PhonePe enters stock broking business with new platform offering curated collections

• The platform offers stocks for both intraday trading and long-term holdings, along with mutual funds, exchange-traded funds (ETFs), and WealthBaskets.
  
• WealthBaskets are curated assortments of stocks and investment products by SEBI-registered intermediaries, tailored to specific themes, sectors, or market trends.
  
• For PhonePe users, accessing the app and web platform is straightforward through their linked mobile numbers.
  

PhonePe has announced its foray into the stock broking arena through Share(dot)Market, a venture operated by its subsidiary, PhonePe Wealth Broking. Accessible as a mobile app and dedicated web interface, Share(dot)Market lets retail investors purchase stocks, execute intra-day trades, acquire curated WealthBaskets, and invest in mutual funds.

Share(dot)Market offers a range of investment options, catering to investors from various demographics. The platform offers stocks for both intraday trading and long-term holdings, along with mutual funds, exchange-traded funds (ETFs), and WealthBaskets. WealthBaskets are a curated collection of stocks and investment products by SEBI-registered intermediaries, tailored to specific themes, sectors, or market trends.

Investors and traders will have access to real-time, insights and intelligence integrated into products and self-service tools. This integration will help the decision-making process, and let the customer make informed choices. The platform also includes a dedicated ‘Markets’ section that enables users to monitor stock market trends, indices, individual stocks, and sectors, all supported by a Watchlist tracker.

Says Ujjwal Jain, Chief Executive Officer (CEO), Share(dot)Market, “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.”

For PhonePe users, accessing the app and web platform is straightforward through their linked mobile numbers. Upon login, users can complete the KYC process to activate their broking and demat accounts.

Says Sujit Modi, chief investment officer (CIO), Share(dot)Market, "With our user-friendly interface which will integrate global standard quant research based wealth solutions with broking for research led guidance, we aim to reshape the way investors and traders engage with the stock market.”