InCred Money to acquire discount broking platform Stocko for about Rs 300 crore

In a move to become a full-stack financial services player, InCred Money, the wealthtech arm of the InCred Group, said it plans to acquire discount broking platform Stocko. The transaction, which is pending regulatory approval, will mark InCred’s formal entry into the retail brokerage space.

If cleared, the acquisition will see Stocko—currently operated by South Asian Stocks Limited—rebranded as InCred Stocko and integrated into the broader InCred Money platform. The companies did not officially confirm the valuation, but the ET report suggested that the deal is valued around Rs 300 crore.

“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,” Bhupinder Singh, founder and CEO of InCred Group, said in a statement.

Founded in 2013 as SAS Online, Stocko has carved out a niche for itself in the highly competitive discount brokerage segment. The New Delhi-based firm offers trading across equities, derivatives, commodities and currencies, and operates on a flat-fee pricing model of Rs 12.99 per order. For high-volume traders, it also offers a subscription plan that brings costs down to as low as Rs 2.99 per order. The platform claims a daily notional turnover of approximately Rs 1 lakh crore.

Post-acquisition, the Stocko team—led by CEO Shrey Jain—is expected to continue running operations. Jain said the backing of InCred would accelerate the company’s roadmap for new offerings, including enhanced margin funding and improved trading technology.

The transaction comes amid growing consolidation in India’s fintech and wealth management sectors, where players increasingly seek to offer comprehensive solutions spanning loans, deposits, mutual funds, insurance, and now, brokerage services. For InCred, the addition of Stocko fills a key gap in its product suite, which already includes fixed deposits, alternative investments, and loan products for both retail and institutional clients.

Founded in 2016, the InCred Group now operates across three primary verticals—InCred Finance (non-banking financial company), InCred Capital (institutional and HNI-focused investment services), and InCred Money (digital-first investment platform). The group reported revenue of Rs 1,267 crore in fiscal 2024, up 48% year-on-year, and a profit after tax of Rs 316 crore.