Prime Securities Limited to foray into Wealth Management business

The Board of Directors of Prime Securities Limited, at their Meeting held today, i.e. June 10, 2024, has considered and approved the commencement of a Wealth Management Business through a Wholly-owned subsidiary of the company.

The Wealth Management services will complement the existing business of the Prime Group. The management believes that a foray into this field will be synergistic and value accretive to the shareholders of Prime group, as it increases the gamut of related services.

For this purpose, the Board of Directors has approved a capital investment of up to INR 10 cr, to be made as and when required.

The proposed foray into Wealth Management is subject to necessary regulatory / statutory approvals, including the approval of shareholders, if any, as may be required under the applicable laws.

Shares of Prime Securities Limited was last trading in BSE at Rs. 197.40 as compared to the previous close of Rs. 202.25. The total number of shares traded during the day was 931 in over 108 trades.

The stock hit an intraday high of Rs. 210.00 and intraday low of 196.40. The net turnover during the day was Rs. 185687.00.

Source : Equity Bulls

Keywords

PrimeSecurities INE032B01021 WealthManagementBusiness Subsidiary