Anagram has a nation-wide network of more than 169 branches, 1,360 sub-brokers, 2,556 terminals and a professional team of 2,000 plus employees spread across major metros and states in India.
Edelweiss intends to operate Anagram as a subsidiary with focus on continuity and building on the current business and people with investments in research, products, training and technology.
Rashesh Shah, chairman of Edelweiss Group, said: “This acquisition is in line with the company’s plan to expand the retail broking business. The acquisition of Anagram with its reach and diversified client base will give impetus to Edelweiss’ retail broking and distribution businesses. What makes this transaction exciting is the minimal overlap between the broking operations of both the companies.”
Mayank Shah, CEO of Anagram Capital, said: “This transaction is a win-win for our clients and employees. We are confident of being able to bring together the company’s strong platform with Edelweiss’ unique research, technology and breadth of products.”
However, the acquisition is subject to regulatory approvals.
Anagram Capital, a part of the INR20bn Lalbhai Group, is a retail broking house. The group companies in the capital and commodities market area include Anagram Capital and Anagram Comtrade. In addition to online account access and real time trading, Anagram offers a range of services for equity investors.
