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27.1.10

business: Edelweiss Capital in deal to buy Anagram Capital

MUMBAI: Broking services firm Edelweiss Capital Ltd said on Wednesday it has signed an agreement to acquire Anagram Capital for 1.64 billion
rupees in an all-cash deal.

Edelweiss plans to operate Anagram as a subsidiary with investments in research, products, training and technology, it said in a press release to the National Stock Exchange.

"This acquisition is in sync with Edelweiss' plan to expand the retail broking business. What makes this transaction exciting is the minimal overlap between the broking operations of both the companies," Rashesh Shah, chairman, Edelweiss Group said.
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