InCred Money set to acquire discount broker Stocko, marking entry into retail broking
InCred Money
, the digital-first wealthtech platform of financial services firm
InCred Group
, said it is set to acquire discount broking platform Stocko, marking its entry into the
retail broking
space. It did not disclose the size of the transaction, but people aware of the development said it would be an all-cash deal for about Rs 300 crore.
The acquisition is subject to regulatory approvals. If cleared, it will see Stocko—currently operated by South Asian Stocks Limited—rebranded as InCred Stocko and integrated into InCred Money, the Mumbai-based company said.
'India's investing ecosystem is evolving rapidly,' said Bhupinder Singh, founder and CEO of InCred. 'Stocko gives us a proven platform with serious volume, and we'll bring our tech, capital, and customer-first mindset to unlock its full potential.'
New Delhi-based Stocko, founded in 2013 as SAS Online, offers trading across equities, derivatives, commodities and currencies. It charges a flat fee of Rs 12.99 per order and offers a subscription-based model for active traders where the per-order cost can drop to Rs 2.99. The platform claims to clock a daily notional turnover of around Rs 1 lakh crore.
The acquisition will help InCred Money extend its suite to include equities and derivatives trading for retail users.
Live Events
Founded in 2016, InCred Group operates three verticals—InCred Finance (NBFC lending), InCred Capital (institutional and HNI wealth services), and InCred Money, which offers products like fixed deposits and alternative investments to retail investors.
Discover the stories of your interest
Blockchain
5 Stories
Cyber-safety
7 Stories
Fintech
9 Stories
E-comm
9 Stories
ML
8 Stories
Edtech
6 Stories
The Stocko team, led by CEO Shrey Jain, will continue to operate the platform post-acquisition.
'With InCred's backing, we'll scale faster, innovate harder, and roll out smarter products—from enhanced margin funding to sharper tech,' said Jain.
InCred Money's entry into retail broking also adds to the list of traditional financial institutions and fintechs looking to build full-stack platforms, blurring the lines between lending, wealth management and investing.
Platforms such as Groww, which started with mutual fund investments and expanded into equities, derivatives and asset management, and Paytm Money, which evolved from payments into broking and investment advisory, exemplify this shift.
In December 2023, InCred Finance closed its Series D funding round, raising $60 million from a group of high-net-worth individuals. The round propelled the company into the unicorn club with a valuation of around $1.04 billion
In April, Bloomberg reported that InCred Financial Services is in talks with potential advisers for an initial public offering (IPO) to raise about $470 million as the Mumbai-based company, a partner of KKR & Co., is in discussions with some firms, including
IIFL Securities
,
Kotak Mahindra Bank Ltd.
and Nomura Holdings Inc. about working on an IPO.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
33 minutes ago
- Time of India
Opium farmers demand policy overhaul, fair pricing
Jaipur: The opium farmers' association of Rajasthan and Madhya Pradesh has strongly urged the Centre to rethink its opium cultivation policy for 2025-26. They have demanded fair treatment of farmers, higher prices, and an end to what they call 'exploitative practices'. In a statement released Friday, the association clarified that "opium is a medicinal crop, not a drug" and blamed corrupt officials rather than the crop itself for mismanagement. "Opium is not inferior — it is the system and some officials that failed the farmers," the association asserted. Key demands include issuing traditional cultivation licences to all farmers and families who grew opium since Independence and revising the price of raw opium to at least Rs 50,000 per kg to align with global standards. "Farmers have faced years of exploitation under the guise of regulation while their production costs skyrocketed," the association said. The group also criticised the govt-imposed Concentrated Poppy Straw (CPS) system, describing it as an attempt to "enslave farmers to private companies." They called for its discontinuation, arguing that if CPS was genuinely effective, parallel traditional farming wouldn't still exist. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo "If CPS is truly superior, make its performance data public. Stop forcing it on traditional farmers," the association has demanded. The association suggests that the govt should directly buy and fairly compensate for all by-products like doda chura, comparing it to how no one expects farmers to manage cow dung after consuming the milk. The Central Bureau of Narcotics issues licences to farmers for opium cultivation and is the sole authority responsible for its procurement. They have also urged the govt to prevent opium cultivation from falling into the hands of private companies and called for a CBI probe into the operations of the narcotics department between 2015 and 2025. The farmers stressed that adopting their suggestions would "ensure economic freedom for the country, prosperity for farmers, and affordable medicines for patients, in line with the PM's 'Make in India, Made by Farmers' vision."
Time of India
33 minutes ago
- Time of India
After Noida, Greater Noida is set to get its own waste-to-wonder park
Noida: GNIDA will soon set up a waste to wonder park to boost public recreational spaces in the city. Officials said a tender for design and development of the Rs 19.3 crore project will be floated shortly, with the park to be built on a revenue-sharing model for a 20-year concession period. "The park will come up in a designated recreational green zone. A pre-bid meeting with interested firms has been scheduled for June 30 at the GNIDA office," said a senior official. Inspired by eco-tourism and sustainability, waste to wonder parks are themed around the creative reuse of scrap materials to build sculptures of animals, monuments and other installations. The upcoming park will be modelled on Noida's waste to wonder jungle trail, which is nearing completion. Developed over 20 acres near Mahamaya Flyover, it will undergo a trial run from June 25 and is expected to be officially inaugurated in early July. Built at a cost of Rs 22 crore under a PPP, the project is a collaboration between the Noida Authority and private firm Z-Tech, known for similar projects like UP Darshan Park and Happiness Park in Lucknow. tnn
Time of India
33 minutes ago
- Time of India
Minister hands over compensation for Phase II of Pazhakutty–Mangalapuram Road project
Thiruvananthapuram : Food and civil supplies minister GR Anil on Saturday handed over the compensation for Phase II of the Pazhakutty–Mangalapuram Road project to district collector Anu Kumari. At a formal event held in collectorate conference hall, the minister handed over a cheque of Rs 44.64 crore. The 20km-long and 13m-wide Pazhakutty–Mangalapuram Road is being developed with a total investment of Rs 170 crore from the Kerala Infrastructure Investment Fund Board (KIIFB). The compensation covers land acquired for the second reach of the project, stretching from Mukkam Palamoodu to Pothencode. This phase involves the acquisition of 1 acre and 70 cents from 400 families. Additionally, eight individuals eligible under the resettlement package will receive Rs 9.5 lakh each. The minister directed officials to expedite proceedings and complete compensation disbursement by Sept so that the tendering process can be initiated without delay. In the first reach of the project, 73.4 cent was acquired from 203 families, for which Rs 5.61 crore was disbursed as compensation. The 7km road section from Pazhakutty to Mukkam Palamoodu incurred an expenditure of Rs 35.52 crore, with Rs 12.93 crore allocated for its completion. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo The construction on this stretch is scheduled to begin on July 1. The third reach, from Pothencode to Mangalapuram, involved acquiring 66 cent from 247 families, with Rs 9.46 crore already distributed as compensation. An amount of Rs 47.83 crore has been sanctioned for the construction work, which is currently nearing completion and is expected to be finalised by the end of July. The minister also instructed officials to take necessary steps to ease travel difficulties faced by the public during the construction phase. The review meeting was attended by deputy collector Muhammad Safeer and representatives from various departments.
