Sharekhan
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Type of site | Private company |
|---|---|
| Founded | February 2000 |
| Headquarters | Mumbai, India |
| Country of origin | India |
| Founder(s) | Shripal Morakhia |
| CEO | Jaideep Arora |
| Industry | Financial services |
| Employees | 4,800+ (2018) |
| Parent | Mirae Asset Financial Group |
| URL | www |
Sharekhan is an Indian retail brokerage full-service brokerage firm, that as of 2020[update], was the fifth largest full-service firm and the 8th largest stock broker in India with 16 lakh customers.[1][2] Sharekhan was one of the pioneers of online trading in India. It offers a broad range of financial products and services including securities brokerage, mutual fund distribution, loan against shares, Employee Stock Ownership Plan financing, IPO financing and wealth management.
History
[edit]Sharekhan was founded by Mumbai-based entrepreneur Shripal Morakhia in 2000. Sharekhan pioneered the Indian online retail brokerage industry and leveraged on the first wave of digitization, when dematerialization (demat) of securities came into effect and electronic trading was introduced in the stock exchanges.[3]
As of 2018[update], Sharekhan has 4800+ employees, and was present in over 575 cities through 153 branches, and more than 2,500 business partners.[4] The company had 1.4 million customer base[5] and on an average, executes more than 4 lakh trades per day.
2017 - Acquisition by BNP Paribas
[edit]Sharekhan was acquired by BNP Paribas in 2017, it was rebranded as Sharekhan by BNP Paribas.[6]
2024 - Acquisition by Mirae Asset Financial Group
[edit]On November 28, 2024, Mirae Asset Financial Group announced the completion of its acquisition of Sharekhan, following the receipt of all required regulatory approvals. This marks a new chapter in both companies' journeys as Mirae Asset Sharekhan becomes part of the Mirae Asset family.
With this acquisition, Sharekhan will continue to develop its business and activities, leveraging Mirae Asset's global expertise to enhance offerings and extend financial services to clients across India. The integration of Mirae Asset’s international resources with Sharekhan’s established market position aims to create a comprehensive financial services platform catering to a diverse clientele.
This combination of integration and aspiration comes through in the new logo, which reflects the smooth amalgamation of the 2 entities coming together to cater to the flourishing aspirations—much like the skyward swoosh—of the Indian share market participant.
References
[edit]- ^ "Top 20 Share Brokers in India 2020". Chittorgarh.
- ^ "BNP To Invest Euro 70 Million In Sharekhan, Not To Exit Geojit". NDTV Profit.
- ^ "Sharekhan hopes to double customer base in next five years". The Hindu Business Line.
- ^ "Online broking firm Sharekhan faces hacking attempt at its IT systems". Daily News and Analysis. 5 April 2018. Retrieved 20 July 2018.
- ^ "Sharekhan hopes to double customer base in next five years". The Hindu Business Line. Retrieved 20 July 2018.
- ^ "BNP Paribas To Invest €70 Million In Sharekhan Over The Next 3 Years". Bloomberg Quint.
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