IIFL Securities in process of acquiring 15 pct stake in Trendlyne

Financial services firm IIFL Holdings Tuesday said its subsidiary IIFL Securities was in the process of acquiring 15 per cent strategic 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," IIFL Holdings said in a regulatory filing.

Founded by Amber Pabreja and Devi Yesodharan, Trendlyne.com aims to simplify investing via its cloud-based, proprietary always-on data-engine strategies that processes 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 BSE.

(With inputs from agencies.)