Chennai: IIFL Securities Ltd has said that 11 lakh frozen Karvy demat account holders can now trade or invest on its platform.
IIFL Securities has won the official bid to acquire all demat accounts held by Karvy Stock Broking with National Securities Depository Ltd and Central Depository Services Ltd.
The asset under management for 11 lakh Karvy demat accounts stands at Rs 3 lakh crore.
Sandeep Bhardwaj, CEO, Retail, IIFL Securities said, “It gives me immense pleasure to welcome all Karvy account holders. Now their accounts are officially unfrozen and they can start trading or investing with IIFL Securities.”