Dream11 parent to enter stockbroking with Dream Street

Dream Sports, the parent company of sports entertainment platform Dream11, is set to enter India’s competitive stock broking industry with Dream Street, as it looks to tap into the country’s rapidly expanding retail investor base.

Dream Sports CEO Harsh Jain told Moneycontrol in an interview that the company has received all the requisite licenses and is currently testing the product internally, with a public launch expected soon.

Why is Dream Sports foraying into stock broking?

Dream Street aims to target consumers in tier-2 and tier-3 cities with personalised AI-powered investing tools.

"The problem today is that nobody is providing deep and personalised help to the people that lose money in the markets. We see everyone focusing only on the people that make money and keep investing more," Jain said.

"We believe that with AI, we have the capability, the brand, and the user base to grow the market by bringing in people who are hesitant about investing," he said "At the same time, for those who lose money, we want to give them the capabilities of having a Goldman Sachs, Morgan Stanley, or JP Morgan analyst at their fingertips, monitoring their portfolio 24/7 and telling them what to do."

Who will head Dream Street?

Dream Sports chief product officer Rahul Mirchandani, along with Dream11 product leaders Karan Bansal and Nikhil Lalvani, will lead the brokerage arm as co-founders. Mirchandani will serve as its CEO, Bansal will be CBO and Lalvani will be CPO.

The move marks the latest expansion of the Mumbai-based startup's broader financial services and wealth management portfolio.

In December, Moneycontrol reported that Dream Sports split itself into eight businesses each with its own leaders. The company’s investments in sports leagues, including a Mumbai rugby team and an England professional football club, along with its philanthropic arm, the Dream Sports Foundation, bring the total to 11 businesses.

The restructuring came after the government's online gaming law disrupted the company's core fantasy sports business model, wiping out 95 percent of its revenue and all of its profits.

Dream Sports first forayed into financial services with the launch of Dream Money in May 2025.

The app initially allowed users to invest in gold and fixed deposits, and has since expanded to mutual funds and, more recently, loans. It has tied up with companies such as Augmont, ICICI Prudential Mutual Fund and Incred Finance for these offerings.

What's fueling the surge in new entrants in stockbroking industry?

Dream11's entry comes at a time when a fresh wave of fintech and consumer internet companies are moving into India’s stock broking market.

Players such as MobiKwik, which has secured regulatory approvals to launch broking, alongside Flipkart-backed Super.money and Kunal Shah-led CRED, are exploring or building investing offerings.

This push comes despite an already crowded and competitive market dominated by digital-first incumbents such as Groww, Zerodha and Angel One.

How has India's broking industry grown?

Seven of the top 10 brokers saw active investors base grow in February, with the country’s largest broker, Groww, adding more than 2.65 lakh customers during the month.

The second and third largest broking firms by active customers, Zerodha and Angel One, added 10,000 and 11,000 investors. Investors who have traded at least once in 12 months are considered as active by NSE.

The entry also comes as the stricter regulatory measures include tighter margin requirements, reduced weekly expiries, higher capital thresholds, and increased taxation are making derivatives trading significantly less attractive to retail investors.

The recent move to increase the STT tax is also expected to deter speculative trading in futures and options (F&O).

Dream Sports has over 250 million registered users, giving the company a large base to cross-sell its new financial services offerings.

(With inputs from Bhavya Dilipkumar)

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