Wealth First Portfolio Managers Limited has informed the Exchange about Acquisition
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Wealth First Portfolio Managers Limited has incorporated a wholly-owned subsidiary named Lakshya Asset Management Private Limited on 11th June 2025, registered in Gujarat with CIN U66301GJ2025PTC164007. The subsidiary has an authorized and paid-up share capital of Rs. 1 crore (10 lakh equity shares of Rs. 10 each), fully subscribed by Wealth First at face value in cash. Lakshya Asset Management will operate as an Asset Management Company under SEBI (Mutual Funds) Regulations, 1996, and is yet to commence business operations. This is in continuation of an earlier communication dated 12th May 2025, and the investment qualifies as a related party transaction conducted at arm's length.
This strategic move expands Wealth First's footprint into the mutual fund/asset management business through a 100% owned subsidiary. For shareholders, this signals diversification beyond portfolio management services, but the subsidiary is newly incorporated with no operations yet, so any financial impact is expected to be long-term rather than immediate.