PhonePe’s Share.Market CEO Ujjwal Jain steps down

Ujjwal Jain, chief executive officer (CEO) of PhonePe’s stockbroking platform Share.Market, has stepped down after completing four years at the Walmart-backed company.

Jain shared the update in a LinkedIn post, describing it as “not a goodbye” but a “relaunch”.

“Decade long Chapter 1 is closed. Chapter 2 starts now — and the barriers I want to break are bigger,” he wrote.


Jain is the founder of investment technology startup WealthDesk, which PhonePe acquired in 2022 for around $50 million.

A year later, he was named the chief executive of Share.Market. As of February 2026, the platform had around 229,383 active investors, per data from NSE.

Share.Market offers mutual funds and stock trading, and competes with stockbrokers like Dhan, Groww, Paytm Money, and Zerodha. In its draft red herring prospectus filed with stock market regulator Sebi, PhonePe said
that as of September last year, the AUM of its mutual fund distribution business stood at Rs 5,838 crore, with around 2.3 million SIPs being executed every month. The company added that it had opened 1.26 million demat accounts on the platform.

While he did not disclose details, Jain indicated that his next chapter will be shaped by opportunities emerging in an “AI-first world” across capital markets and wealth management.

The exit comes at a time when PhonePe has paused its planned $1.3 billion IPO due to pricing concerns, volatile market conditions, and geopolitical tensions.