Financial services firm Karvy today said one of its group companies will acquire a

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majority stake in Bahrain Shares Registering Company WLL (BSRC), the Gulf country's biggest securities registry.

Karvy Computershare Private Limited, the 50:50 joint venture between Karvy and Australia's Computershare, have entered into a "definitive agreement" with KPMG Fakhro to acquire a majority stake in its affiliate, Bahrain Shares Registering Company WLL, a release issued here said.

The 35-year-old BSRC is the largest player in the securities registry business in Bahrain, serving 90% of listed companies in Bahrain, and the acquisition is part of Karvy Computershare's West Asia expansion strategy, it said.

"This acquisition would help us create a path-breaking process for servicing investors in the (West Asia) region," the company's CEO, V Ganesh, said.

Karvy Computershare provides registrar services to mutual funds and corporates across India, servicing 67 million investors across 500 corporate and 29 mutual funds at nearly 500 locations.