Mumbai, Jan. 27: Edelweiss will acquire Anagram Capital for Rs 164 crore in an all-cash transaction. The buyout will give Edelweiss a presence in retail broking.

Anagram Capital has a pan-India network of 137 branches and over 1,300 sub-brokers with an average daily equity trading volume of around Rs 800 crore.

Following the buyout, Edelweiss plans to operate Anagram as its 100 per cent subsidiary.

According to brokers, the acquisition of Anagram will benefit Edelweiss as its current focus is on institutional broking. Its average daily equity trading volume is around Rs 4,700 crore. Thus, the acquisition of Anagram will make Edelweiss one of the largest brokerages in the country.

The sale of Anagram will signal the Lalbhai group’s exit from the broking business.

Rashesh Shah, chairman of Edelweiss Group, said, “We are already one of the leading institutional broking houses, and the acquisition of Anagram will give impetus to Edelweiss’s retail broking and distribution businesses.’’

Mayank Shah, CEO of Anagram Capital, said the “transaction is a win-win for Anagram clients and employees”.