New Delhi, Apr 7 (PTI) IIFL Securities on Wednesday said it has begun activation of 11 lakh frozen Karvy Stock Broking's demat accounts and the account holders can now trade or invest on its platform.
IIFL Securities won the official bid to acquire all demat accounts held by Karvy Stock Broking with National Securities Depository Ltd and Central Depository Services Ltd, the brokerage firm said in a statement.
The bidding process which began in early February has finally ended the ordeal of 11 lakh investors of Karvy whose accounts have been frozen for over a year.
The asset under management of these Karvy demat accounts stands at Rs 3 lakh crore.
It gives me immense pleasure to welcome all Karvy account holders. Now their accounts are officially unfrozen and they can start trading or investing with IIFL Securities,
 

The story has been taken from a news agency