Mumbai, Nov. 15: Deal Street is buzzing again.

ICICI Venture and Baring Private Equity Asia today picked up a 25 per cent stake in Karvy Stock Broking Ltd (KSBL) for about Rs 500 crore.

Market sources said the two players would be acquiring 20 per cent from the Pacific Century Group and another 5 per cent through an additional investment in the company’s equity.

After the investment, the promoter’s stake will remain at just above 70 per cent.

KSBL offers trading both on the cash and derivatives segment and has an average daily turnover of approximately Rs 1,500 crore.

KSBL chairman C. Parthasarathy said, “We are very pleased to be associated with investors of such a high pedigree. We are committed to creating a strong network across the country and emerge as the top integrated financial services provider in the country. Our relations with ICICI Ventures and Baring Private Equity Asia will help us further strengthen our position.”

A member of the National Stock Exchange and the Bombay Stock Exchange, KSBL has over 580 offices covering over 350 cities, including Dubai and New York.

Besides offering broking services to over 350,000 retail investors, KSBL has a private client desk to cater to high networth individuals and corporate houses and an institutional desk to service foreign and domestic financial institutions.

MAPE Advisory Group acted as the exclusive financial adviser to Karvy and its shareholders.