Pantomath buys 37.2% in broking firm Asit C Mehta through subsidiary

Deal struck at Rs 151.4 a share, makes Pantomath arm Cliqtrade Stockbrokers a co-promoter

Investment banking outfit Pantomath Financial Services has acquired a 37.2 per cent stake in broking firm Asit C Mehta. The acquisition was done through its arm Cliqtrade Stockbrokers.

In November 2022, Cliqtrade had acquired 17.1 per cent stake through an open offer. It later acquired an additional 7.7 per cent in December 2022 and another 10 per cent this month. With this Cliqtrade has become a co-promoter in the firm.

Shares of Asit C Mehta were last trading 4 per cent higher at Rs 145.35.

In a release, Pantomath said the acquisition cost is around Rs 151.4 per share. Asit