Swastika Investmart acquires the Safal Capital

In a press statement, the stockbroking firm, Swastika Investmart Ltd informed that it has inked an agreement to acquire Safal capital. Safal capital is a 100 years company in India. Swastika Investmart further informed that the acquisition of Safal Capital will help them to boost their customer base by around 5%. On the other hand, customers of Safal Capital will be benefitted from Swastika’s stock research team, technology platform, compliances, and customer support service. Swastika Investmart Ltd is a member of NSE, BSE, MSEI & Depository participant of CDSL & NSDL. It is also registered as a Category Merchant Banker with the Securities and Exchange Board of India (SEBI). Other than this, it is also a member of commodity exchanges viz. MCX, NCDEX & ICEX. The firm has several accolades in its field. Swastika Investmart has been awarded for great contribution in SME listing - 2017 by National Stock Exchange. Also, it was awarded the Best Brokerage House Central India 2016 - 2019 by MCX & several awards by NCDEX and NSDL. After the acquisition, the Managing Director of Swastika Investmart Ltd, Sunil Nyati said: "Upon procuring all necessary consents and approvals, Swastika Investmart has signed definitive agreements to acquire client and DP business of Safal Capital Ltd. for undisclosed amount. This will further strengthen its play in the stock brokerage segment. As of now, Swastika Investmart Limited has 102 branches 2261 sub-brokers, 1031 team members, and more than 2,50,000 customers.”