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ICICI, Baring in talks to sell Karvy brokerage house

6 Aug 2012

The private equity arm of India’s ICICI Bank and Baring Private Equity Asia are reported to have entered talks with investment banks to sell their minority stake in Karvy Stock Broking Limited (KSBL), the broker owned by financial services firm Karvy Group.

Livemint reported the news on Monday, citing unnamed sources.

ICICI Venture Funds Management and Baring Private Equity Asia together own a 30.95 per cent in the business, following an initial INR5bn investment back in 2007.

KSBL – one of the largest broking and financial services houses in India – specialises equity broking, depository operations, distribution of financial products, advisory services and wealth management services to private clients.

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