Pantomath’s Cliqtrade completes acquisition of significant stake in Asit C Mehta, becomes Co Promoter
Acquires additional 10% stake to now hold 37.19% in the company
by Prashant Kapadia/NHN
February 2022: 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 open offer, on August 10, 2022, to acquire shares from public shareholders. Subsequently, Cliqtrade acquired 17.12% stake in ACM Financial Services on November 23, 2022, and further 7.67% in December 2022. 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 establishment commenced operations in 2013. Promoted by Mr Mahavir Lunawat and Ms Madhu Lunawat, it provides comprehensive investment banking services mid-market enterprises. It is the Investment Manager to India Inflection Opportunities fund which is a Category II, Alternate Investment Fund which 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 and committed to formalising Indian businesses and help 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, 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, Asit C Mehta 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 recognise Indian family businesses would be our key focus area”
Together, the combined strengths of both the Groups are formidably better placed to directly contributing towards the Make in India and Atmanirbharta vision set by Government of India by promoting entrepreneurship on one hand and wealth creation for investors in the other hand.
About Pantomath Financial Group : Pantomath Group founded by the duo Ms Madhu Lunawat and Mr. Mahavir Lunawat is one of the leading diversified financial services group with global presence in more than 12 countries. Over a period of time, the Pantomath Group has emerged as leading mid-market investment bank. It has raised equity funds for more than 125 companies and introduced some of the outstanding businesses to market. Pantomath has been the choicest investment banker of leading corporates and investors and has successfully completed some of the marquee cross-border transactions as well. The Pantomath Group has been fostering capacity building and directly helping businesses raise growth capital. Bina Byaj Ka Paisa; with this motto and the vision to develop Indian business families into global businesses alongside the right ethos
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