The open offer including payment of consideration concluded on November 14. Post the completion of the open offer, Cliqtrade acquired further stake in the broking firm as contracted in the share purchase agreement.

Asit C Mehta Financial Services Limited was incorporated on January 25, 1984 in Mumbai and is engaged in the business of stock broking, wealth management, mutual fund, distribution, PMS, advisory, fintech and other related financial services and property rentals.

The group with a track record of nearly four decades got listed on BSE in 1995. Recently, the group launched a new product called ‘Chhota Nivesh Gold’ wherein retail investors can buy digital gold for an amount as low as ₹1.

“We are happy to enter into a strategic tie-up with Pantomath Group founders. Both Madhu Lunawat and Mahavir Lunawat are professionally qualified and raring to take Asit C Mehta Financial Services legacy to a new level,” said Deena Mehta, Managing Direcror, Asit C Mehta Financial Services.