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IIFL Wealth Management Ltd. is an Indian wealth management firm,[3][4][5] headquartered in Mumbai, India. The company has a presence in 7 countries and 23 locations in India.[6] It offers wealth management, asset management, portfolio management services, investment products, treasury services, estate planning and lending among others. The company has been rated as A1+ by rating agencies such as CRISIL[1] and ICRA.[2]
| Company type | Public company |
|---|---|
| Founded | 2008 |
| Founders |
|
| Headquarters | , |
Area served | Worldwide |
| Revenue | ₹1,535 crore (US$180 million) (FY2022) |
| AUM | ₹2.62 lakh crore (US$31 billion) (FY2022) |
Number of employees | 900 (September 2020) |
| Subsidiaries | See § Subsidiaries |
| Rating | A1+ (CRISIL)[1] A1+ (ICRA)[2] |
| Website | iiflwealth |
As of March 2022[update], IIFL Wealth Management has around ₹2.62 lakh crore (US$31 billion) in assets under management, which excludes custody assets.[7]
IIFL Wealth was founded in 2008. It operated as a subsidiary of IIFL Holdings, a diversified publicly traded financial services company,[8][9] backed by Fairfax Financial,[10] until the demerger of the IIFL Group into three separately listed entities, one of which is IIFL Wealth.[11]
The equity shares of IIFL Wealth Management are listed on the Bombay Stock Exchange and National Stock Exchange of India.[12]
In December 2018, IIFL Wealth Management launched the IIFL Wealth Index 2018 series, in partnership with Wealth-X.[13][14]
In April 2020, IIFL Wealth completed the acquisition of 100% equity shares of L&T Capital Markets (LTCM), a wholly owned subsidiary of L&T Finance Holdings. The acquisition was for a total cash consideration of ₹230 crore plus available cash balance of LTCM.[15][16]
In October 2018, the company acquired a Chennai-based wealth management firm, Wealth Advisors India for ₹235 crore (US$28 million).[6] IIFL Wealth Management acquired Ashburton India Equity Opportunities for an undisclosed amount in December 2017.[17]
IIFL Wealth Management acquired non banking finance company Chephis Capital Markets in February 2016.[18]
The company had bought a majority stake in India Alternatives Investment Advisors Pvt Ltd,[19] a PE advisory firm, in April 2014.[20]
In June 2018, the company raised ₹745.71 crore (US$89 million) from Ward Ferry, General Atlantic and others.[21]
The New York based PE firm, General Atlantic acquired 21.61 per cent stake in IIFL Wealth Management for ₹1,122.34 crore (US$134 million) in October 2015.[22][23]
- IIFL Asset Management Limited
- IIFL Trustee Limited
- IIFL Investment Adviser and Trustee Services Limited
- IIFL Wealth Distribution Services Limited (formerly known as IIFL Distribution Services Limited)
- IIFL Wealth Prime Limited
- IIFL Wealth Securities IFSC Limited
- IIFL Altiore Advisors Ltd.
- IIFL Wealth Portfolio Managers Limited (formerly known as IIFL Portfolio Managers Limited)
- IIFL Wealth Capital Markets Limited (formerly known as L&T Capital Markets Limited)
- IIFLW CSR Foundation
- IIFL Private Wealth Management (Dubai) Limited
- IIFL Inc
- IIFL Private Wealth Hong Kong Ltd
- IIFL Asset Management (Mauritius) Limited
- IIFL (Asia) Pte. Limited
- IIFL Capital Pte. Limited
- IIFL Securities Pte. Limited
- IIFL Capital (Canada) Limited
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