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S&P
BSE SENSEX
73,730.16
-609.28
-0.82 %
Corporate Announcement
Security Code
532636
Company
IIFL Finance Ltd
Exchange Received Time
16/10/2018 16:16:04
Exchange Disseminated Time
16/10/2018 16:16:07
Time Taken
00:00:03
Announcement under Regulation 30 (LODR)-Acquisition |
10/16/2018 4:16:04 PM
Company would like to intimate the stock exchanges that its wealth management subsidiary i.e. IIFL Wealth Management Limited ("IIFLW") has entered into a share purchase agreement with Wealth Advisors India Private Limited ("WAI") and its shareholders on 16 October 2018 to acquire 100% of the paid share capital of WAI, at a consideration of INR 235,00,00,000/- (plus cash and cash equivalents of INR 18,58,74,000/- to be adjusted as on the closing date). Upon completion of the terms and conditions stated under the agreement, WAI will become a wholly owned subsidiary of IIFLW and its employees will become part of IIFLW, entitled to agreed employment benefits.
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