Mirae Asset Sharekhan is an Indian

brokerage A broker is a person or entity that arranges transactions between a buyer and a seller. This may be done for a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Neith ...

firm. The company operates over 120 branches in India, serving 3.1 million clients. In November 2024, Sharekhan was acquired by the

Mirae Asset Financial Group Mirae Asset Financial Group () is a South Korean multinational financial services company headquartered in Seoul, South Korea. Mirae Asset provides comprehensive financial services including asset management, wealth management, investment bankin ...

for ₹3,000 crore (487 billion won), and was rebranded as Mirae Asset Sharekhan.

History

Sharekhan was founded in 1995 by Mumbai-based entrepreneur

Shripal Morakhia Shripal Morakhia (Marathi language, Marathi: श्रीपाल मोराखिया) is an Indian businessman, film director and film producer. Morakhia is best known for his 2005 directorial debut ''Naina (2005 film), Naina''. Presentl ...

, 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 Warburg Pincus LLC is a global private equity firm, headquartered in New York City, with offices in the United States, Europe, Brazil, China, Southeast Asia and India. Warburg has been a private equity investor since 1966. As of April 2024 the f ...

and

General Atlantic General Atlantic, legal main entity General Atlantic Service Company, L.P., (also known as "GA") is an American growth equity firm providing capital and strategic support for global growth companies, headquartered in New York, United States. T ...

. Sharekhan was acquired by

BNP Paribas BNP Paribas (; sometimes referred to as BNPP or BNP) is a French multinational universal bank and financial services holding company headquartered in Paris. It was founded in 2000 from the merger of two of France's foremost financial instituti ...

in 2017. It was rebranded as "Sharekhan" by BNP Paribas. As of March 2024, Sharekhan was ranked eighth among retail brokerages, with over 700,000 active clients. On 28 November 2024,

announced the completion of its acquisition of Sharekhan for ₹3,000 crore (487 billion won). The entity was renamed Mirae Asset Sharekhan. It became the group's second brokerage platform, following the launch of m.Stock in 2022.

References

{{Online brokerages Financial services companies established in 2000 Companies based in Mumbai Brokerage firms 2000 establishments in Maharashtra Indian companies established in 2000 2024 mergers and acquisitions