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.