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Sharekhan to foray into discount broking business

Our Bureau New Delhi | Updated on June 02, 2020 Published on June 02, 2020

To set up a new subsidiary company; also to remain committed to full services model

Sharekhan, a BNP Paribas-owned full services brokerage house, has announced its plan to enter into the discount broking business through a new subsidiary.

This new business initiative is being launched under ‘Project Leapp’. For the first time in India, a discount broking platform will be launched with Beta-testing by inviting alpha traders and investors to participate it and register via www.projectleapp.com, said the top brass of Sharekhan. The name of the company that would offer the discount broking services and brand name are expected to be announced in the coming days.

“Our ambition is to be amongst the top three discount brokers in the country in the next five years,” said R Kalyanaraman, Chief Customer Officer, Project Leapp, in a virtual press conference.

Jaideep Arora, CEO, Sharekhan, said that Sharekhan would continue to be committed to its full services broking model even as it was venturing into discount broking business. In the year 2020, Sharekhan crossed two important milestones: 20 years of existence and 20 lakh clients. More than ever, Sharekhan strongly believes that its full services model is essential to solve customers’ pain points about getting help to better reach their financial goals, according to Arora.

Published on June 02, 2020
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