Pantomath’s Cliqtrade completes acquisition of the significant stake in Asit C Mehta, becomes Co-Promoter

 

Mumbai:  Mumbai-based Company "Cliqtrade Stockbrokers Pvt Ltd" promoted by the founders of "Pantomath Financial Services Group", has acquired a significant stake in 'Asit C Mehta Financial Services Ltd' (ACMFS), a listed firm on the bourses that has 4 decades of experience in providing services across stock broking, wealth management, mutual fund distribution, portfolio management services, advisory, and other related activities as per the notification on the exchanges.

'Cliqtrade' has completed an additional 10% stake acquisition of 'Asit C Mehta Financial Services Ltd', to now hold 37.19%, and has established itself as a Co-Promoter.

'Cliqtrade' had earlier floated an open offer, on August 10, 2022, to acquire shares from public shareholders. Subsequently, 'Cliqtrade' acquired a 17.12%stake in ACM Financial Services on November 23, 2022, and a further 7.67% in December 2022. The purchase price of shares has been Rs 151.44 per share across all the preceding transactions

'Pantomath Financial Services Group' is one of the fastest-growing financial services establishments that commenced operations in 2013. Promoted by Mr. Mahavir Lunawat and Ms. Madhu Lunawat, it provides comprehensive investment banking services to mid-market enterprises. It is the Investment Manager to India Inflection Opportunities fund which is a Category II, Alternate Investment Fund that provides growth capital at Pre IPO level.

On the strategic tie-up, Founder and MD of Asit C Mehta, Ms. Deena Mehta said “ACM has been at the forefront of promoting capital market institutions and facilitating reforms. Our visions are aligned with macro priorities to achieve greater heights in financial markets. Pantomath, on the other hand, is fast growing investment bank committed to formalizing Indian businesses and helping them grow beyond barriers. We are happy to enter into this strategic tie-up.”

On the acquisition of shares and way forward, Ms. Madhu Lunawat, Pantomath Co-Founder and Director of ACMFSL said “ In less than a decade from our inception we have emerged as a leading financial conglomerate focusing on mid-market segment. 100+ successful initial public offerings, the launch of our AIF, and merging our PMS with ACM is  in line with our diversification plans and is to accentuate offerings and augment what the combined entity can achieve across financial services be it investment banking, wealth, and fund management, institutional outreach, stock broking besides others”

Additionally, Ms. Lunawat states “A legacy of over 4 decades, ACM has a large network of stock brokers and traders and is emplaned with several leading financial institutions and bank treasuries. Supporting entrepreneurship, creating wealth, and bringing the globe to recognize Indian family businesses would be our key focus area.”

Together, the combined strengths of both the Groups are formidably better placed to directly contribute towards the Make in India and Atmanirbharta vision set by the Government of India by promoting entrepreneurship on the one hand and wealth creation for investors on the other hand.