ASEL Financial Services Limited (formerly Ahmedabad Stock Exchange)
- Unlisted share
- Investment & Holding
- ISIN INE356I01029
Key details
- Company
- ASEL Financial Services Limited (formerly Ahmedabad Stock Exchange)
- ISIN
- INE356I01029
- Sector
- Investment & Holding
- Type of share
- Unlisted equity share
- Indicative price per share
- On request
- Price last updated
- 12 Oct 2026
- Minimum quantity
- Confirmed by the desk
- How you hold it
- In your own demat account
- Enquiries
- GrowFast desk, on WhatsApp
Indicative prices, illiquid shares. Prices are indicative and can change without notice. Unlisted shares are illiquid: you may not be able to sell when you want to, or at the price shown.
Company
About ASEL Financial Services Limited (formerly Ahmedabad Stock Exchange)
This is the company that used to run the Ahmedabad stock exchange, one of India's oldest. It was formed in March 2005 to take over the exchange from the brokers' association that had run it, and has since been renamed ASEL Financial Services Limited. Its main asset today is a 54.27% stake in ACML Capital Markets (formerly ASE Capital Markets), a stockbroking firm it set up so its member brokers could trade on NSE and BSE, with which it shares the Kamdhenu Complex building in Ahmedabad. Its shares are held by its former member brokers and other investors; no single promoter was identified.
Written from: acml.in, sebi.gov.in
Listing status. Not a listed company. SEBI allowed it to exit the stock-exchange business by an order dated 2 April 2018; it no longer operates an exchange. SEBI exit order in respect of Ahmedabad Stock Exchange Limited
Financials
Ask for the numbers before you decide.
Revenue, profit, book value and the latest annual report are shared by the desk on request, so what you see is the current set and not an old figure left on a web page.
Ask for the financials- Sector
- Investment & Holding
- ISIN
- INE356I01029
- Year of incorporation
- 2005
- SEBI order on The Stock Exchange – Ahmedabad (Corporatisation and Demutualisation) Scheme, 15 September 2005
- Headquarters
- Ahmedabad, Gujarat
- Subsidiary
- Holds 4,00,00,000 shares (54.27%) of ACML Capital Markets Limited
Read from: ACML Capital Markets Limited annual report 2025-26 (subsidiary), unless another source is shown on a card.
Corporate calendar
Events
- 2 Apr 2018Regulator orderSEBI passed the exit order letting Ahmedabad Stock Exchange Limited leave the stock-exchange business, on condition that it drops "stock exchange" from its nameOpen
Reports and filings
Annual reports and results
Each link opens the document where its publisher keeps it.
- FY2025-26ACML Capital Markets Limited (subsidiary) Annual Report 2025-26
- FY2024-25ACML Capital Markets Limited (subsidiary) Annual Report 2024-25
- FY2023-24ACML Capital Markets Limited (subsidiary) Annual Report 2023-24
- April 2018SEBI exit order in respect of Ahmedabad Stock Exchange Limited (2 April 2018)
- 2005SEBI order approving the exchange's corporatisation and demutualisation scheme
Before you buy
Six things to check on any unlisted share.
The same list applies to every stock. None of it is advice on this one.
The company's latest financials
Revenue, profit and debt for the last three years, from its audited annual report. Ask the desk for the most recent set.
What the price implies
Compare the price per share with earnings and book value per share, and with listed companies in the same business.
Whether a listing is planned
A company may file for an IPO, delay it or never list. A listing, its timing and its price are never certain.
How you would sell
There is no exchange for these shares. You sell by finding a buyer, which can take time and may be at a lower price.
Lock-in after a listing
Shares bought before an IPO are usually locked in for a period after the company lists. Confirm the current rule before you buy.
Tax on your gains
Unlisted shares are taxed differently from listed ones. Check your position with a tax adviser.
Questions
What buyers ask about this stock.
Not answered here? Ask the desk.
Inquire about ASEL Financial Services Limited (formerly Ahmedabad Stock Exchange) on WhatsAppIs the price shown for ASEL Financial Services Limited (formerly Ahmedabad Stock Exchange) final?
No. It is an indicative price per share. The desk confirms the price and the quantity available when you inquire, and the confirmed price is the one you deal at.
How do I buy these shares?
Press Inquire. It opens a WhatsApp chat with the desk, with this stock already named. After the price and quantity are agreed, a 10% advance locks the deal. Once your KYC is complete you pay the balance, and the shares are transferred to your demat account.
Do I pay anything on this website?
No. No payment is taken and no order is placed on this site. Payment details are shared by the desk only after the deal is agreed.
What do I need before I can buy?
A demat account in your name and the documents for KYC: your identity and demat account details are verified before any deal, as the regulations require.
Can I sell my ASEL Financial Services Limited (formerly Ahmedabad Stock Exchange) shares to GrowFast?
GrowFast buys as well as sells. Press Inquire and tell the desk how many shares you hold; it will come back with what it can offer.
How do I sell ASEL Financial Services Limited (formerly Ahmedabad Stock Exchange) shares I already hold?
Tell the desk how many you hold. If a price is agreed, you transfer the shares from your demat account with a delivery instruction to your depository participant (a DIS, or its online equivalent), and payment follows as agreed with the desk.
Is there a lock-in if the company lists?
Shares held before an IPO are generally locked in for a period after the listing under SEBI's rules, which have changed over time. Ask the desk for the rule that applies today before you buy.
Is buying unlisted shares legal in India?
Yes. Shares of an unlisted company can be bought and sold privately and are transferred between demat accounts. They are not traded on a stock exchange, so the protections of an exchange do not apply.
What is the minimum I can buy?
It differs by stock and by what the desk holds at the time. The desk confirms the minimum quantity when you inquire.
What is an ISIN?
The 12-character code that identifies a security. It is how your depository knows exactly which share is being transferred to your demat account.
Why are unlisted shares riskier than listed ones?
Prices are indicative and can change without notice. Unlisted shares are illiquid: you may not be able to sell when you want to, or at the price shown.
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Risk disclosure
Prices on this site are indicative, quoted per share, and are not an offer to buy or sell. The price and quantity for any deal are confirmed by GrowFast's desk at the time you deal.
Unlisted, pre-IPO and delisted shares are not traded on a stock exchange. They are illiquid, their prices can move sharply, and you may be unable to sell them when you wish or at all. A company that is expected to list may not do so.
Nothing on this site is investment advice or a promise of returns. Past prices do not predict future prices. Consider your own circumstances, and take independent advice, before you invest.
Inquire opens a WhatsApp chat with GrowFast. No payment is taken and no order is placed on this site.
GrowFast is not affiliated with, sponsored by or endorsed by ASEL Financial Services Limited (formerly Ahmedabad Stock Exchange). Its name and logo belong to their owner and are shown only to identify the company. Figures about it come from published sources and have not been audited by GrowFast. See the Terms and Conditions.