Almondz Global Securities to demerge broking biz, list as separate entity

Almondz Global Securities (AGSL) will demerge its broking business into a newly incorporated entity, Almondz Broking Services (ABL), which will list separately.

 

The move is to sharpen the focus on the stock broking business and unlock economic value. The broking business contributes to about a fifth of AGSL’s revenue. 

 

Meanwhile, AGSL’s non-broking business will merge into another listed entity, Avonmore Capital & Management Services (ACMS). ACMS’s other wholly owned subsidiaries will also be merged into the company. Consolidating AGSL’s non-broking business and various subsidiaries into ACMS is designed to simplify the corporate structure.

 

 

As part of the scheme, AGSL shareholders will receive one fully paid-up share of Almondz Broking Services for every one share held. Additionally, for the merger of AGSL’s non-broking business into ACMS, ACMS will issue 1,072 equity shares for every 1,000 equity shares held by AGSL shareholders.

 

Shares of AGSL last closed at Rs 23.6, valuing it at Rs 406 crore, while that of ACMS last closed at Rs 20.8, valuing the firm at Rs 587 crore.   

Anand Rathi Wealth net profit up 33% in FY25

 

Anand Rathi Wealth on Thursday announced a 33 per cent jump in its financial year (FY) 2025 profit compared to the previous year. The company's net profit stood at ₹301 crore in FY25. Total revenue went up 30 per cent to ₹981 crore in the same period. For the quarter ended March 2025, net profit was up 30 per cent year-on-year to ₹74 crore. Compared to the previous quarter (October-December 2024), the profit is down 5 per cent. In an exchange filing, the company also announced the promotion of Joint CEO Feroze Azeez to the position of Deputy CEO. 

 

- BS reporter

 

Dubai Crown Prince Sheikh Hamdan visits BSE

 

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence, visited BSE on Wednesday during his official trip to India. He rang the opening bell to kick off trading and received a briefing on the exchange’s operations. Sheikh Hamdan emphasised the UAE’s commitment to strengthening ties between its financial markets and global counterparts, highlighting the role of digital innovation — such as AI and blockchain — in advancing capital markets in both nations. 

 

- BS reporter