Bonanza Portfolio’s digital arm, Bigul, to launch Mutual Funds services for traders and retail investors
Mumbai, 08 November 2023: Online trading platform Bigul, which is a brainchild of Bonanza Portfolio Limited, looks to expand its presence in the ever-evolving financial markets of India by launching Mutual Funds services for traders as well as retail investors. With 100% equity being held by promoters, Bigul intends to expand its presence beyond Maharashtra, Rajasthan and Madhya Pradesh.
Speaking about the growth plans, Mr Atul Parakh, CEO of Bigul, said, “The company started by developing a mobile app, API solutions, and seamless digital integration, which laid the groundwork for a dynamic transformation in the trading industry. Leveraging the power of technology, data analytics, and innovation, Bigul aims to empower individual stock market traders and investors with access to technology and advanced tools that were previously privy to institutions or high-end stock market participants.”
Mr Parakh further added, “What sets Bigul apart from the competition is its unique ability to provide physical and technical services through its applications and platforms. The combination of physical and digital services and state-of-the-art algorithmic trading gives Bigul a significant edge in the market. This powerful synergy between technology and human expertise ensures that traders can access a wide range of tools and services, empowering them to make well-informed decisions in today’s complex trading environment. We want to utilise this USP and diversify our offerings by launching Mutual Funds services in the next quarter. This integration with the Bigul App will provide a seamless and comprehensive experience for traders looking to diversify their portfolios.”
Mutual funds offer investors a convenient and affordable way to invest in a basket of stocks or bonds. Bigul’s integration will make it easier for traders to access and manage these investments. Launched in 2022, Bigul has already gained traction by offering its services to more than 4 lac customers. With the launch of these new services, Bigul will add another 1 million customers by the end of 2025.
The company operates in Equity, Commodity, Currency markets and Mutual Funds with memberships and registrations with the Security and Exchange Board of India -SEBI, National Stock Exchange Limited – NSE, Bombay Stock Exchange Limited – BSE, Multi Commodity Exchange Limited, National Commodity and Derivatives Exchange Limited – NCDEX, Central Depository Services Limited – CDSL and National Securities Depository Limited NSDL amongst other.