StanChart raises stake in STCI to 74.9%

Standard Chartered Bank has completed the acquisition of an additional 25.9 per cent stake in Standard Chartered-STCI Capital Markets Limited (formerly UTI Securities Limited) to take its total holding in the company to 74.9 per cent.

The company currently offers its services under the brand ‘Standard Chartered Wealth Managers’. Standard Chartered bought 49 per cent of UTI Securities Limited from Securities Trading Corporation of India (STCI) in January 2008 following, receipt of regulatory approvals for the transaction.