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Mirae Asset Sharekhan
Indian brokerage firm From Wikipedia, the free encyclopedia
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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]
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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]
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History
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]
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References
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