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GoldenPi vs Wint Wealth
Both are SEBI-registered OBPPs, but they are built for different investors. GoldenPi is India's oldest bond platform and runs a broad marketplace spanning everything from G-secs to speculative-grade NCDs; Wint Wealth curates a narrower, bonds-first shelf and co-invests in what it lists. Here is the honest side-by-side — including the SEBI penalty on each and the bond that actually defaulted.
Platform facts verified July 2026
| GoldenPi | Wint Wealth | |
|---|---|---|
| Core product | Broad fixed-income marketplace: listed corporate/NBFC bonds & NCDs, NCD public issues, G-secs, SGBs and corporate FDs — built to filter and comparison-shop by yield, rating and tenure. | Bonds-first and curated: a hand-picked shelf of NBFC/corporate bonds and securitised debt instruments (SDIs), not a full marketplace. |
| SEBI / OBPP registration | Registered — GoldenPi Securities Pvt Ltd, INZ000310732, NSE 90331 · BSE 6809. Founded 2017; first debt-broker licence under SEBI's OBPP framework (Jan 2023). | Registered — Wint Securities Pvt Ltd (formerly Fourdegreewater Services Pvt Ltd), INZ000313632, NSE OBPP. |
| Minimum investment | From ~₹10,000 for most listed bonds; some wholesale-style NCDs need ~₹1 lakh tickets. | From ₹1,000 (as marketed). |
| Bond shelf & credit profile | Widest shelf of the two, but it reaches deep into speculative grade — headline yields 'as high as 15%' include sub-AAA paper. A TruCap Finance NCD distributed via GoldenPi (issued BBB, later cut to 'D') defaulted in July 2025. | Narrower but curated, skewing sub-AAA (A to AA NBFC/securitised paper, typically secured); no comparable retail default reported on its shelf to date. |
| Advertised returns | Up to ~13.8% on the home page and 'as high as 15%' on corporate bonds; individual listings around 12–12.6% pre-tax YTM. | 9–12% pre-tax YTM on bonds (issuer- and rating-dependent). |
| What you really pay | "Zero brokerage" to the investor; revenue is an embedded, per-bond-undisclosed price spread plus B2B arranger/listing fees from issuers. | "Zero brokerage" too; earns an embedded per-bond price spread plus issuer distribution fees. |
| Exit before maturity | Hold-to-maturity in practice; secondary-market liquidity for retail lots is thin. | Hold-to-maturity in practice; retail secondary-market liquidity is thin. |
| Regulatory / material flags | SEBI penalty of ₹4.5 lakh on GoldenPi Securities and its directors (order 31 Jul 2025) for routing trades outside the mandatory RFQ mechanism and advertising without exchange approval. Ownership in flux: Oxyzo (OfBusiness) announced a pending acquisition in May 2026. | SEBI penalty of ₹1 lakh (21 Nov 2025, statutory minimum) for routing most bond trades OTC instead of via the exchange RFQ platform; no investor loss established. |
| Skin in the game | None stated — GoldenPi is a distributor/marketplace, not a co-investor. | States a ~2% co-investment in each listed bond. |
Which should you pick?
Pick GoldenPi if you want the widest possible bond menu — G-secs through high-yield NCDs — and the tools to comparison-shop yields across many issuers, but go in knowing its shelf reaches speculative-grade credit, that a bond it distributed (TruCap) did default in 2025, and that it carries the larger SEBI penalty plus an unsettled ownership change. Pick Wint Wealth if you would rather a narrower, curated NBFC-bond shelf where the platform co-invests ~2% alongside you and the regulatory record is lighter — accepting fewer options in exchange for a lower ₹1,000 minimum. Neither guarantees the bonds: on both, 'zero brokerage' hides a price spread, returns depend on the issuer paying, and exits before maturity are hard. Whichever you choose, check the specific bond's credit rating and maturity before investing.
Read the full reviews: GoldenPi · Wint Wealth
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