ICICI Securities Limited has announced the acquisition of a 16.12% stake in Bengaluru-based Asknbid Innovation Factory India for a sum of INR 55.6 million.

Asknbid Innovation Factory India is a financial technology company, which operates a platform called Dstreet Games that enables learning about equity markets through simulation.

ICICI Securities said that the deal doesn’t constitute a related party transaction. Furthermore, none of the promoter/promoter group/group companies of ICICI Securities have any interest in the target company, said ICICI Securities.

The Indian capital market company will be buying 3,055 equity shares and 26,068 compulsorily convertible preference shares (CCPSs) in Asknbid Innovation Factory India.

ICICI Securities said that in the normal course of business, it may have business dealings in the future with Asknbid Innovation Factory India at arm’s length.

  Asknbid Innovation Factory India, Bengaluru, Dstreet Games, ICICI Securities, India