Share India Securities considers acquisition of Silverleaf Capital Services

Tech-based financial services provider Share India Securities has announced that it is considering the acquisition of up to 100 per cent stake in Silverleaf Capital Services which operates in the financial services space.

The acquisition will be done by way of merger, share purchase or any other permitted modes of acquisition, the company said.

"The acquisition will add to the company’s technology stack, provide additional product portfolio, aid in diversifying revenue and expedite global expansion," it said in a statement.

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“The proposed acquisition will enable both the entities to streamline their business activities resulting in economies of scale, better and more productive utilization of financial, human and other resources and enhancement of overall business efficiency," it added. "The proposed acquisition is likely to help in diversifying revenue streams and be a value proposition for shareholders.”

Incorporated in 2011, Silverleaf Capital Services is a capital market player involved in trading activities in the nature of high-frequency trading.

Meanwhile, equity shares of Share India Securities on Wednesday fell nearly two per cent to close in red around Rs 1,323. Its shares have climbed more than 25 per cent in the past six months.

Share India offers customised capital market solutions and has recently launched its algo trading platform. Earlier in the first quarter, the company's profit after tax (PAT) increased by 39 per cent YoY to Rs 82.27 crore. The first had posted PAT at Rs 59.1 crore in the same quarter of the previous financial year.

Earlier in July, the company had declared an interim dividend payout of 20 per cent and a final dividend of 45 per cent per equity share having a nominal value of Rs 10 each. 

According to information available on the BSE website, its shares turned ex-date for Rs 2 interim dividend and Rs 4.50 final dividend per share.