Acquisition of Mehta Equities
24 March 2025
Plus500 Ltd.
("Plus500", the "Company" or, together with its subsidiaries, the "Group")
Plus500 enters the well-established Indian futures market
Plus500, a global multi-asset fintech group operating proprietary technology-based trading platforms, is pleased to announce that it has conditionally agreed to acquire the entire share capital (100%) of Mehta Equities Limited ("Mehta"), an Indian financial services company providing, inter alia, broking services including futures, options and cash equities trading products (the "Acquisition").
Strategic rationale
The Acquisition enables Plus500 to expand its geographic footprint into India's large and well-established financial industry, including futures trading. India represents the largest retail trading market globally with over 150bn contracts traded in 2024[1], equating to over 75% of the global transaction volume. The Acquisition provides a compelling opportunity for Plus500 to strengthen its growing global futures offering and drive value-accretive growth by leveraging its market-leading, proprietary technology, best-in-class customer support and in-depth knowledge in the futures market.
The Acquisition will enhance the Group's global scale whilst also being expected to:
+ Boost Plus500's presence in the global futures market, by offering holistic execution and clearing services to both B2B (Institutional) and B2C (Retail) customers
+ Expand Plus500's global operations to include one of the world's largest and fastest-growing economies, as well as one of the most established domestic trading markets
+ Drive the growth of Plus500's existing operations in the US futures market by creating synergies between the two markets
+ Expand the Group's offering to include various Indian financial products and offerings, such as cash equities, options, wealth management, and additional local financial services and solutions
Mehta Equities Limited
Mehta was established in 1995 by Rakesh Mehta. It has grown its operations to include Brokering (futures, options, and cash equities), Portfolio Management Services (Customer Portfolio Management), Investment Banking (Capital Raising, IPOs and M&A) and other custodian services.
Mehta is regulated by the Securities and Exchange Board of India ("SEBI"). It holds memberships of the following exchanges: National Stock Exchange ("NSE"), the Bombay Stock Exchange ("BSE"), the Multi Commodity Exchange ("MCX"), the Metropolitan Stock Exchange of India ("MSE") and the National Commodity and Derivatives Exchange ("NCDEX"). It also holds a clearing membership with the Indian Clearing Corporation ("ICCL").
The completion of the Acquisition is subject to the receipt of certain regulatory approvals and other closing conditions. The consideration is for approximately $20m, which will be funded from Plus500's existing cash balances of approximately $890m as of 31 December 2024 and paid upon completion, subject to certain adjustments.
Mehta is operated by a highly experienced management team and is led by its respected founder, Rakesh Mehta, who will continue to be part of the business following the completion of the Acquisition.
David Zruia, CEO of Plus500 commented:
"We are thrilled to announce this acquisition in India, which marks a significant milestone in our global expansion strategy. 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.
This acquisition aligns with our vision to strengthen our position as a leading multi-asset fintech group, providing seamless and innovative access to financial markets worldwide. We are excited to embark on this journey with Mehta's team and create long-term value for our stakeholders".
Rakesh Mehta, Chairman of Mehta, commented:
"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".
For further details:
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Plus500 Ltd. |
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Elad Even-Chen, Chief Financial Officer Owen Jones, Head of Investor Relations |
+972 4 8189503 +44 (0) 7551 654208 |
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About Plus500
Plus500 is a global multi-asset fintech group operating proprietary technology-based trading platforms. Plus500 offers customers a range of trading products, including OTC ("Over-the-Counter" products, namely Contracts for Difference (CFDs)), share dealing, as well as futures and options on futures.
The Group retains operating licences and is regulated in the United Kingdom, Australia, Cyprus, Israel, New Zealand, South Africa, Singapore, the Seychelles, the United States, Estonia, Japan, the UAE and the Bahamas and through its OTC product portfolio, offers more than 2,500 different underlying global financial instruments, comprising equities, indices, commodities, options, ETFs, foreign exchange and cryptocurrencies. Customers of the Group can trade its OTC products in more than 60 countries and in 30 languages.
Plus500's trading platforms are accessible from multiple operating systems (iOS, Android and Windows) and web browsers. Customer care is, and has always been, integral to Plus500. As such, OTC customers cannot be subject to negative balances. A free demo account is available on an unlimited basis for OTC trading platform users and sophisticated risk management tools are provided free of charge to manage leveraged exposure, and stop losses to help customers protect profits, while limiting capital losses.
Plus500 was admitted to trading on the London Stock Exchange (LON: PLUS) on 24 July 2013. It was admitted to the Equity Shares in Commercial Companies" ("ESCC") Category of the Official List and is a constituent of the FTSE 250 Index. Website: www.plus500.com.
Forward looking statements
This announcement contains statements that are or may be forward-looking statements. All statements
other than statements of historical facts included in this announcement may be forward-looking statements, including statements that relate to the Group's future prospects, developments and strategies. The Company does not accept any responsibility for the accuracy or completeness of any information reported by the press or other media, nor the fairness or appropriateness of any forecasts, views or opinions express by the press or other media regarding the Group. The Company makes no representation as to the appropriateness, accuracy, completeness or reliability of any such information or publication.
Forward-looking statements are identified by their use of terms and phrases such as "believe", "targets", "expects", "aim", "anticipate", "project", "would", "could", "envisage", "estimate", "intend", "may", "plan", "will" or the negative of those, variations or comparable expressions, including references to assumptions. The forward-looking statements in this announcement are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from any results, performance or achievements expressed or implied by such forward-looking statements. Factors that may cause actual results to differ materially from those expressed or implied by such forward looking statements include, but are not limited to, those described in the Risk Management Framework section of the Company's most recent Annual Report. These forward- looking statements are based on numerous assumptions regarding the present and future business strategies of the Group and the environment in which it is and will operate in the future. All subsequent oral or written forward-looking statements attributed to the Company or any persons acting on its behalf are expressly qualified in their entirety by the cautionary statement above. Each forward-looking statement speaks only as of the date of this announcement. Except as required by law, regulatory requirement, the Listing Rules and the Disclosure Guidance and Transparency Rules, neither the Company nor any other party intends to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
[1] Source: the Futures Industry Association (FIA)
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