AGSPL will operate in the stock broking sector and has been formed to undertake activities as a stock broker, including dealing in shares, stocks, debentures, bonds, government securities, units of Unit Trust of India, National Savings Certificates, and other securities.
The subsidiary has been incorporated with an authorised share capital of Rs 10 lakh, divided into 1,00,000 equity shares of Rs 10 each. The entire paid-up share capital will be held by Algoquant Fintech, making AGSPL its wholly owned subsidiary and a related party. AGSPL is yet to commence its business operations.
As the promoter company, AFL will hold 100% equity in AGSPL upon allotment of shares.
The official announcement was made on Friday, 13 June 2025, after market hours.
Algoquant Fintech is engaged in the business of trading in financial instruments
The company’s consolidated net profit dropped 90.1% to Rs 0.61 crore on a 2.9% decline in total income to Rs 54.02 crore in Q4 FY25 over Q4 FY24.
The counter slipped 2.16% to Rs 1,015 on the BSE.