Intime Managing Director S Ramanujam confirmed the development. However, he did not disclose the percentage of stake sold nor the deal price.
The acquisition will help Link Group's foray into the country and will result in the creation of one of the largest registry and financial services firms in India. Karvy Computer Share is the other largest company operating in this space.
"Link has committed to invest further in our business. The group is the second leading registry and financial services firm in Australia, New Zealand and South Africa. The joint company - Link Intime - will bring in its global expertise to the Indian market, which will be beneficial to our clients," he added. While Intime was advised by Collins Stewart Inga, Ernst & Young acted as advisors for Link Group.
Link Group has over 650 clients in Australia, New Zealand and South Africa. The company is owned by PEP, which has over $6 billion under equity management.
Mumbai-based Intime has handled initial public offerings, such as, Mundra Port, Kishore Biyani-promoted Future Capital and Central Bank of India, among others.
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The company will be handling the forthcoming Rs 3,000 crore IPO of Future Ventures, which will hit the market in the next four months.
It serves over 850 companies in the share registry space and has presence in seven other major cities in India.