Share India Securities Limited is considering proposal to acquire upto 100% stake in M/s. Silverleaf Capital Services Private Limited having their registered office at 615, 6th Floor, Damji Shamji Business Galleria, LBS Marg, Kanjurmarg West, Mumbai - 400078 by way of merger, share purchase or any other permitted modes of acquisition.
Incorporated in 2011, M/s. Silverleaf Capital Services Private Limited is a leading capital market player involved in trading activities in the nature of High frequency trading. Acquisition of Silverleaf Capital Services Private Limited is likely to add to company's technology stack, provide additional product portfolio, aid in diversifying revenue and expedite global expansion, thereby adding value to shareholders.
Silverleaf combines Machine Learning, AI techniques and mathematical modeling with in-house low latency software and hardware trading capability to discover and profit from market inefficiencies to offer LowLatency Statistical Arbitrage, Market Making and support for Research Projects.
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. The synergies arising from the acquisition in terms of services and resources can be put to the best advantage of all stakeholders. This endeavor is envisaged to be in the best interests of the shareholders, employees and the creditors of the both entities. The proposed acquisition is likely to help Company in diversifying its revenue streams and be a value proposition for Company's shareholders.
Further, the other terms and conditions pertaining to afore-mentioned proposed acquisition will be disclosed, pursuant to receipt of relevant approval/s from the Board of Directors, shareholders and other relevant statutory and legal authorities, in due course of time.
Shares of Share India Securities Limited was last trading in BSE at Rs. 1350.30 as compared to the previous close of Rs. 1322.80. The total number of shares traded during the day was 1263 in over 284 trades.
The stock hit an intraday high of Rs. 1353.90 and intraday low of 1305.55. The net turnover during the day was Rs. 1679695.00.