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IIFL Securities, Axis Securities win bids to acquire Karvy accounts


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MUMBAI: IIFL Securities has won the bid to acquire nearly 11 lakh demat accounts held by Karvy Stock Broking with assets under management of Rs 3.01 lakh crore in a formal bidding process organised by stock exchanges and depositories. Axis Securities has won the bid to acquire more than 11 lakh trading accounts held by Karvy Stock Broking, according to sources.
Shares of IIFL Securities rallied more than 15% to Rs 53.95 on Wednesday after the news of acquisition. After the acquisition of Karvy accounts, IIFL Securities the combined accounts will become 13.83 lakhs, the 3rd largest broker India after Zerodha, Upstox. IIFL Securities is likely to pay close to Rs 140 crores for the acquisition, as per sources. ....

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Non-Convertible Debentures: Entry Routes For Foreign Investors - Corporate/Commercial Law


Non-convertible Debentures: Entry Routes for Foreign
Investors
A. Introduction
1
public issues of non-convertible debentures
(
NCDs) and over 1,600
2 private
placements of corporate bonds in India, which is encouraging given
the COVID-19 pandemic and brief loss of investor appetite in the
initial phase of the pandemic.  An increasing number of
M&A transactions also now involve NCDs as a form of
consideration/funding.  As such, the rising popularity of NCDs
as a preferred mode of structured debt in India is not surprising
given the potential return they could provide in times where market
conditions have been uncertain. 
NCDs are essentially debt instruments with a specified ....

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