Acquisitions23 Oct 2024, 12:53 am
Prime Securities to Acquire 51% Stake in Ark Neo Financial Services for INR 700 Lakhs
AI Summary
Prime Securities Ltd. announced the approval of the Board of Directors to acquire up to 51% stake in Ark Neo Financial Services Private Limited, a technology platform for loans against securities in the realm of a loan service provider (LSP). The total investment will not exceed INR 700 lakhs, subject to satisfaction of terms and conditions and regulatory approvals. The acquisition aims to provide guidance and governance to expand the scope and services of the business.
Key Highlights
- Prime Securities to acquire upto 51% stake in Ark Neo Financial Services
- Total investment not exceeding INR 700 lakhs
- Ark Neo Financial Services is a technology platform for loans against securities
- Acquisition aims to provide guidance and governance to expand the scope and services of the business
- Subject to satisfaction of terms and conditions and regulatory approvals