IIFL Securities

IIFL Securities surges on entering into SPA for sale of entire stake in Giskard Datatech

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IIFL Securities is currently trading at Rs. 94.70, up by 1.60 points or 1.72% from its previous closing of Rs. 93.10 on the BSE.

The scrip opened at Rs. 94.50 and has touched a high and low of Rs. 96.15 and Rs. 92.80 respectively. So far 53819 shares were traded on the counter.

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The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 128.55 on 22-Jul-2021 and a 52 week low of Rs. 41.95 on 23-Feb-2021.

Last one week high and low of the scrip stood at Rs. 96.15 and Rs. 87.50 respectively. The current market cap of the company is Rs. 2880.81 crore.

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The promoters holding in the company stood at 31.38%, while Institutions and Non-Institutions held 19.80% and 48.82% respectively.

IIFL Securities has entered into a Share Purchase agreement (SPA) on December 10, 2021 for the sale of its entire stake (21.47%) in Giskard Datatech (Trendlyne), an associate of the Company, to IIFL Capital Enhance Fund (AIF Category II). Upon completion of formalities under the SPA, Trendlyne will cease to be an associate of the Company.

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IIFL Securities operates as an investment management company. The Company offers insurance, loans, mutual funds, property solutions, and wealth management services.