INSUBCONTINENT EXCLUSIVE:
IIFL Wealth Management issued 44.90 lakh shares to WF Asian Reconnaissance Fund, Rimco (Mauritius) Limited, Amansa Holdings, General
Atlantic Singapore Fund, Steadview and HDFC Standard Life Insurance
The deal values the wealth management firm, one of the largest in the country, at Rs 14,621 crore.
After the transaction, IIFL Holdings will
own 51.11 per cent of its wealth management arm on a fully diluted basis
chairman IIFL Holdings.
In 2015, General Atlantic Singapore Fund picked up 21.61 per cent stake in IIFL Wealth for Rs 1,122 crore
The firm, founded in 2008, was valued at roughly Rs 5,200 crore.
