On April 2, 1962, a Gujarati businessman named Kalyanji Bhagat launched Matka in his home under the name Worli Matka, marking the beginning of the company's 50-year history. Ratan Khatri was working and had left the Kalyanji to launch his own matka. He made a few adjustments to the Main Bazar matka before quickly moving on to another market.