PhonePe forays into stock broking business, launches Share(dot)Market

PhonePe, which raised $850 million in the last quarters, recently launched e-commerce app called Pincode.

Share(dot)Market is available as a mobile app and a web platform. Image: Freepik

Bengaluru-headquartered payments company PhonePe has forayed into the stock broking business with the launch of Share(dot)Market under its subsidiary PhonePe Wealth Broking Pvt Ltd, the company announced on Wednesday, August 30. Share(dot)Market is available as a mobile app and a web platform. The platform will help retail investors do intra-day trades and buy stocks, curated wealth-baskets, and mutual funds.

"There is a vibrant growth in the active trading community which trades with different objectives. We believe the Share(dot)Market will propel this growth with the backing of our technological prowess, reach, seamless onboarding, and superior product experience. Our goal is to offer the benefits of Discount Broking while creating lasting value for our customers as they invest and trade. We will continue to invest in advanced technology, data, research, and immersive experiences to offer these benefits at scale and drive this new era of Value-led Discount Broking coupling intelligence with Broking," said Ujjwal Jain, CEO of Share(dot)Market.

PhonePe, which raised $850 million in the last quarters, recently launched e-commerce app called Pincode. The firm is aiming to differentiate itself in the new market with Share(dot)Market by dramatically lowering the broking fee — Rs 20 or 0.05%, whichever is lower — and delivering deeper quantitative research and trading tactics, according to the company.

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Here are the 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 price of Rs 199 that will include various benefits applicable till March 31, 2024:
Zero brokerage up to Rs 400 on trades
Zero platform fee for in-house and third-party WealthBaskets
Zero brokerage on wealthbasket transactions across both in-house and third-party wealthbaskets

PhonePe Wealth Broking

PhonePe Wealth Broking Private Limited was started in April 2021 as a subsidiary of PhonePe Private Limited. The company is registered with NSE and BSE as a stockbroker, with CDSL as a depository participant, and with AMFI as a mutual fund distributor.

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