Cliqtrade Acquires Significant Stake In Asit C Mehta Financial Services

Cliqtrade Stock Brokers on Tuesday said it has acquired an additional 10 per cent stake in broking and financial services firm Asit C Mehta Financial Services Ltd, taking its total holding in the company to 37.19 per cent.

The additional 10 per cent stake or 4.68 lakh shares has been purchased at Rs 151.44 apiece, aggregating the transaction size to Rs 7.08 crore, Asit C Mehta Financial Services said in a disclosure to the stock exchanges.

With this, Mumbai-based Cliqtrade has picked up a total of 37.19 per cent in Asit C Mehta Financial Services through a combination of the share purchase agreements with its promoters and an open offer.
     
Asit C Mehta Financial Services, founded by Asit C Mehta and Deena Mehta, has four decades of experience in providing services across stock broking, wealth management, mutual fund distribution, portfolio management services and advisory services. 

Cliqtrade is promoted by the founders of Pantomath Financial Services Group--Mahavir Lunawat and Madhu Lunawat.

"Cliqtrade has completed an additional 10 per cent stake acquisition of Asit C Mehta Financial Services Ltd, to now hold 37.19 per cent and has established itself as a Co-promoter," the stockbroker said in a separate statement.

In August, the Mumbai-based firm floated an open offer to acquire shares from public shareholders. Subsequently, it acquired a 17.12 per cent stake in ACM Financial Services in November 2022 and a further 7.67 per cent in December 2022. The shares were purchased at Rs 151.44 apiece across all the preceding transactions.

Founded in 2013, Pantomath Financial Services group provides comprehensive investment banking services to mid-market enterprises. It is the investment manager of the India Inflection Opportunities fund which is a Category II, Alternate Investment Fund that provides growth capital at the pre-IPO level.