Religare Enterprises has acquired Chennai based broking company - Shreyas Stocks Private Limited and portfolio management company - Shreyas Advisory Services Pvt Ld.

Singhi Advisors advised Religare on the transaction.

Shreyas Stocks was formed in 1995. It offers services ranging from equity, derivatives and commodity (under Shreyas Advisory Services Pvt. Ltd.) broking apart from depository and portfolio management services.Shreyas has a customer pool of over 5,000 clients who its serves from its network of branches across the country.

Religare Enterprises Limited - owned by Malvinder and Shivinder Singh has outlined a strategy to build a global asset management business with close to $100 Bn in assets under management. As a part of this strategy, Religare has been acquiring companies all across the globe.

It started by acquiring London-based stock broking firm called Hitchens Harrison and Company in 2008. The company also made a bid for AIG's asset management arm with $100 billion in assets under management in 2008 but lost out to Hong Kong-based billionaire Richard Li’s Pacific Century group.

It then acquired the UK operations of South Africa-based financial services firm Barnard Jacobs Mellet (BJM). In February last year, Religare had bought US-based Northgate Capital, a private equity and venture for around $200 Mn.

It also acquired a 50% stake in a Sri Lankan stock broking firm Bartleet Mallory Stock Brokers in September2010. In December it acquired 55% stake in Simsbury, Connecticut-based private equity and real estate investment company Landmark Partners for $171.5 Mn through its US-based wholly owned subsidiary Religare Global Asset Management Inc.

Recently it formed an advisory panel to help the company in getting a banking licence. The panel comprises Suman Bery, former chief of the National Council of Applied Economic Research, and Kiran Karnik.

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KVEZAR VIEW

  DEAL TRACKER FOR

Date	Transaction	Type	Buyer	Size ($mn)
14/10/11	Shreyas Stocks - Religare Enterprises	M&A		-

 

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  Profiles

Company
Name	Promoters	Office	Competitor	Website
Shreyas India Private Limited
Shreyas Stocks Private Limited

  Advisor

Singhi Advisors