General Atlantic Singapore buys stake in IIFL arm for Rs 47 cr

IIFL Holdings today said the acquisition of shares by General Atlantic Singapore Fund (GA) in its wealth management arm has been completed for a consideration of Rs 46.67 crore.
Earlier in March 30, IIFL Holdings had disclosed the investment by General Atlantic Singapore Fund Pte in IIFL Wealth Management Limited (IIFLW).
"IIFL Holdings has now informed BSE that the Board of Directors of IIFLW at its meeting held on April 6 noted the transfer of 7,95,519 equity shares by the employees of IIFLW to GA at a price of Rs 586.70 each, constituting a total consideration of Rs 46.67 crore," the company said in a regulatory filing.

The acquisition of equity stake by GA in IIFLW has been completed and GA holds 21.61 per cent of equity share capital of IIFLW, on a fully-diluted basis (i.E assuming full exercise of stock options in future), it added.