The Business Bytes
TBB BUREAU
MUMBAI, MARCH 4, 2021
Axis Securities, a fully-owned subsidiary of Axis Bank, has emerged as the successful bidder to acquire the trading accounts of Karvy Stock Broking Limited. Karvy customers can start trading with Axis Securities, one of the most trusted bank-led brokerage houses, to make the best of available market opportunities. Simply by clicking on a link, Karvy customers can activate their trading account with Axis Securities. With the acquisition of 11.5 lakh Karvy trading accounts, the customer base of Axis Securities would leap from 25 lakh to 36 lakh, making it the third-largest player in the industry, it said in a statement.
The migration process has been initiated by the Exchanges and once the process is completed, Axis Securities will share trading account details with Karvy customers along with login credentials.
Commenting on the development, B Gopkumar, MD & CEO, Axis Securities, said, “This acquisition of trading accounts is a perfect opportunity for us to empower Karvy customers to tap the right market opportunities backed by our research expertise and holistic range of offerings. We welcome Karvy customers to the Axis Family and assure them of excellent services, seamless onboarding, and a hassle-free trading experience.”
