Upstox

Stride Ventures rolls out $300 mn 4th fund as venture debt gains traction

Deployments exceeding Rs 100 crore include companies like BlueStone, Upstox, Moneyview, Ather, among others

Upstox delivers 10x returns to Ratan Tata following partial stake sale

Earlier this year, Upstox's CEO indicated that company is aiming for a public listing within next 2-3 yrs. Upstox is valued at $3.5 bn and currently has a user base of about 1.3 cr, as per statement

Delhi woman loses Rs 24 lakh: Beware of fake investment ads on social media

In recent months, hundreds of individuals across India have fallen victim to stock market investment scams

Brands Join the Conversation with Star Plus 'Dil Ko Tumse Pyaar Hua on Social Media

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Scam alert: Upstox warns investors against cyber fraud, Check details

Online stockbroker flags fake WhatsApp channels that falsely claim affiliation with the company

Broking firm Upstox's revenue surges 44% to Rs 1,000 crore in FY23

It generated Rs 200 crore in operating cash during the last two quarters ended December 2023

Now that we've built size, we'll focus on profitable growth: Upstox CEO

Not all new players, Kumar says, will be able to scale up profitably, and there will always be an opportunity for consolidation in the industry

ESAF SFB IPO subscribed 1.74 times; Upstox settles matter with Sebi

Sebi had issued a showcause notice to the stockbroker in January 2022 for alleged violations of the cyber security and cyber resilience framework

RKSV Securities settles case with Sebi, pays Rs 1.13 cr as settlement fee

Brokerage company RKSV Securities India (Upstox) on Friday settled with capital markets regulator Sebi a case pertaining to alleged violation of regulatory norms. The company paid Rs 1.13 crore towards the settlement charges. The settlement order came after the noticee (RKSV Securities India Pvt Ltd) proposed to settle the instant proceedings initiated against it, without "admitting or denying the findings of facts and conclusions of law". "The instant adjudication proceedings initiated against RKSV Securities India Private Limited vide show cause notice (SCN) dated January 25, 2022 is disposed of in terms of settlement regulations," Sebi's Adjudicating Officer Barnali Mukherjee said in the order. The market watchdog had initiated adjudication proceedings against RKSV Securities India Pvt Ltd (applicant) for the alleged violation of Sebi MIRSD (Market Intermediaries Regulation and Supervision Department) Circular dated December 3, 2018. The MIRSD circular is related to cyber secur

Stock broker Upstox records Rs 1,000 cr operating revenue in FY2022-23

Investment platform Upstox (RKSV Securities India Pvt Ltd) has recorded Rs 1,000 crore operating revenue during the last financial year, a top official said here on Monday. The company which has been recording consistent growth over the last three years would also be launching fixed deposits and was also engaging with some banks and financial institutions in this connection, co-founder Shrini Viswanath said. Upstox's operating revenue (broking revenue) grew 44 per cent in FY2022-23 and breached the Rs 1,000-crore mark, he told reporters. According to Viswanath, the company achieved break-even for FY23 and generated positive net cash of around Rs 130 crore in the fourth quarter of FY23. "Upstox concluded the fiscal with cash reserves of close to Rs 1,000 crore," he said. On the outlook for the current financial year, he said during the last three years, the company witnessed its customer base grow to 1.1 crore as of date from 10 lakh in June 2020. All the efforts are being focussed

Ratan Tata-backed Upstox breaks even in FY23, aims 10x growth in user base

Ratan Tata-backed discount broking company Upstox achieved break-even in FY2022-23 with the overall revenue crossing Rs 1,000 crore, a top official has said. The company, which also counts Tiger Global among its external investors, is aiming for a 10-times jump in its customer base to 10 crores in the next five-six years, its co-founder and chief executive Ravi Kumar told PTI. Its operating revenue grew 40 per cent to Rs 1,000 crore, he said, adding that it also generated a positive net cash flow of approximately Rs 130 crore in the last quarter of FY2022-23. The company's CEO said it has cash reserves of over Rs 1,000 crore now, and is looking for both organic and inorganic growth opportunities. We remain committed to driving growth sustainably and profitably, he stressed. At present, the company, founded in 2009, serves 1.1 crore customers across the country, with over 85 per cent of them being in tier-II and tier-III cities and 70 per cent being first-time investors. Mumbai, D

'Brokerage rates in India are among the lowest, need re-evaluation'

Ravi Kumar says float income generated by the industry is indeed facing challenges and brokerage rates could edge higher

Discount brokers take giant strides; now account for 57% of active clients

The majority of incremental customer acquisition is now happening from tier-2 cities

Online brokers alone can't serve new retail investors: Religare Broking CEO

We have launched an aggressive discount broking plan, Religare One Pro Plan, to counter the discount broker model and attract Gen Z and millennial clients, says Nitin Aggarwal

WealthTech firm Liquide raises $2.2 mn pre-seed led by M Venture Partners

Funds will be used to build a plug and play stock advisory layer to power existing brokerage accounts such as Zerodha, Upstox and Groww

Zerodha, Upstox, Canva services affected as brief outage hits Cloudfare

The issue has now been resolved as the websites using Cloudfare services are working

Upstox doubles user base in six months to 10 mn on strong millennial push

Founded in 2009, Upstox had around one million customers in June 2020 and has grown 10x in less than two years, the company s

We expect our customer base to grow 3x in FY23: Upstox's Ravi Kumar

In a Q&A, the CEO of the discount broking firm says the industry is seeing huge traction from smaller cities and first-time investors

Upstox ropes in Myntra, Oyo executives to bolster leadership team

Harish Narayanan joins as Chief Growth Officer, Jayant Chauhan as Senior Vice President-Finance and Saurabh Agarwal as Vice President-New Initiatives

Online brokerage Upstox allows IPO applications via WhatsApp

Also, the company aims to increase its customer base to 10 million by the end of FY2022 from 7 million currently, Upstox said in a statement.