Dhanlaxmi Bank will acquire 15% stake in Destimoney Securities for Rs13 crore, a top company official said today.
'We will acquire a 15% stake in Destimoney Securities to provide online broking, a new initiative from our side,' the bank's Chief Financial Officer ( CFO) Bipin Kabra told PTI here today.
Destimoney Securities is a 100% subsidiary of Destimoney Enterprises, a financial services provider and an advisory company owned and controlled by PE firm New Silk Route.
The total cost of this stake will be around Rs13 crore, Mr Kabra said, adding, 'Our retail customers can benefit from Destimoney Securities' online capital market services. The synergy with Destimoney is expected to increase our overall CASA ( current account, savings account) deposits.'
The bank will also announce its foray into the asset management services business 'in a month or so', Kabra said.
At 10.08 am, Dhanlaxmi Bank was trading at Rs68.40, up by 0.15%, with a volume of 0.18 lakh shares on the BSE.
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'We will acquire a 15% stake in Destimoney Securities to provide online broking, a new initiative from our side,' the bank's Chief Financial Officer ( CFO) Bipin Kabra told PTI here today.
Destimoney Securities is a 100% subsidiary of Destimoney Enterprises, a financial services provider and an advisory company owned and controlled by PE firm New Silk Route.
The total cost of this stake will be around Rs13 crore, Mr Kabra said, adding, 'Our retail customers can benefit from Destimoney Securities' online capital market services. The synergy with Destimoney is expected to increase our overall CASA ( current account, savings account) deposits.'
The bank will also announce its foray into the asset management services business 'in a month or so', Kabra said.
At 10.08 am, Dhanlaxmi Bank was trading at Rs68.40, up by 0.15%, with a volume of 0.18 lakh shares on the BSE.
....more info