plan to acquire new clients and train the employees.

Service Support

  • Dedicated partner support desk to cater service support
  • Client reports and free ODIN trading terminal
  • Access to centralized web-based back office
  • Share market research tips, reports and recommendations

Along with these, Nirmal Bang also makes available certain offers to the sub-brokers. These are – Cash-back on Brokerages; Reduced Brokerage rates; Increased credit period; Increased credit limit; Reduced margin money; Reduced deposits

Nirmal Bang Franchise Eligibility

In case you are looking to set up your business with this full-service stockbroker, you will need to make sure that you comply with the following eligibility criteria:

  • An entity (Individual, Company or Partnership firm) aspiring to get Nirmal Bang Franchise must have a good track record and reputation in financial services/other business/social circle with a good client base.
  • A minimum 1-2 years of experience in selling financial products as a Main broker/ Sub broker/Remisier/Mutual fund distributor/Insurance Advisor/Financial planner or an employee of existing Broker/Sub-broker.
  • You will need to invest a nominal amount as an initial deposit and there will be a need to invest continuously in infrastructure and people in order to run your business operations.

There could be other requirements added by this full-service stockbroker on a time to time basis and those can change on a continuum level too. However, those won’t be that comprehensive that can make or break the deal for you.

Nirmal Bang Franchise Costs

For Nirmal Bang franchise, some initial investment would be required just like in any other business. Although Nirmal Bang does not mention any minimum investment amount, it could be anywhere in the range of ₹50,000 to ₹2.5 lacs.

The initial investment would include certain portion towards the refundable security deposit. In case, the sub-broker does not want to continue, the security amount would be refunded.

Rest of the amount can be used by the sub-broker for various purposes such as setting up the front office, a must at Nirmal Bang.

Nirmal Bang Franchise Registration

  • Before starting any other formalities, one would have to fill the lead form giving some basic information such as name, address, and contact number and so on:
Sub Broker Business
  • After receiving the contact number, one of the representatives would call the interested candidate to gather more information along with verifying the details and interest in sub-brokership.
  • Once the verification process is done, a sales representative from Nirmal Bang would approach for a personal meeting.
  • The member should discuss all the details with the sales representative to get a hint of expectations, work as well as terms of the agreement
  • Once both the parties are through with the discussion and agreement, required documents would be needed along with the initial investment proofs.
  • These documents would then be verified by the full-service stockbroker.
  • Once the documents are verified, activation would be done. The activation process usually takes anywhere between 3 to 6 days depending on the turnaround time.

Nirmal Bang Franchise Documents

Here is a detailed list of the documents that you would need in order to set up your partnership with this full-service stockbroker. Although, you can use some of these documents interchangeably as well:

  • Identity Proof
    • PAN card
    • Aadhaar Card
    • Passport
  • Address Proof
  • DOB Proof
  • Academic Certificate
  • Employment/Experience Proof
  • Cancelled Cheque or Bank statement
  • Registration certificate with SEBI/stock exchange
  • Passport Size photos
  • Infrastructure proof

Nirmal Bang Franchise Benefits

Here are some of the advantages you will get in case you choose to become a sub-broker/franchise/remiser partner with Nirmal Bang. Here are those listed below:

Strong Brand NameWith multiple years of experience and a strong client base, Nirmal Bang is one of the most preferred stock broking companies in India. The stockbroker believes in a client-focused approach, and therefore, thrusts for the long-term relationship between the client and the brokers.

The same values are communicated to the employees at the sub-broker office during training, thereby helping them to build a strong relationship with the client.

InfrastructureNirmal Bang has one of the most advanced and dedicated infrastructures for trading. This helps the sub-brokers in offering quality services right from executing the trade to offering research reports and other information. The team is also trained to offer highly personalized solutions and greater responsiveness.

Research SupportClients always require good recommendations and research support from the analysts sitting at the helm or research division. Nirmal Bang has a dedicated team to disseminate the recommendations, be it technical or fundamental, to all partners.

You can read this review in Hindi.

Product ProfileNirmal Bang has a wide array of products such as Equity, currency, commodity, currency and so on to make sure that sub-brokers always have something to offer to each client as per their requirements and the term of the investment period.

It offers product support in NSE, BSE, NSE F&O, BSE F&O, NSEC, MCXC, BSEC, MCX, NCDEX, NSDL, CDSL, IPO, Mutual Fund.

Customer Support TeamIn case, the clients want dedicated support related to the fund transfer, withdrawal, re-KYC and various other things, they can be directed to the customer support team, who is skilled in offering solutions to such problems.

Online Fund Transfer Facilitylike others Nirmal Bang also provides an online fund transfer facility to the sub-brokers and to the clients of the sub-broker.

In case you are looking to open a sub-broker or master franchise business through Nirmal Bang, then let us arrange a callback for you.

Just fill in the details below and you will get a call from B2B onboarding team:

Sub Broker Business


Nirmal Bang Branches

Nirmal Bang is currently present in the following states and corresponding cities and towns:



Broker Name
Nirmal Bang Franchise
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