Published on Thursday, July 30, 2015 by Mukesh Kothari | Modified on Wednesday, April 19, 2017
Sharekhan, the most popular broker in India is acquired by BNP Paribas, France's largest bank. The amount paid by BNP Paribas for Sharekhan is not disclosed.
Incorporated in 2000, Sharekhan is among the largest share broker in India with over 13 lakhs customers, 1800 branches across 550 cities.
This is the 2nd major acquisition by BNP Paribas in India Breakage Industry. In year 2007, they acquired 34% shares of Geojit, a Kochi Kerala based broker which now has over 7.5 lakhs customer accounts.
With Sharekhan acquisition, BNP Paribas is become the 2nd largest stock broker in India. ICICI Bank is the No. 1 broker in India with over 30 lakh customers.
This consolidation in brokerage industry is long overdue. Despite the surge in major indexes in recent months, most traditions brokers in India are still struggling to keep the customers continue trading. The Discount Brokers like Zerodha and RKSV are also taking away the committed traders who are the major revenue contributors to the traditional brokers.
Few more mergers and acquisition are expected in coming months. India has over 50 brokers with more than 1 lakh customers. Low retail participation and challenges from handful of discount brokers offering world class trading experience for 60% cheaper brokerage, traditional brokers are now face real heat.
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