The group of companies which now comprise Pico Capital, were earlier known as Western India Garments (WIGS) Pvt. Ltd., Pinkhem Investments Pvt. Ltd., Mode Export Pvt. Ltd., and Veer Mercantile Pvt. Ltd.

The group promoter, Mr. Ajay Bhartiya, began his career in the textile industry. The parent company, WIGS, was established as early as 1977. The main operating business then was manufacturing and exporting of textiles to large European retail chains.

Over time, as the return on invested capital deteriorated in the textile business, the group began investing accumulated profits into financial securities. This proportion kept growing until finally in 2012 we closed the textile business and concentrated on financial activities.



The group has a successful track record of capital allocation and the combined net worth of the group has grown at a CAGR of ~18% over the last 28 years.


We are a family-owned company. Our values define how we do business and interact with our stakeholders. We maintain a high level of ethical conduct and integrity in our day to day activities through greater transparency and accountability in our work. Our four core values are:






As a responsible corporate citizen operating within the society, we need to contribute towards economic, social and environmental development that creates positive impact on society at large.
Our focus is on promoting education for under privilege students, employment enhancing vocation skills of our vulnerable youth from slums, night schools and children’s home, promoting preventive health care and sanitation, women empowerment, setting up old age homes and many more.
If you are associated with any of the above social causes, we would be happy to hear from you. Kindly do mail us at

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