Citigroup buys 19.9% in Anand Rathi

Global investors Citigroup Venture Capital International has picked up a 19.90 per cent stake in Anand Rathi Securities Ltd, a leading securities firm, for an undisclosed amount. The funds raised will be deployed for faster growth, both organic and inorganic, and to meet working capital requirements, Anand Rathi Securities said in a release here today.

“We are happy to have CVCI as a financial partner with us for our long-term growth. Financial partnership with a renowned international fund like CVCI and extra resources will assist us in achieving faster growth,” Company chairman Anand Rathi said.

“The funding will be used to further expand the company’s network of branches and create yet greater value for our customers through advanced technology,” he said.

Anand Rathi Securities was set up in 1994 and is a full-service securities firm with a presence in more than 350 locations across India and offices in Dubai and Bangkok.