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Australia's Link Market Services, a provider of registry services and technology to financial market participants in the country, is in advanced stages of talks to pick up a controlling stake in Mumbai-based Sharepro Services, reports The Economic Times. The deal could be worth around $10 million, and is likely to be sealed within a month, the report adds. Apparently, Link Market is looking for up to a 74 per cent stake in Sharepro, while it's willing to offer only up to 51 per cent equity stake.
Sharepro Services is a Sebi-registered category-I registrar and securities transfer agent with depository connectivity for both NSDL and CDSL.
This is not first time a foreign company looking at Indian share transfer and registry services market. Australia's Computershare had formed a joint venture with Karvy way back in 2004. Recently, the US-based private equity firm Advent International invested $90 million for a minority stake in the Chennai-based mutual fund registrar Computer Age Management Services (Cams). See details here.