IIFL Securities Ltd to acquire additional 6.25% stake in Trendlyne

IIFL Securities Limited ('Company'), further to its present investments in the shares of Giskard Datatech Private Limited ('Trendlyne'), has agreed to acquire additional stake of Trendlyne i.e. 6.25% of the share capital on fully diluted basis from one of the existing investor in Trendlyne, pursuant to the terms of the Share Purchase Agreement. Post-acquisition, IIFL Securities Limited shall hold 20.55% of the share capital of Trendlyne on fully diluted basis. Pursuant to this Giskard Datatech Private Limited shall become an Associate of the Company.

Giskard Datatech Private Limited (“Trendlyne”) is engaged in the business ofdeveloping cloud-based analytics and modelling platform for stock market investors, analysts and advisors.

Shares of IIFL Holdings Limited was last trading in BSE at Rs. 40.05 as compared to the previous close of Rs. 40.10. The total number of shares traded during the day was 54873 and the deliverable quantity was 39206 shares.

The stock hit an intraday high of Rs. 41.65 and intraday low of Rs. 39.25. The total turnover during the day was Rs. 22.12 lakhs.

Source : Equity Bulls

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