Australia-based Link Market Services, a provider of registry services and technology to financial market participants in Australia, is learnt to be in an advanced stage to pick up controlling stake in Mumbai-based Sharepro Services.
The deal, pegged at around $10 million and likely to be sealed within a month, is yet another example of the interest among foreign capital market intermediaries to build a presence in the Indian capital market.
Sharepro Services is a Sebi-registered category-I registrar and securities transfer agent with depository connectivity for both NSDL and CDSL. Sharepro Services CEO Chhaya Shah confirmed that talks were on.
According to sources, the Australian company is keen on picking up a controlling stake of over 51% in Sharepro. The two companies are also learnt to have agreed to let the current management run the daily operations.
Read more in The Economic Times article.
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