The Hindu Business Line : Computershare to buy 50 pc stake in Karvy

The purchase, subject to certain conditions that are expected to be satisfied shortly, will mark Computershare's entry into the Indian financial markets.

Karvy's existing registry business will be renamed Karvy Computershare Pvt Ltd post-buy, the release added.

"The Indian securities market infrastructure and regulatory environment have developed very rapidly over the past few years and provide an excellent environment in which to offer Computershare services," Mr Stuart Crosby, Asia Pacific Managing Director, Computershare, said in the release.

"The equities markets are undergoing rapid growth, with a significant number of large IPOs in the pipeline. The rapid internationalisation of the Indian economy offers outstanding opportunities to showcase Computershare's global capabilities," he added.

Mr C. Parthasarathy, founder, Managing Director and Chairman, Karvy, said: "We do believe that with this partnership, Karvy Computershare will be able to offer a larger service portfolio to its foreign multinational as well as Indian multinational clients."

He added that the new arrangement was likely to throw up new opportunities for cross-border transactions and also help the Indian securities market benefit from the Computershare technologies available in different parts of the world.

Karvy counts the Reliance group, Infosys Technologies, Morgan Stanley, and IDBI among its clients.

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