Anand Rathi buys Religare's wealth management arm

Following the deal, Anand Rathi's AUM will rise to Rs 135 billion from Rs 100 billion

Anand Rathi Wealth Management said on Friday it bought Religare Enterprise Ltd's wealth management business for an undisclosed amount.

Following the deal, Anand Rathi's assets under management will rise to Rs 135 billion ($2.01 billion) from Rs 100 billion, the company said in a emailed statement.

 

($1 = Rs 67.0900)