IIFL Wealth Management gains on executing SPSHA to acquire 91% stake in MANPL
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IIFL Wealth Management is currently trading at Rs. 1653.90, up by 8.70 points or 0.53% from its previous closing of Rs. 1645.20 on the BSE.
The scrip opened at Rs. 1629.95 and has touched a high and low of Rs. 1683.00 and Rs. 1621.20 respectively. So far 835 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1906.50 on 19-Apr-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. 1722.35 and Rs. 1590.00 respectively. The current market cap of the company is Rs. 14799.41 crore.
The promoters holding in the company stood at 23.21%, while Institutions and Non-Institutions held 25.53% and 51.27% respectively.
IIFL Wealth Management has executed Share Purchase and Shareholders’ agreement (SPSHA) with MAVM Angels Network (MANPL) and its shareholders to acquire 91% of the paid up equity share capital of MANPL on fully diluted basis. The purchase consideration shall be equal to 91% of the enterprise value of MANPL (being Rs 42 crore plus any cash and cash equivalents on the balance sheet of MANPL on closing date).
IIFL Wealth Management engages in the retail of financial products and services in India.
