IIFL Holdings’ subsidiary IIFL Securities is in the process of acquiring 15 per cent stake in Bangalore-based stock market analytics platform Trendlyne for an undisclosed sum.
“The investment will allow IIFL and Trendlyne to mutually partner and integrate user features like superstar portfolios and stock screeners. IIFL’s investment in Trendlyne is a natural extension of its focus towards providing superior investment solutions,” the financial services firm said in a regulatory filing today.
Founded by Amber Pabreja and Devi Yesodharan, Trendlyne.com aims to simplify investing via its cloud-based, proprietary always-on data-engine strategies that process hundreds of millions of rows of data to give powerful insights in real-time.
Shares of IIFL Holdings were trading 0.75 per cent higher at Rs 450.55 apiece on the BSE.