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Mirae Asset Sharekhan

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For the character of Jungle Book, see Shere Khan.

Mirae Asset Sharekhan
Company typePrivate
IndustryFinancial services
Founded1995; 30 years ago (1995)[1]
FounderShripal Morakhia
HeadquartersMumbai,
India
Key people
Jisang Yoo (CEO)[2]
Number of employees
3,500 (2024)[3]
ParentMirae Asset Financial Group
Websitewww.sharekhan.com

Mirae Asset Sharekhan is an Indian brokerage firm.[4][5][6] The company operates over 120 branches in India, serving 3.1 million clients.[7]

In November 2024, Sharekhan was acquired by the Mirae Asset Financial Group for ₹3,000 crore (487 billion won),[8] and was rebranded as Mirae Asset Sharekhan.[9][10]

History

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Sharekhan was founded in 1995 by Mumbai-based entrepreneur Shripal Morakhia,[3] whose family had a background in equity broking. It was among the early standalone brokerages in India and was backed by private equity firms Warburg Pincus and General Atlantic.[11][12]

Sharekhan was acquired by BNP Paribas in 2017, it was rebranded as Sharekhan by BNP Paribas.[13]

As of March 2024, Sharekhan was ranked eighth among retail brokerages, with over 700,000 active clients.[14]

On 28 November 2024, Mirae Asset Financial Group announced the completion of its acquisition of Sharekhan for ₹3,000 crore (487 billion won).[14][15][16] The entity was renamed Mirae Asset Sharekhan.[9] It became the group's second brokerage platform, following the launch of m.Stock in 2022.[14]

References

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  1. ^ Balakrishnan, Reghu (4 March 2015). "Actis, Warburg, Indian banks in race to acquire Sharekhan". Business Standard.
  2. ^ "Mirae Asset Financial Group completes acquisition of Sharekhan". No. Business Standard. 28 November 2024.
  3. ^ a b Choe, Man-Su (27 November 2024). "Mirae Asset aspires to No. 5 in Indian securities market with Sharekhan". KED Global.
  4. ^ "BNP To Invest Euro 70 Million In Sharekhan, Not To Exit Geojit". NDTV Profit. 5 January 2017.
  5. ^ "Mirae Asset Acquires Sharekhan". India Infoline. 28 November 2024.
  6. ^ Yadav, Pihu (2 April 2024). "CCI approves acquisition of Sharekhan and Human Value Developers - CNBC TV18". CNBCTV18.
  7. ^ Young-sil, Yoon (24 January 2025). "Mirae Asset Securities Fully Owns Indian Subsidiary with Major Share Acquisition". Businesskorea (in Korean).
  8. ^ Young-sil, Yoon (27 November 2024). "Mirae Asset Securities Completes Acquisition of Indian Brokerage Firm Sharekhan". Businesskorea (in Korean).
  9. ^ a b Awasthi, Nishtha (28 November 2024). "Mirae Asset Financial Group completes acquisition of Sharekhan". The Economic Times. ISSN 0013-0389.
  10. ^ Narayanan, KS Badri (28 November 2024). "Mirae Asset completes ₹3,000 cr acquisition of Sharekhan, expanding financial footprint in India". BusinessLine.
  11. ^ "Sharekhan to enter discount broking busines - CNBC TV18". CNBCTV18. 2 June 2020.
  12. ^ "Sharekhan hopes to double customer base in next five years". The Hindu Business Line. 5 January 2017.
  13. ^ "BNP Paribas To Invest €70 Million In Sharekhan Over The Next 3 Years". Bloomberg Quint. 5 January 2017.
  14. ^ a b c Tiwari, Khushboo. "South Korea's Mirae Asset mulls $150 mn capital infusion in Sharekhan". www.business-standard.com. Archived from the original on 9 October 2024.
  15. ^ "Mirae Asset Financial Group completes acquisition of Sharekhan". Moneycontrol. 28 November 2024.
  16. ^ Staff, Entrepreneur (29 November 2024). "Mirae Asset Financial Group Completes Acquisition of Sharekhan". Entrepreneur.
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