IIFL Securities to acquire 15% stake in Trendlyne

Financial services firm IIFL Holdings Tuesday said its subsidiary IIFL Securities was in the process of acquiring 15 per cent strategic stake in Bangalore-based stock market analytics platform Trendlyne for an undisclosed sum.

"The investment will allow IIFL and Trendlyne to mutually partner and integrate user features like superstar portfolios and stock screeners. IIFL's investment in Trendlyne is a natural extension of its focus towards providing superior investment solutions," IIFL Holdings said in a regulatory filing.

Founded by Amber Pabreja and Devi Yesodharan, Trendlyne.com aims to simplify investing via its cloud-based, proprietary always-on data-engine strategies that processes hundreds of millions of rows of data to give powerful insights in real-time.

Shares of IIFL Holdings were trading 0.75 per cent higher at Rs 450.55 apiece on BSE. 

On Saturday, IIFL Holdings said its arm lnfoline Finance is planning to raise up to Rs 5,000 crore via non-convertible debentures.

"India lnfoline Finance Limited, a material NBFC subsidiary of the company (IIFL Holdings), has filed the draft shelf prospectus with the NSE (National Stock Exchange) and the BSE on November 23, 2018, for raising of funds by way of issue of non-convertible debentures through public issue route up to Rs 5,000 crore in one or more tranches subject to necessary approvals," a BSE filing by IIFL Holdings said. 

Earlier this year, IIFL Private Equity Fund, which wants to focus on backing professional entrepreneurs, had raised around Rs 400 crore in the first close achieved this month and has now started marketing itself to global investors.

IIFL Private Equity Fund is registered with Securities and Exchange Board of India (Sebi) as a category-II AIF (alternative investment fund). IIFL Asset Management Ltd on July 19 has made a submission to the US Securities and Exchange Commission (SEC) in a bid to market the product to a wider base.

"The fund achieved its first close in the month of July, in line with our planned schedule. We have already raised around Rs 400 crore in the first close. Post the first close, we continue to see strong investor interest during the fundraising period and continue to accept fresh commitments," IIFL Asset Management told DNA Money.