India: IndusInd Bank to acquire IL&FS Securities Services

India: IndusInd Bank to acquire IL&FS Securities Services

IndusInd Bank. Photo: Livemint

Private sector lender IndusInd Bank Tuesday said it will buy IL&FS Securities Services Ltd (ISSL), a subsidiary of Infrastructure Leasing and Financial Services (IL&FS) Ltd, in an all-cash deal.

IL&FS Securities Services, incorporated in July 2006, is a capital markets intermediary for professional clearing, depository and custodial services. ISSL services both retail and institutional clients including over 1,000 brokers, FPIs (foreign portfolio investors) and FIIs (foreign institutional investors).

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter