Swastika Investmart Ltd has signed an agreement to acquire the business of Safal capital, a 100 years vintage entity of India. This acquisition will enhance the customers base of brokerage company by around 5 per cent. While on the other side, Safal Capital’s customers will get the advantage of Swastika’s stock research team, technology platform, compliances and customer support service.
Commenting on the acquisition; Sunil Nyati, Managing Director at Swastika Investmart Ltd. said, “Swastika Investmart, upon procuring all necessary consents and approvals has signed definitive agreements to acquire client and DP business of Safal Capital Ltd. for undisclosed amount. This will further strengthen its play in the stock brokerage segment. Today Swastika Investmart Limited has 102 branches 2261 sub-brokers, 1031 team members, and more than 2,50,000 customers.”
Safal Capital (India) Limited is a subsidiary of MPSE Securities Limited. After the de-recognition of the stock exchange, all the business of the stock exchange shifted under SSafal Capital (India) Limited, which was incorporated in March 2000 in Ahmadabad (Gujarat).
The Company has the corporate membership of the NSE, BSE, MCX, ICEX, NCDEX, and Metropolitan Stock Exchange Limited. The company has also a Depository Participant of Central Depository of India Limited (CDSL). It has over 16,000 retail clients and 120 sub-brokers.
Swastika is committed to providing full-service brokerage offerings to its customers for which all the systems & processes are automated and all are developed by our technology heads with the use of an in-house built trading app, CRM, algo trading app, trading in stocks of USA based companies.
Source: Mint