IIFL Wealth Management acquires Chennai-based Wealth Advisors for $32m

Photo: Pramugdha Mamgain/DealStreetAsia

In a bid to strengthen its presence in the southern parts of India, IIFL Wealth Management Ltd today announced the acquisition of Chennai-based Wealth Advisors India Pvt Ltd.

According to an official statement,  IIFL Wealth will conclude the transaction for a consideration of Rs 235 crore ($32 million) in cash and cash equivalents. The deal is subject to regulatory approvals.

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