After Nomura Securities, Worldsec will be the second Japan-based firm to invest in an Indian broking firm. Prime Broking, which is an institutional and corporate share and stock broking unlisted company of Prime Securities, will witness a proposed investment to the tune of $5 million from the said company. This investment is, however, subject to due diligence, the FIPB and other approvals. The Worldsec Group is a financial services group, which is an affiliate of Bank of Tokyo Mitsubishi.

With the aforesaid investment by the Worldsec Group, the company's stake in the equity of PBCIL will stand reduced to 25 per cent, with Worldsec's holding at 75 per cent. Further, it is also proposed that a part of the amount so invested in PBCIL will be invested byPBCIL in the equity share capital of Prime Securities on terms and conditions to be decided subsequently.

A copy of the letter was forwarded to the listing department of the Bombay Stock Exchange on June 19. The Worldsec Group focuses on providing independent value-added services to the clients in relation to Asian equity and related services. It also provides research-driven advisory stock broking services to institutional, corporate and retail investors wishing to participate in the securities markets of Asia. Interestingly, the group is also engaged in futures and option trading and providing nominee service to Asia-based corporates.