The NSE, BSE, and Metropolitan Stock Exchange (MSE) issued circular, dated February 06, 2021, to transfer the Trading, as well as, the demat accounts held by Karvy Stock Broking Limited (Karvy) to another Member/ Participant through a formal bidding process based on laid down eligibility criteria. Axis Securities Limited (a subsidiary of Axis Bank) had participated in the formal bidding process as per the circular. In the process, Axis Securities Ltd. has emerged as the successful bidder for Trading accounts (broking accounts) held by Karvy with NSE, BSE, and MSE. The said transfer of Trading accounts is subject to the remittance of the bid amount and submission of the necessary documents in relation thereto. Once the process is complete, the customer base of Axis Securities will surge from 2.5 million to over 3.6 million.
This article is auto-generated by Algorithm Source: www.financialexpress.com