IIFL Wealth Group To Acquire L&T Finance Holdings’ Wealth Management Business
Indian two thousand and five hundred rupee banknotes are arranged for a photograph in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

IIFL Wealth Group To Acquire L&T Finance Holdings’ Wealth Management Business

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IIFL Wealth Group on Wednesday said it has entered into a definitive agreement to acquire L&T Capital Markets, a wholly-owned subsidiary of L&T Finance Holdings Ltd..

L&T Capital Markets provides wealth management services for individual and institutional clients.

The transaction is subject to regulatory approvals, a joint statement said without disclosing the size of the deal.

IIFL Wealth offers a portfolio of comprehensive products and services across asset classes, together with a dedicated set of research professionals and senior private bankers, the statement said.

The move is expected to further strengthen IIFL Wealth's platform for serving high net-worth and ultra-high-worth families, it added.

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