Capital market veteran and founder of Antique Securities Private Ltd., Kirti Doshi, acquired 21% stake in Emkay Global Financial Services Ltd. on Monday, according to a press release.
The investment has been made by Doshi through Antique Securities, which is his family-controlled entity.
Emkay has also received additional equity investment from the existing promoters Krishna Kumar Karwa and Prakash Kacholia.
"Together, the total capital infusion stands at 227.5 crores," the release stated.
Commenting on the investment, Doshi said, "I am privileged to invest in Emkay, a company that has consistently demonstrated integrity, client focus, and resilience for over 30 years. Together with the Founders, and with the support of the management, we look forward to building stronger businesses, leveraging innovation, and creating enduring value for all stakeholders."
The co-founders and promoters of Emkay Global, Krishna Kumar Karwa and Prakash Kacholia, stated, "Over three decades, Emkay has grown with deep trust, resilience, and customer commitment. We are delighted to welcome Kirti Doshi. He brings unmatched industry expertise and strategic foresight, which will be invaluable as we strengthen our leadership and prepare for the next phase of growth."
Shares of Emkay Global on Monday soared 20% to settle at Rs 315.57 apiece on the NSE. The stock has fallen 0.01% year-to-date but risen 57.71% in the last 12 months.
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