Leading stockbroker, Swastika Investmart Ltd. (BOM: 530585) 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 Swastika by around 5%. 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.
Swastika Investmart Ltd is a member of NSE, BSE, MSEI & Depository participant of CDSL & NSDL. The company is also registered with SEBI as a Category Merchant Banker. Swastika Group has a membership of commodity exchanges viz MCX, NCDEX & ICEX.
The swastika has been awarded for great contribution in SME listing - 2017 by NSE, Best Brokerage House Central India 2016 - 2019 by MCX & multiple awards by NCDEX and NSDL. Safal Capital (India) Limited is a subsidiary of MPSE Securities Limited.
Commenting on the acquisition, Sunil Nyati, Managing Director; Swastika Investmart Ltd. said that "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.”
