HSBC buys Indian brokerage IL&FS Investsmart

HSBC buys 73% of brokerage firm IL&FS Investsmart in India for $261 million in a deal which gives it an established online trading platform and 138,000 customers.

HSBC has acquired a 73% interest in Indian brokerage firm ILFS Investsmart from its majority shareholders ETrade and Infrastructure Leasing Financial Services for Rs10 billion $241.6 million and will pay ILFS an additional non-compete payment of Rs820 million.

HSBC will buy a 43.85% stake from ETrade Mauritius, a wholly owned subsidiary of ETrade Financial, and 29.36% from ILFS. Both purchases have been priced at Rs200 per share. ILFS will also get Rs820.1...

To continue reading, please login or register for free

Click for more on: hsbc | ilfs investsmart | etrade

Print Edition

FinanceAsia Print Edition


  • Green Bonds Southeast Asia

    25 May 2017  |  Singapore
    With Green Bonds globally reaching USD200 billion outstanding in 2016, from as little as 30bn just 4 years ago, can SE Asia corporations and ...
  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...