M&A
Wealth-tech platform InCred Money to acquire discount broker Stocko for Rs.300-Cr: report
InCred Money, the wealthtech platform of financial services firm InCred Group, is to acquire New Delhi-based discount broking platform Stocko in an all-cash deal for about INR 300 crore.Stocko, founded in 2013 as SAS Online, offers trading across equities, derivatives, commodities and currencies. The platform claims to clock a daily notional turnover of around INR 1 lakh crore. The Stocko team, led by CEO Shrey Jain, will continue to operate the platform post-acquisition.Post-acquisition, Stocko - currently operated by South Asian Stocks Ltd - will be rebranded as InCred Stocko and integrated into InCred Money.
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