Headlines Now

Bengaluru : PhonePe has made a significant leap into the stock broking realm with the unveiling of Share(dot)Market, a venture under its subsidiary PhonePe Wealth Broking Pvt. Ltd. This initiative aims to redefine discount broking by merging market intelligence, quantitative research-based WealthBaskets, cutting-edge technology, and a seamless customer experience for both investors and traders.

Share(dot)Market debuts with a compelling array of investment options, including stocks and ETFs, with plans to introduce Futures & Options and more segments in the near future. Thanks to SEBI’s progressive initiatives like Aadhaar/Video KYC and faster settlement times, the Indian retail investor base is expanding rapidly, evident in the rise of Demat accounts and Mutual Fund SIPs.

Share(dot)Market intends to augment this growth by offering quantitative research alongside execution capabilities, all at competitive discount broking rates. The platform’s customer-centric approach, coupled with PhonePe’s extensive reach and secure transaction system, is poised to empower numerous Indians in their wealth-building journey.

Investors will access a wide spectrum of investment products, from stocks to Mutual Funds, Exchange-Traded Funds (ETFs), and innovative WealthBaskets. These curated collections of stocks align with specific themes, sectors, or market trends, offering cost-effective and convenient equity portfolio building.

Share(dot)Market empowers investors and traders with real-time insights and intelligence, integrated into DIY tools, facilitating informed decision-making. The platform also features a dedicated Markets section for tracking stock market data.

To access Share(dot)Market, PhonePe users can install the app or utilize the web platform with their PhonePe-linked mobile numbers. Completing the KYC process activates their Broking and Demat accounts.

CEO Ujjwal Jain’s Vision

Ujjwal Jain, CEO of Share(dot)Market, expressed enthusiasm, stating, “We are delighted to launch Share(dot)Market, furthering our vision of financial inclusion at scale. In recent years, there has been a surge in savings channeling into Equities. We believe Share(dot)Market, with its technological prowess and superior product experience, will propel this growth by offering Discount Broking benefits and lasting value for our customers.”

CIO Sujit Modi’s Insight

Sujit Modi, CIO of Share(dot)Market, emphasized, “Share(dot)Market will attract new demographics into Broking, providing them with off-the-shelf Quant research-led offerings, including WealthBaskets. Our user-friendly interface integrates global standard quant research with Broking, reshaping how investors and traders engage with the stock market.”

Pricing Details

Brokerage Charges:

• Equity Delivery: Lower of 0.05% or Rs. 20/executed order
• Equity Intraday: Lower of 0.05% or Rs. 20/executed order

Share(dot)Market Platform Charges:

• One-time onboarding fee of INR 199 (applicable benefits until 31st March 2024):
  • Zero brokerage on trades up to INR 400
  • Zero Platform fee for in-house and Third Party WealthBaskets
  • Zero Brokerage on Wealth Basket transactions for both in-house and Third Party Wealth Baskets.