Prime Securities Limited (BSE:500337) agreed to acquire 41.68% stake in Ark Neo Financial Services Private Limited for INR 20 million on October 22, 2024. In another transaction Subscription to Zero Coupon Optionally Convertible Debentures would be for the total consideration of upto INR 50 Million in one or more tranches.

For the period ending March 31, 2024, Ark Neo Financial Services Private Limited reported total revenue of INR 3.33 million.

Transaction is expected to Complete within 24 months.

Prime Securities Limited (BSE:500337) completed the acquisition of 41.68% stake in Ark Neo Financial Services Private Limited on December 12, 2024. Further, Prime Securities Limited (BSE:500337) will infuse capital into the company by subscribing to optionally convertible debentures. On conversion Prime Securities Limited's (BSE:500337 holding will move above 50%. Prime?s total investment will be to the tune of INR 70 million.