Pioneer Investcorp to acquire 51% of Infinity.Com Financial Securities Ltd

With reference to the earlier announcement dated January 27, 2007 regarding the meeting of the Board of Directors of the Company held on January 25, 2007 the Board has resolved to acquire 51% Share Capital of Infinity.Com Financial Securities Ltd. subject to necessary statutory approval from the concerned statutory Authorities, Pioneer Investcorp Ltd has announced that the Company, after receiving necessary approvals from the concerned Statutory Authorities, has acquired 51% Share capital of Infinity.Com Financial Securities Ltd, an existing member of The National Stock Exchange of India Ltd, in Cash Segment, Future & Option Segment, and Wholesale Debt Market Segment and also a member of The Bombay Stock Exchange Ltd, in Cash segment and Whole sale Debt Market Segment.

As on March 31, 2007, after the said acquisition, M/s. Infinity.Com Financial Securities Ltd became Subsidiary of the Company.

Shares of the company closed the day at Rs.61.40, up by Re.0.95 or 1.57%. The total traded quantity was 21615 shares compared to 2 week average quantity of 1181 shares.

Source : Equity Bulls

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