Definedge Securities names Hemant Luthra Chairman in board overhaul

Pune-based brokerage and wealth-tech firm Definedge Securities has appointed Hemant Luthra as Chairman and inducted two additional directors — Ajay Srivastava and D Prasad — to its Board, the company announced on Tuesday, May 5, 2026.

The board expansion comes as the company looks to scale its positioning as a full-service wealth-tech platform integrating brokerage, analytics, and investor education.

Luthra brings over four decades of cross-sector experience spanning technology, private equity, telecom, aerospace, and manufacturing. A former IBM professional, he later served as CFO and COO of an industrial conglomerate and spent two decades at Mahindra & Mahindra, where he chaired Mahindra CIE. He holds a degree from IIT Delhi and completed Harvard Business School’s Advanced Management Program.

Ajay Srivastava, founder of Dimensions Corporate Finance Services, joins the board with more than 30 years in transaction banking, investment banking, capital markets, and corporate restructuring. He began his career at Citibank before establishing his own firm, which became a notable player in corporate financial restructuring in India.

The third inductee, D Prasad, is described as an ultra-HNI investor with a track record of early-stage backing in high-growth businesses across sectors.

Co-founders Prashant Shah and Rajesh Badiye retain their existing roles. Shah continues as CEO, overseeing the firm’s research-driven investment philosophy, while Badiye leads product development and trading platform infrastructure.

Founded in Pune, Definedge Securities offers retail investors and traders a suite of tools covering analytics, brokerage, and market education. The company follows a product-first approach, prioritising education and research tools before trade execution.

The board restructuring signals a push toward stronger institutional governance as the firm targets high-value investor segments and broader market expansion.