IIFL's subsidiary to acquire WAI for Rs 235 cr

IIFL Holdings said Tuesday its arm IIFL Wealth Management will acquire Wealth Advisors India Private Limited (WAI) for Rs 235 crore.

In a stock exchange filing, the company said a share purchase agreement with WAI and its shareholders was entered on Tuesday "to acquire 100 per cent of the paid share capital of WAI, at a consideration of INR 235,00,00,000 (plus cash and cash equivalents of INR 18,58,74,000/- to be adjusted as on the closing date)."