Nuvama completed the acquisition of a 74% stake in Pickright.

Nuvama, a financial services company, completed the acquisition of a 74% stake in Pickright, a fintech marketplace platform. Financial terms were not disclosed. “It has been observed that the wealth management industry is focused on transaction-based investment services. We realized that there is a huge need for financial advisory across the affluent segments. And that’s the primary reason why we acquired a majority stake in Pickright, which offers smart advisory services,” said Rahul Jain, Nuvama President .