Explore Now
MUMBAI: IIFL Securities has won the bid to acquire nearly 11 lakh demat accounts held by Karvy Stock Broking with assets under management of Rs 3.01 lakh crore in a formal bidding process organised by stock exchanges and depositories. Axis Securities has won the bid to acquire more than 11 lakh trading accounts held by Karvy Stock Broking, according to sources.
Shares of IIFL Securities rallied more than 15% to Rs 53.95 on Wednesday after the news of acquisition. After the acquisition of Karvy accounts, IIFL Securities the combined accounts will become 13.83 lakhs, the 3rd largest broker India after Zerodha, Upstox. IIFL Securities is likely to pay close to Rs 140 crores for the acquisition, as per sources.
MSCI To Raise Weight Of Bharti Airtel In February Quarterly Index Review, After Hike In FPI Limit
moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.
CESC Ltd Board declares Interim Dividend of Rs 45
equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.