LONDON: Plus500, a global multi-asset fintech group, announced Monday that it has conditionally agreed to acquire 100% of Mehta Equities Limited, an Indian financial services company specializing in broking services, including futures, options, and cash equities trading.
The acquisition, valued at approximately $20 million, is part of Plus500’s strategy to expand its geographic footprint into India’s rapidly growing financial market.
India, the world’s largest retail trading market, saw over 150 billion contracts traded in 2024, accounting for more than 75% of global transaction volume. The acquisition of Mehta Equities positions Plus500 to tap into this lucrative market, leveraging its proprietary technology and expertise in the futures market to drive growth.
“This acquisition marks a significant milestone in our global expansion strategy,” said David Zruia, CEO of Plus500. “By combining our cutting-edge technology with Mehta’s local presence and expertise, we aim to accelerate growth and unlock new opportunities in this dynamic and fast-growing market.”
Founded in 1995 by Rakesh Mehta, Mehta Equities has grown to offer a range of financial services, including brokering, portfolio management, investment banking, and custodian services. The company is regulated by the Securities and Exchange Board of India (SEBI) and holds memberships with major Indian exchanges, including the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
The acquisition is expected to enhance Plus500’s global scale by boosting its presence in the futures market, expanding its operations into one of the world’s fastest-growing economies, and creating synergies with its existing U.S. futures market operations. Additionally, the deal will allow Plus500 to offer a broader range of Indian financial products, including cash equities, options, and wealth management services.
Rakesh Mehta, Chairman of Mehta Equities, expressed enthusiasm about the partnership. “We are proud to join a renowned global fintech group like Plus500,” he said. “We look forward to a successful future together as we work to grow the businesses and take them to the next level.”
The completion of the acquisition is subject to regulatory approvals and other closing conditions. The consideration will be funded from Plus500’s existing cash balances, which stood at approximately $890 million as of Dec. 31, 2024.
Following the acquisition, Rakesh Mehta will continue to be part of the business, ensuring continuity and leveraging his extensive experience in the Indian financial market.