IIFL Securities to buy stake in Trendlyne
IIFL Holdings Limited through its subsidiary IIFL Securities plans to acquire approximately 15 per cent stake in Trendlyne, which provides an analytics platform for studying stocks. The site is popular among retail investors, analyst and advisors.
This strategic investment will allow IIFL and Trendlyne provide users access to advanced analytical tools including screener, deep analytics, back-testing, DVM scores, complex querying, custom alerts and superstar portfolio. Both the companies will mutually benefit from this deal.
Trendlyne has more than 3 million monthly page visits and its API engine catering to business to business clients and product platform for business to consumers provide detail information to the data queries of investors. The company plan to use the proceeds of the deal for expansion into international markets including the US, the UK and Canada
IFL Holdings (formerly India Infoline Limited) is engaged in the business of loans, mortgages, asset management, retail broking, investment banking and other financial services through its various subsidiaries.
Meanwhile on Tuesday, the stock of IIFL Holdings was quoting Rs. 479.00 per share, up by 0.43 per cent. The benchmark index BSE Sensex was at 35,505.24, up by 151.16 points or 0.43 per cent.