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.
| 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). |
| Scale (bond sales per month) | Over ₹200 crore a month (NSE data via Moneycontrol, 2 Sep 2026). | ~₹900 crore a month — about half of all online-bond-platform transactions (NSE data via Moneycontrol, 2 Sep 2026). |
| 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; holders were repaid in full with penal interest about ten weeks late. | 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. |
GoldenPi or Wint Wealth: who each one suits
- You want the widest menu — G-secs and SGBs through to high-yield NCDs — to comparison-shop yields
- You are an informed investor who reads each issue's rating and accepts that the shelf reaches speculative grade
- You are comfortable with an ownership change in progress (Oxyzo acquisition announced May 2026)
- You prefer a narrower, curated shelf of secured NBFC and securitised bonds
- You want a lower entry point (from ₹1,000 as marketed, vs ~₹10,000 on most GoldenPi bonds)
- You value the platform stating a ~2% co-investment in each bond
Which should you pick?
Read the full reviews: GoldenPi review · Wint Wealth review
Compare next
Sources
- https://www.sebi.gov.in/online-bond-platform-providers.html
- https://www.moneycontrol.com/technology/online-bond-platforms-see-sharp-growth-as-retail-investors-warm-up-to-corporate-debt-amid-muted-equity-returns-article-14020572.html
- https://www.sebi.gov.in/enforcement/orders/jul-2025/adjudication-order-in-the-matter-of-goldenpi-securities-private-limited_95736.html
- https://www.sebi.gov.in/enforcement/orders/nov-2025/adjudication-order-in-the-matter-of-inspection-of-fourdegreewater-services-private-limited-as-stock-broker-acting-as-an-online-bond-platform-provider_97884.html
- https://goldenpi.com/
- https://www.wintwealth.com/
- https://inc42.com/buzz/oxyzo-to-buy-debt-investment-platform-goldenpi-for-%E2%82%B942-cr/
This comparison is for information only and is not investment advice. Bond investments carry credit and liquidity risk, and fixed returns are not guaranteed returns; verify current details on each platform and check the issuer’s credit rating before investing. Facts last verified July 2026.
← Back to the bonds hubFrequently asked
What people ask when choosing between GoldenPi and Wint Wealth.
GoldenPi suits investors who want breadth: one of the widest bond shelves, from G-secs to high-yield NCDs, built for comparison-shopping yields. Wint Wealth suits investors who want a curated, bonds-first shelf with lower minimums and a stated ~2% co-investment. GoldenPi carries the larger regulatory record (a ₹4.5 lakh SEBI penalty in Jul 2025 and the TruCap NCD it distributed defaulting in Jul 2025); Wint's is a ₹1 lakh statutory-minimum penalty (Nov 2025).
GoldenPi Securities Pvt Ltd is SEBI-registered (INZ000310732) and an online bond platform on both NSE (90331) and BSE (6809); bonds settle into your own demat account. But it is a distributor, not a guarantor: its shelf reaches speculative-grade paper, TruCap Finance NCDs distributed through it (and other platforms) defaulted on 16 Jul 2025, and SEBI fined the company and its directors ₹4.5 lakh (order dated 31 Jul 2025) for routing trades outside the RFQ mechanism and advertising without exchange approval. Oxyzo (OfBusiness) announced in May 2026 that it would acquire GoldenPi; completion has not been publicly confirmed.
Wint Wealth markets bonds from ₹1,000. GoldenPi's minimum is around ₹10,000 for most listed bonds, and some wholesale-style NCDs need tickets of about ₹1 lakh. Check the specific bond's lot size on either platform.
Both are 'zero brokerage' to you and earn through a spread built into the bond price, plus fees from the issuers whose bonds they list. Neither discloses the spread per bond. Wint additionally states it co-invests about 2% in each bond it lists; GoldenPi positions itself as a marketplace and does not co-invest.
IndiaBonds (India Bond Pvt Ltd, INZ000311637, NSE 90316 · BSE 6811) is the third large broad-shelf platform and competes most directly with GoldenPi on breadth. Read our IndiaBonds review, and see the best bond platforms page for all three side by side.
You can request a sale, but retail-sized corporate-bond lots trade thinly on both, so there is no guaranteed buyer at a fair price. Plan to hold to maturity.