Emkay approves transfer of wealth management business within its group
EMKAY · price
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Emkay's board approved transferring 90 lakh EIML shares for Rs 21.375 crore and 41 lakh EWAL shares for Rs 2.05 crore to wholly owned ECPL. It will move its wealth management business to EWAL for Rs 2.75 crore; the business generated Rs 24.2366 crore of revenue, or 6.12% of consolidated income, in FY2026. EIML and EWAL will remain indirectly wholly owned. Emkay will subscribe up to Rs 30 crore to ECPL's rights issue, retaining full ownership. Completion is expected within 90 days, subject to approvals.
This is an internal restructuring with no change in Emkay's ultimate control. It may improve focus, but completion depends on approvals.