IndusInd Bank to acquire IL&FS Securities Services

Posted on:16 Mar 2017 09:32:27
IndusInd Bank to acquire IL&FS Securities Services
16 March 2017 Current Affairs: IndusInd Bank has entered into an agreement with Infrastructure Leasing and Financial Services Ltd (IL& FS) to acquire 100% stake in IL& FS Securities Services Ltd (ISSL).

The private sector bank, however, did not disclose the cost of acquisition or the price at which ISSL shares were acquired. ISSL, which was incorporated in 2007 as a subsidiary of IL& FS, is a capital market intermediary for professional clearing, depository and custodial Services.
IndusInd Bank has entered into an agreement with Infrastructure Leasing and Financial Services Ltd (IL& FS) to acquire 100% stake in IL& FS Securities Services Ltd (ISSL).

The private sector bank, however, did not disclose the cost of acquisition or the price at which ISSL shares were acquired. ISSL, which was incorporated in 2007 as a subsidiary of IL& FS, is a capital market intermediary for professional clearing, depository and custodial Services.

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