Wealth First Portfolio Managers Limited has informed the Exchange about General Updates
WEALTH · price
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On the reaction day the stock moved 0.5 pts less than Nifty Microcap 250 and 1.0 pts more than its Other Financial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Wealth First Portfolio Managers Limited (WEALTH) has approved the incorporation of a new wholly-owned subsidiary called Lakshya Trustee Private Limited. This move follows SEBI's in-principle approval received on 7th May 2025 for sponsoring and setting up a mutual fund. The new subsidiary will act as a Trustee/Nominee for funds managed by the proposed Asset Management Company. It will have an authorized and paid-up share capital of up to Rs. 10 lakh (1 lakh equity shares of Rs. 10 each), fully subscribed by Wealth First in cash at face value. The transaction is classified as a related party transaction but will be conducted at arm's length. Completion is targeted on or before 31st March 2027.
This is a strategic step to expand into the mutual fund business, subject to shareholder approval if required. While the capital commitment is small (Rs. 10 lakh), it positions the company for a new revenue vertical. Short-term stock impact is likely neutral; long-term impact depends on successful AMC operations and regulatory approvals.