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Mergers & Acquisitions | 28 October 2010

Dhanlaxmi Bank To Buy 15% Stake In Destimoney Securities

by Khyati Doshi
Dhanlaxmi Bank To Buy 15% Stake In Destimoney Securities
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Dhanlaxmi Bank is set to acquire 15 % stake in Destimoney Securities Pvt. Ltd. (DSPL) for Rs.13 Cr.

The stake acquisition is a part of Dhanlaxmi’s strategic plan to be an integrated financial solutions company.

Destimoney Securities is a 100 % subsidiary of Destimoney Enterprises Pvt Ltd (formerly Dawnay Day), a full-service financial services provider and an advisory firm which is owned and controlled by PE firm, New Silk Route (NSR).

Founded in 2006, New Silk Route is an Asia-focused growth capital firm founded in 2006 with $1.4 billion under management, focused on the Indian subcontinent, as well as other rapidly growing economies in Asia and the Middle East.


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