Announced Wed, 28 Oct, 2026 · 20:01 IST
Emkay approves transfer of wealth management business to subsidiary
EMKAY · price
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Price reaction
Awaiting price reaction for this filing.
AI summary
Emkay's board approved moving its Wealth Management Business, including distribution and referral activities, to Emkay Wealth Advisory for Rs 2.75 crore. It generated Rs 24.24 crore revenue in FY2026, 6.12% of consolidated income. The company will also transfer 100% stakes in two subsidiaries to new wholly owned ECPL and invest up to Rs 30 crore in it. Completion is planned within 90 days, subject to approvals.
Likely market impact
Internal restructuring with no change in Emkay's ownership. It may sharpen focus, but wealth operations move to a step-down subsidiary.