WFPML signs MOU to acquire 100% of Wealth First Advisors in two phases
WEALTH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
WFPML signed an MOU to fully acquire Wealth First Advisors Pvt Ltd, which is in wealth management and mutual fund distribution. Phase I is 51% for Rs 52.10 Crore (Rs 40 Cr cash plus Rs 12.10 Cr share swap). Phase II is the remaining 49% via share swap at future valuation. Target belongs to promoter group, making this a related party deal done at arm's length basis using an independent valuation. Aims to expand assets, distribution footprint and market position.
Share swap in Phase II may dilute existing shareholders; expansion could support long-term growth. Related party tag means shareholder approval will be needed.