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Type of site | Private company |
|---|---|
| Founded | 1995; 30 years ago (1995)[1] |
| Headquarters | Mumbai, India |
| Country of origin | India |
| Founder(s) | Shripal Morakhia |
| CEO | Jisang Yoo[2] |
| Industry | Financial services |
| Employees | 3500+ (2024)[3] |
| Parent | Mirae Asset Financial Group |
| URL | www |
Mirae Asset Sharekhan is an Indianretail brokerage and full-service brokerage firm. As of 2024, it was the twelfth-largest full-service brokerage and the eighth-largest stock broker in India.[4][5] The company introduced online trading in India in its early years.[6] It provides financial services such as securities brokerage, mutual fund distribution, Equity/ Derivatives (F&O), Commodity, Currency trading, IPO, Portfolio Management Services (PMS), Fixed Deposits & Bonds, NRI Services, mutual fund distribution,IPO financing, wealth management, and insurance.[7] The company operates over 120 branches in India, serving 3.1 million clients.[8]
In November 2024, Sharekhan was acquired byMirae Asset Financial Group, a global multinational financial services company for ₹3,000 crore (487 billion won),[9] making it part of Mirae Asset Financial Group with the brand name Mirae Asset Sharekhan.[10][11]
Sharekhan was founded in 1995 by Mumbai-based entrepreneurShripal 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 firmsWarburg Pincus andGeneral Atlantic.[12] Sharekhan pioneered the Indian online retail brokerage industry and leveraged on the first wave of digitization, whendematerialization (demat) of securities came into effect and electronic trading was introduced in the stock exchanges.[13]
As of March 2024, Sharekhan was ranked eighth among retail brokerages, with over 700,000 active clients.[14] The company had approximately 3,500 employees[3] and operated more than 120 branches, along with a network of over 4,400 business partners. Its total customer base was reported to be 1.4 million.[8]
Sharekhan was acquired byBNP Paribas in 2017, it was rebranded asSharekhan by BNP Paribas.[15]
On November 28, 2024,Mirae Asset Financial Group announced the completion of its acquisition of Sharekhan after receiving all necessary regulatory approvals,[16] integrating it into the group under the name Mirae Asset Sharekhan.[10] Mirae Asset Sharekhan is the second brokerage platform under Mirae Asset, which previously launched its discount brokerage firm, m.Stock, in 2022.[14]
Mirae Asset acquired a 100% stake in Sharekhan from European financial services firmBNP Paribas for ₹3,000 crore (487 billion won).[14] In April 2024, the company received approval from theCompetition Commission of India (CCI).[17]
The acquisition is part ofMirae Asset Financial Group's expansion in India, following the establishment ofMirae Asset Securities (MAS) in 2018.[18] Mirae Asset Securities is a publicly traded company, while Mirae Asset Capital Markets (India) operates as its wholly-owned subsidiary.[19]
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