Sharekhan is one of the top retail brokerage houses in India with a strong online trading platform. The company provides equity based products (research, equities, derivatives, depository, margin funding, etc.) through its pan India presence of 100 branches and 310 franchises across 150 cities. Sharekhan was established by Morakhia family -in 1999-2000 and Morakhia family, continues to remain the largest shareholder.
Mr. Shripal Morakhia, Chairman, Sharekhan, commented, âGeneral Atlantic has been very active in this field globally and the firm brings a wealth of knowledge through its investments in E*Trade, NYSE and NYMEX to name a few. Their global network and extensive contacts will help Sharekhan to continue its growth in a very robust market.â
Mr. Shripal Morakhia further added that he was appreciative of the contribution of The Carlyle Group and commented, âThe Carlyle Group and its team have been extremely co-operative and supportive of the various strategic initiatives at Sharekhan. We appreciate the significant positive contribution and commitment of The Carlyle Group, and Mr. Shankar Narayanan (managing director with the Carlyle Group) for his value added inputs, support to the management team, and the various services rendered during his tenure as a Board member of Sharekhan.
Mr. Tarun Shah, CEO of Sharekhan, commented, âWe are very excited to have General Atlantic as a partner. GA brings a wealth of experience including a deep understanding of the financial services and consumer sectors. They also have a unique capability to help companies leverage technology as a source of competitive advantage.â
Mr. Abhay Havaldar, Managing Director with General Atlantic and head of its Mumbai office said, âWe firmly believe in the growth of the financial services sector in India and are eager to invest behind strong management teams and retail financial services brands. Sharekhanâs management team is one of the strongest in the sector and has positioned Sharekhan to take advantage of the growing consumer demand for financial services products in India through investments in research, pan-Indian branch network and an outstanding technology platform. Further, Sharekhanâs lineage and relationship with SSKI Group provide it a unique position to understand and leverage the growth of the financial services sector. We look forward to providing strategic counsel to Sharekhanâs management as they continue their expansion for the benefit of all shareholders.â
GA invests in both public and private companies with a long-term investment horizon and a value added approach. GA has been active in India since 2002 when it established its office in Mumbai and made its first investment in Patni, a global IT services company. Since then, GA has made several additional investments, including Genpact, a leading global provider of outsourced services which was spun off from GE in December 2004; Jubilant; and NDTV. GA is active in the global financial services sector with U.S. investments including the NYSE Group, NYMEX, Riskmetrics and formerly E*Trade; and European investments including Saxo Bank.