Mirae Asset Sharekhan
 | |
| Company type | Private |
|---|---|
| Industry | Financial services |
| Founded | 1995[1] |
| Founder | Shripal Morakhia |
| Headquarters | Mumbai, India |
Key people | Jisang Yoo (CEO)[2] |
Number of employees | 3,500 (2024)[3] |
| Parent | Mirae Asset Financial Group |
| Website | www |
Mirae Asset Sharekhan (formerly Sharekhan) is an Indian retail stock brokerage firm headquartered in Mumbai.[4] It was founded in 1995 and was among the early firms in India to adopt online trading.[5] In 2024, Sharekhan was acquired by the Mirae Asset Financial Group for ₹3,000 crore (487 billion won),[6] and was rebranded as Mirae Asset Sharekhan.[7][8] Its operations include securities brokerage, equity and derivatives trading, commodity and currency trading, and portfolio management.[9]
As of March 2024, the firm accounted for approximately 1.6% of active client accounts on the National Stock Exchange (NSE) and was ranked among the largest brokerage firms in India by client base.[10] It operates over 120 branches in India, serving 3.1 million clients.[11]
History
[edit]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.[12][13]
Sharekhan was acquired by BNP Paribas in 2017, it was rebranded as Sharekhan by BNP Paribas.[14]
As of March 2024, Sharekhan was ranked eighth among retail brokerages, with over 700,000 active clients.[15]
On 28 November 2024, Mirae Asset Financial Group announced the completion of its acquisition of Sharekhan for ₹3,000 crore (487 billion won).[15][16][17] The entity was renamed Mirae Asset Sharekhan.[7] It became the group's second brokerage platform, following the launch of m.Stock in 2022.[15]
References
[edit]- ^ Balakrishnan, Reghu (4 March 2015). "Actis, Warburg, Indian banks in race to acquire Sharekhan". Business Standard.
- ^ "Mirae Asset Financial Group completes acquisition of Sharekhan". No. Business Standard. 28 November 2024.
- ^ a b Choe, Man-Su (27 November 2024). "Mirae Asset aspires to No. 5 in Indian securities market with Sharekhan". KED Global.
- ^ "BNP To Invest Euro 70 Million In Sharekhan, Not To Exit Geojit". NDTV Profit. 5 January 2017.
- ^ "Mirae Asset Acquires Sharekhan". India Infoline. 28 November 2024.
- ^ Young-sil, Yoon (27 November 2024). "Mirae Asset Securities Completes Acquisition of Indian Brokerage Firm Sharekhan". Businesskorea (in Korean).
- ^ a b Awasthi, Nishtha (28 November 2024). "Mirae Asset Financial Group completes acquisition of Sharekhan". The Economic Times. ISSN 0013-0389.
- ^ Narayanan, KS Badri (28 November 2024). "Mirae Asset completes ₹3,000 cr acquisition of Sharekhan, expanding financial footprint in India". BusinessLine.
- ^ Yadav, Pihu (2 April 2024). "CCI approves acquisition of Sharekhan and Human Value Developers - CNBC TV18". CNBCTV18.
- ^ "Sharekhan Limited: Rating reaffirmed - ICRA". ICRA Limited.
- ^ Young-sil, Yoon (24 January 2025). "Mirae Asset Securities Fully Owns Indian Subsidiary with Major Share Acquisition". Businesskorea (in Korean).
- ^ "Sharekhan to enter discount broking busines - CNBC TV18". CNBCTV18. 2 June 2020.
- ^ "Sharekhan hopes to double customer base in next five years". The Hindu Business Line. 5 January 2017.
- ^ "BNP Paribas To Invest €70 Million In Sharekhan Over The Next 3 Years". Bloomberg Quint. 5 January 2017.
- ^ 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.
- ^ "Mirae Asset Financial Group completes acquisition of Sharekhan". Moneycontrol. 28 November 2024.
- ^ Staff, Entrepreneur (29 November 2024). "Mirae Asset Financial Group Completes Acquisition of Sharekhan". Entrepreneur.
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