London-based online trading company Plus500 has acquired a 100% stake in Indian financial services firm Mehta Equities Ltd. for approximately $20 million. Jefferies believes this acquisition gives Plus500 a “foothold in India's large retail trading market”.
The deal marks Plus500's entry into India's futures market, the largest globally, with over 150 billion contracts traded in 2024—accounting for more than 75% of the world's total transaction volume. The company aims to expand its global footprint and leverage synergies between India and its existing US futures business, it said in a press release.
The transaction will be funded from Plus500's existing cash reserves of $890 million as of December 31, 2024. Completion is subject to regulatory approvals and closing conditions, after which Mehta's management team, including its founder, will continue to be part of the business.
Mehta Equities, founded in 1995 by Rakesh Mehta, offers broking services across futures, options, and cash equities, along with portfolio management, investment banking, and custodian services. It is regulated by the Securities and Exchange Board of India and holds memberships with the National Stock Exchange, BSE, Multi Commodity Exchange or the MCX, Metropolitan Stock Exchange, and National Commodity and Derivatives Exchange. It is also a clearing member of the Indian Clearing Corporation.
"By combining Plus500's 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," said David Zruia, CEO of Plus500. He added that this acquisition aligns with the company's vision to strengthen its position as a leading multi-asset fintech group.
"We are proud and excited to be joining a well renowned and established global fintech group such as Plus500. We look forward to a successful future together as we work collectively to grow the businesses and take them to the next level," said Rakesh Mehta, Chairman of Mehta Equities.
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