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SISL Board approves the scheme of amalgamation of Total Securities with the Company

Posted On: 2018-12-05 23:17:25

The board of Share India Securities Ltd (SISL), a leading knowledge and technology driven financial services group, has approved the scheme of amalgamation of Mumbai based Total Securities with SISL. The Company will issue 16 (sixteen) Equity Share of Rs. IO each, credited as fully paid up, for every 10 (ten Equity Shares of Rs. IO each) equity share held in the Total Securities Ltd. Post the merger the Promoter and Public share holding in the Company stands at 55.65% and 44.35%, respectively. The proposed Scheme of Amalgamation is subject to further approval of the stock exchange, SEBI, NCLT and other competent authorities.

Mr Sachin Gupta, Whole Time Director and CEO, SISL, said "The Net worth of SISL crosses Rs 110 crore post this merger and the company would enjoy a larger net worth and client base, new markets, improved operating efficiency, better profit margins and higher growth potential for the Company. The proposed amalgamation would enhance the shareholders' value of both the Companies".

The combined entity will have employee strength of about 900 and which will enhance company's presence in all segments of Capital Market. The net worth of the merged entity will make SISL among top players nationally and its presence in the financial capital Mumbai, Western and Southern region will help the Company strengthen its service network and enhance business prospects.

Total Securities which has a strong team of over 250 stock market professionals and expert traders working out of Maharashtra, Rajasthan, Gujarat and Tamil Nadu, has in-depth knowledge in the field of derivatives and is leader in jobbing, scalping and runs large proprietary desk.

"SISL which started operations in 1994 and got listed on BSE SME in 2017, conducts business in the areas of equity broking, investing and trading; is also a depository participant, have a dedicated research desk, provide fund management services in the form of mutual fund advisory and PMS. The company has also obtained a Category I Merchant Banking license from SEBI. SISL also has wholly owned subsidiary Windpipe Finvest which conducts NBFC operations. Mr Gupta said.


Source: Equity Bulls

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