Published: October 20, 2026
StartupFeed Quick Take
- PhonePe renamed Share.Market to PhonePe Invest on October 19, three years after launching it in August 2023
- NSE active clients at PhonePe Wealth Broking fell to 2,64,868 in FY26, from 3,55,026 a year earlier
- Holdings, logins, brokerage rates and annual maintenance charges are unchanged
PhonePe renamed its Bengaluru broking platform Share.Market to PhonePe Invest on October 19 and launched Portfolio Optimiser, a tool that rates every holding.
The new name arrives after a hard year underneath it. PhonePe Wealth Broking had 2,64,868 active clients on the NSE in FY26. The year before, it had 3,55,026.
The NSE’s trading member complaint reports put the fall at 90,158 clients, or 25.4%.
The wider market shrank too, but less. Active clients across the NSE fell about 7% in FY26, to roughly 4.57 crore.
PhonePe Invest Keeps Your Holdings, Fees and Login
Nothing in your account changes. PhonePe’s launch statement of October 19 says demat holdings, balances, watchlists, order history and login details all carry over to PhonePe Invest.
Brokerage rates, fee plans and annual maintenance charges stay the same, so existing users keep trading on the same account.
The company behind the app keeps its old legal name, PhonePe Wealth Broking Private Limited. It was set up in April 2021 and holds SEBI registration number INZ000302639.
It is a subsidiary of PhonePe Limited, a member of both the NSE and the BSE, and a depository participant with CDSL.
The platform opened to the public in August 2023 with a Rs 199 onboarding charge. Three years and two months later, it carries the parent’s name.
The app listing changes too, and the download link in PhonePe’s statement now points to a PhonePe Invest page.
Rahul Chari, who co-founded PhonePe and runs its product and technology, put it this way:
“PhonePe Invest marks an important evolution of our wealth offering.”
Rahul Chari, founder and chief product and technology officer, PhonePe. From the company statement, October 19, 2026.
NSE Data Shows Active Clients Fell to 2,64,868
PhonePe Wealth Broking holds roughly 0.6% of all active clients on the NSE, at 2,64,868 in FY26.
The broking arm is small next to the payments app it sits inside. PhonePe’s own company note puts registered users at 71.8 crore in July 2026.
We counted it ourselves: that is roughly one broking client for every 2,700 PhonePe users.
The BSE picture is similar, with 1,24,243 active clients in FY26 against 1,49,657 a year earlier.
| Exchange | FY25 active clients | FY26 active clients | Change |
|---|---|---|---|
| NSE | 3,55,026 | 2,64,868 | Down 25.4% |
| BSE | 1,49,657 | 1,24,243 | Down 17.0% |
The BSE line also shows how fast the early growth came and went. PhonePe Wealth Broking had just 12,536 active clients there in FY24.
Investor complaints fell as well, to 54 at the NSE in FY26 from 336 the year before.
Scale is the harder problem. Groww ended September 2026 with 1.34 crore active NSE clients, Zerodha with 67.92 lakh and Angel One with 67.56 lakh.
That makes Groww about 51 times larger than PhonePe’s broking arm.
Portfolio Optimiser Rates Holdings Hold, Monitor or Sell
Portfolio Optimiser tags every holding in a user’s portfolio as Hold, Monitor or Sell. The tool has three parts: Build, Review and Optimise.
Review pulls a user’s holdings across every demat account into one view.
Optimise is the part that acts, flagging weak holdings and sector concentration and offering a one-click switch.
Build is aimed at first-time investors, on a platform that already offers stocks, IPOs, mutual funds and derivatives.
Diagnostics sit at the centre of it. Portfolio health, diversification and sector concentration are the three things the tool measures.
The research sits on a licence the company already holds. PhonePe Wealth Broking is registered with SEBI as a research analyst and with AMFI as a mutual fund distributor.
The full Portfolio Optimiser runs inside the separate PhonePe Invest app, while guided journeys go into the main PhonePe app for everyday users.
The Rebrand Lands With the IPO Still on Hold
PhonePe is still a private company. SEBI issued its observations on the draft in January 2026, and PhonePe paused the issue two months later as global markets turned.
The planned issue is an offer for sale of up to 5,06,60,446 shares, each with a face value of Re 1. PhonePe itself would raise nothing from it.
Walmart remains the majority owner through its holding company, and Tiger Global and Microsoft are among the investors named as sellers.
Walmart bought into the group through Flipkart in 2018, and PhonePe moved its base from Singapore to India in 2022.
PhonePe Invest now sits beside Indus Appstore on the company’s list of newer businesses. Payments, lending and insurance distribution make up the rest.
No listing date has been set.
What this means for you: If you hold a Share.Market demat account, your shares, fee plan and login are untouched by the rename. Look for PhonePe Invest in your app store this week, and check your holdings before using the one-click switch.
StartupFeed Insightp
A rebrand is cheap. Winning back 90,158 clients is not. PhonePe Invest is pointed at one gap: 71.8 crore payments users, 2,64,868 broking accounts. Portfolio Optimiser is the bridge the company has chosen to build. The risk is that a ratings tool asks a first-time investor to trust a view, not just an order screen. Watch the NSE monthly broker data. If PhonePe Wealth Broking is not adding clients by the January 2027 release, the name change did the talking and the product did not.
By Saraswati Chaubey, Writer
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