IIFL Wealth Group to acquire L&T Finance Holdings' wealth management business

L&T Finance Holdings announced that IIFL Wealth Group (IIFLWealth) has entered into a definitive agreement to acquire 100% equity shares of L&T Capital Markets (LTCM), a wholly owned subsidiary of L&T Finance Holdings (LTFH) for Rs 230 crore plus the cash & cash equivalent balance of LTCM.

LTCM offers a portfolio of comprehensive products and services across asset classes, together with a dedicated set of research professionals and senior private bankers. The move is expected to further strengthen IIFL Wealth's platform for serving high net-worth and ultra-high-worth families.

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