IIFL Wealth Management gains on completing acquisition of 91% stake in MANPL
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IIFL Wealth Management is currently trading at Rs. 1769.15, up by 2.40 points or 0.14% from its previous closing of Rs. 1766.75 on the BSE.
The scrip opened at Rs. 1775.00 and has touched a high and low of Rs. 1779.85 and Rs. 1764.65 respectively. So far 207 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1945.00 on 20-Sep-2022 and a 52 week low of Rs. 1225.70 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 1830.00 and Rs. 1740.85 respectively. The current market cap of the company is Rs. 15686.25 crore.
The promoters holding in the company stood at 23.19%, while Institutions and Non-Institutions held 26.06% and 50.75% respectively.
IIFL Wealth Management has completed the acquisition of 91% of the paid up equity share capital of MAVM Angels Network (MANPL) on fully diluted basis. Accordingly, MANPL has become a subsidiary of the Company with effect from November 15, 2022. The cost of acquisition is Rs 45.74 crore. MANPL’s investment platform has synergies with product offerings of IIFL Wealth Management and its subsidiaries.
IIFL Wealth Management engages in the retail of financial products and services in India.
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