Publicly-listed multi-asset fintech group Plus500 (LSE: PLUS) announced today (Monday) it has conditionally agreed to acquire Indian financial services company Mehta Equities Limited for approximately $20 million, marking its entry into one of the world's largest retail trading markets.

Plus500 to Acquire Indian Broker Mehta Equities in $20M Deal

The acquisition gives Plus500 immediate access to India's futures market, where over 150 billion contracts were traded in 2024, representing more than 75% of global transaction volume.

"We are thrilled to announce this acquisition in India, which marks a significant milestone in our global expansion strategy," said David Zruia, CEO of Plus500. "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."

Founded in 1995, Mehta Equities provides brokerage services for futures, options, and cash equities, portfolio management, investment banking, and custodian services. The firm holds memberships with major Indian exchanges, including the National Stock Exchange, Bombay Stock Exchange, and Multi Commodity Exchange.

The deal will be funded from Plus500's existing cash reserves of approximately $890 million as of December 31, 2024. Completion is subject to regulatory approvals and other closing conditions.

Mehta's founder and chairman, Rakesh Mehta, will remain with the business following completion. "We are proud and excited to be joining a well renowned and established global fintech group such as Plus500," Mehta said. "We look forward to a successful future together as we work collectively to grow the businesses and take them to the next level."

Futures Move

The acquisition is expected to boost Plus500's presence in the global futures market by offering execution and clearing services to both institutional and retail customers. Additionally, it will expand the company's product portfolio to include various Indian financial products such as cash equities, options, wealth management, and other local financial services.

For Plus500, which already operates in the US futures market, the move into India creates potential synergies between the two markets and furthers the company's plan of becoming a leading global multi-asset fintech group.