The acquisition was for a total cash consideration of Rs 230 crore plus available cash balance of L&T Capital Markets
IIFL Wealth shares are available in trade for trade (T to T) segment for 10 trading days from the date of commencement of trading.
While there are multiple growth levers in the long term, potential stake sale in fee based business can be an immediate trigger for the stock
SEBI reducing MF charges will hurt wealth managers that largely rely on MF distribution revenue. AMCs are relatively better placed with multiple options to limit the adverse impact
While the company, with diversified business segments, has many growth drivers, we are most excited about its wealth management business
IIFL Holdings, in October, announced that General Atlantic will make a strategic investment to become a minority shareholder in its wealth subsidiary IIFL Wealth Management.
Let‘s Stay Rich is an initiative started by CNBC-TV18 and the Indian Super League to help the players of this premier football league manage their money better. Narayan Das, Defender of FC Goa discusses money matters with Gaurav Mashruwala a Certified Financial Planner and Umang Papneja, CIO of IIFL Wealth Management.
Global private equity firm General Atlantic Singapore Fund Pte Ltd will acquire 21.61 per cent shareholding in IIFL Wealth Management Ltd, the wealth management subsidiary of IIFL Holdings Ltd, for an estimated Rs 1,122.34 crore.
India, last year, was the world's fastest growing wealth management market, according to a CapGemini and RBC Wealth Management study published in June, spurred largely by rising personal income as well as a boom in e-commerce start-ups that has also attracted foreign investors.
Karan Bhagat, MD and CEO of IIFL Wealth Management says the firm finds huge opportunity in filling gaps in B2B and B2C deals through the â€˜illiquid and risky asset class‘- start-ups.