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Arihant Capital Markets transfers entire equity stake of Electrum Portfolio Managers to Electrum Capital

Electrum Portfolio Managers would cease to be subsidiaries of the company.

December 06, 2021 1:01 IST | India Infoline News Service
Analysis Finance Market
Arihant Capital Markets Limited informed the exchanges Saturday about the transfer of the entire equity stake of Electrum Portfolio Managers Limited (formerly known as Arihant Asset Management Limited).

The company said that a tripartite share purchase agreement has been executed by and between Electrum Portfolio Managers, company and Electrum Capital Private Limited (the acquirer) to sell and transfer the entire equity stake held by the wholly-owned subsidiary referred to as Electrum Portfolio Managers to Electrum Capital and after transfer of entire stake and completion of the formalities comprised under the SPA Electrum Portfolio Managers would cease to be subsidiary of the Company.

At around 1.05 pm, Arihant Capital Markets Ltd was trading at Rs149.45 per piece up by Rs0.45 or 0.3% from its previous closing of Rs149 per piece on the BSE.

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