Sharekhan: the online stock brokerage giant
- Sharekhan, which is India's 2nd largest online portal for "online trading, investments and stock marketing", was founded on 8 February 2000.
- Services like portfolio management, futures & options, trade execution in equities, insurance, commodities, distribution of mutual funds, and structured products are provided by Sharekhan.
- It is a member of the Bombay Stock Exchange, the National Stock Exchange and commodity exchanges NCDEX and MCX.
Sharekhan's founder-jack of all trades!
Banking outfit SSKI and Sharekhan's founder Shripal Morakhia is a man of diverse interests. He produced Bend it like Beckham and Monsoon Wedding; bought, facelifted and sold Amar Chitra Katha; and was in a joint sports venture with Sachin Tendulkar.
Investment in the Sharekhan household
- In 2000, Sharekhan managed to raise funding from private investors like HSBC Private Equity, Intel Capital and Carlyle.
- In April 2006, an investment was made by General Atlantic in the company by subscribing to equity, and also buying the equity holding of Carlyle.
- In 2007, the Morakhias ceased to be promoters of the company by selling their stake to Human Value Developers.
Citi private equity arm buys Sharekhan
- 85% stake in Sharekhan was acquired for about ₹470-480 crore by Citigroup's private equity arm Citigroup Venture Capital International (CVCI).
- CVCI was most likely to invest another ₹200 crore into the company by getting a 'fresh issue of shares', which would constitute 15% of the equity capital.
- This deal made Sharkhan valuation reach a staggering ₹650 crores.
Valued at ₹3000 crore, Sharekhan up for sale!
- Sharekhan has caught the eye of top private equity houses like Actis and Warburg Pincus, and Indus Bank who are in the race to acquire the company.
- Currently, Sharekhan is valued at ₹3,000 crore which could make a deal with it, one of the largest in the stock broking industry.
- Sharekhan's majority owner Citi Venture Capital International, had hired Citi to find a buyer.
Sharekhan's paws reach international territory too
Sharekhan has not only covered the pan-India territory with over 1,529 outlets serving 950,000 customers across 450 cities but has created a global footprint through its UAE and Oman branches.
French bank BNP Paribas buys Sharekhan
- French banking major BNP Paribas made its newest acquisition in the name of Sharekhan, the Indian broking firm for close to ₹2240 crore.
- Sharekhan will join BNP Paribas' personal investors division that deals with retail brokerage and digital banking service having as many as 1.2 million clients over Europe.
- The bank said that only regulatory approvals were left for the completion of the transaction.
CCI clears Sharekhan-BNP Paribas deal
- The Competition Commission of India (CCI) has approved the acquisition of retail brokerage firm Sharekhan by French global financial services group BNP Paribas.
- Sharekhan will join BNP Paribas' Personal Investors division, which is a key player in retail brokerage, with over 1.7 million clients across Europe.
- The deal was announced by BNP Paribas in July 2015, and was pending approval by the CCI.