Announced Wed, 28 Oct, 2026 · 19:53 IST
Board approves moving Wealth Management business to new wholly owned subsidiary
EMKAY · price
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Price reaction
Awaiting price reaction for this filing.
AI summary
Emkay's board approved moving its 100% holdings in Emkay Investment Managers and Emkay Wealth Advisory to new wholly owned subsidiary ECPL for cash of Rs 21.38 crore and Rs 2.05 crore. It also approved a slump sale of the Wealth Management business, which generated Rs 24.24 crore of revenue in FY26, to EWAL for Rs 2.75 crore. Emkay will invest up to Rs 30 crore in ECPL through a rights issue, with no change in its own shareholding.
Likely market impact
Internal reorganisation with no change in listed company ownership. It may sharpen business focus, but the group keeps the transferred assets.