Priyani Ratna Gopal entered into an agreement to acquire the remaining 76% stake in IIFL Securities Ceylon Limited from India Infoline Limited for LKR 50 million.

Priyani Ratna Gopal entered into an agreement to acquire the remaining 76% stake in IIFL Securities Ceylon (Private) Limited from India Infoline Limited (NSEI:INDIAINFO) for LKR 50 million on January 6, 2014. IIFL Securities Ceylon (Private) Limited had total assets of LKR 161.68 million, revenues of LKR 81.2 million, loss before tax of LKR 26.49 million and net loss of LKR 24.41 million for the year ended March 31, 2013. The transaction is subject to regulatory authorities in Sri Lanka and India.

The transaction is expected to close on March 31, 2014.