Nuvama Wealth Management on Thursday reported a 41 per cent growth in net profit to Rs 255 crore for the fourth quarter ended March 2025. The wealth management firm earned a profit after tax of Rs 181 crore in the March quarter of 2023-24. Its total income rose to Rs 1,125 crore during the March quarter from Rs 929 crore in the corresponding quarter of FY24. For the full 2024-25 fiscal, Nuvama Wealth reported a 58 per cent growth in net profit to Rs 985 crore. In FY24, it had a profit of Rs 625 crore. Nuvama Group MD & CEO Ashish Kehair said in the Wealth Management business, the company saw strong momentum in net flows. "We continued to invest substantially for growth, we added sales capacity and expanded our geographical reach, including offshore. We further strengthened our digital infrastructure, including integration of AI tools to serve our clients better," Kehair said. The company's board has announced an interim dividend of Rs 69 per equity share of the face value of Rs 1
Jain explained that the GCCs' increased leasing in India has to do with the quality of talent, skill availability, and the possible cost arbitrage in India
Groww to acquire Fisdom for $150 million as part of its wealth management expansion; the IPO-bound firm also plans to raise funds from Singapore-based GIC
Ionic Wealth, a wealth management firm, is aiming to expand into tier-two and tier-three cities, where high-net-worth individuals (HNIs) are shifting from traditional savings instruments to financial assets, its top official said. This strategic focus reflects a broader trend among HNIs in emerging regions who are increasingly looking for more sophisticated financial solutions. "We believe there is immense potential in Tier 2 and 3 cities, where HNIs are moving from traditional savings to financial assets, spurred by strong market performance during and after the pandemic. These investors are now accessing everything from simpler products like stocks and mutual funds to sophisticated solutions such as PMS and AIFs," Srikanth Subramanian, who is co-founder and CEO at Ionic Wealth (By Angel One) told PTI in an interaction. Recognizing the gap in these underserved markets, Ionic Wealth is focusing on a robust hybrid model combining technology with human advisory. This approach aims to
360 ONE Wealth and Asset Management Ltd (360 ONE) on Tuesday said it proposes to acquire wealth management business of UBS India. Under the proposed deal, Switzerland-headquartered UBS India will pick up a 4.95 per cent stake in 360 ONE through warrants, according to an exchange filing. As part of this collaboration, it is proposed that clients from both institutions will have access to onshore and offshore wealth management solutions, 360 One said in a regulatory filing. Potential collaborative opportunities for asset management products and investment banking services will also be explored, it said. In addition, 360 ONE will acquire UBS's onshore wealth management business in India through its subsidiaries, it said. UBS will also purchase warrants amounting to 4.95 per cent stake in 360 ONE, demonstrating UBS's commitment to the fast-growing ultra and high-net-worth Indian market, it said. The entire transaction will be subject to the necessary regulatory approvals, it added.
Business sentiment has been impacted by global uncertainties and a minor macro slowdown in India
Based on the identified goals and risk profiles, investors can construct diversified portfolios that optimise returns while minimising risks associated with each specific goal
Ladhani Group-owned company plans to double its revenue to Rs 20,000 crore by FY31
Blackstone Inc.-backed PAG is working with financial advisers on a strategic review of its more than 54 per cent stake in the Indian wealth manager
Fortunes of stock brokers and asset managers, analysts suggest, are directly linked with how the primary and secondary markets play out.
As the Dubai International Financial Centre (DIFC) continues to bolster Dubai's position in the Middle East, Africa and South Asia (MEASA) region's financial services capital during its 20th year, a significant list of Indian names has been joining the bandwagon. Significant Indian company names added this year include ASK Asset & Wealth Management Group (Wealth Management), AI/tech unicorn, Nagarro. According to a statement released here on Tuesday, Middle East & Asian countries contributed the highest (51 per cent) for DIFC's growth in 2024. Indian companies under financial services include Bharat Re Global Ltd, El Dorado Capital Ltd, Beacon Insurance Brokers, Fort Capital, Mahindra Insurance Brokers, and Nuvama Wealth and Investment Ltd. DIFC houses 6,920 companies, up from 5,523 in 2023, registering a 25 per cent increase. DIFC attracted 1,823 new registrations, the highest-ever number recorded in a year, showcasing historic growth of 25 per cent. Combined revenues for ...
The trip comes as StanChart is scheduled to start its global wealth campaign in India, and Winters is scheduled to meet key clients, a spokesman said in response to emailed questions on Monday
Dubai-based wealth management advisory firm NAV Capital on Wednesday announced the launch of its first India-focussed close-ended AIF Fund (Category 2) and plans to raise Rs 500 crore in the first round. NAV Capital is a category 3A entity regulated by the Dubai Financial Services Authority (DFSA). The new fund will primarily look for investment opportunities in the pre-IPO stage of companies in the high-growth sectors and small and medium enterprises (SMEs) with high-growth potential prospects. "NAV Capital plans to raise Rs 500 crore in the first round, which will be deployed over 18 months. Of the total corpus, the fund plans to allocate a minimum of 51 per cent capital in unlisted companies and up to 49 per cent in the listed space," it said in a statement. NAV Capital said the fund will be sector-agnostic, focusing on companies in banking and financial services, consumer goods and retail, chemicals and materials, technology and innovation, and infrastructure and logistics. Wit
The number of individuals with more than $30 million of assets is expected to grow by 50% between 2023 and 2028, according to a Knight Frank wealth report
Nemali, who has over three decades of wealth management experience, is joining from Deutsche Bank, where he was most recently the chief operating officer for wealth management
The initial public offer of investment bank DAM Capital Advisors Ltd received 6.98 times subscription on the second day of share sale on Friday. The IPO got bids for 14,52,54,503 shares against 2,08,04,632 shares on offer, as per data available with the NSE. Non-Institutional Investors part received 11.49 times subscription while the category for Retail Individual Investors (RIIs) got subscribed 8.96 times. Qualified Institutional Buyers (QIBs) garnered 7 per cent subscription. The initial share sale of DAM Capital Advisors Ltd got fully subscribed hours after opening for bidding on Thursday. DAM Capital Advisors on Wednesday said it has raised Rs 251 crore from anchor investors. The initial share sale, with a price band of Rs 269-283 per share, will conclude on December 23. The IPO is solely an offer for sale (OFS) of 2.97 crore equity shares worth Rs 840.25 crore, by a promoter and investors at the upper end of the price band. Those selling shares in the OFS are promoter Dharm
Open to joint venture or inorganic acquisition of mutual fund unit
The QIP will lead to dilution of 6.1 per cent of pre-issue outstanding equity capital