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Bain Capital Acquires 24.9% Stake In IIFL Wealth For ₹3679.95 Cr; Share Price Jumped 6%

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Bain Capital Acquires 24.9% Stake In IIFL Wealth For ₹3679.95 Cr; Share Price Jumped 6%

Indian wealth management firm IIFL Wealth Management on Thursday reported that they have signed a deal with Massachusetts-based American private investment firm Bain Capital which will buy a 24.9% stake in their company for nearly ₹3,679.95 Cr.

The company will buy the stake from IIFL Wealth’s existing private equity investors, General Atlantic, an American growth equity firm, and FIH Mauritius Investments, owned by Fairfax Financial Holdings Limited, a financial holding company.


Also Read: Hariom Pipe Industries IPO Opens Today: Price Band ₹144-153, Know Other Important Details

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Per Share Price Fixed At ₹1,661

According to Economic Times, taking regulatory and other necessary approvals, Bain Capital will acquire 22.15 million shares from General Atlantic Singapore Fund and FIH Mauritius Investments at ₹1,661 per share.

General Atlantic had bought a 21.6% stake in the company in October 2015 by paying ₹1,122 cr.

While Indian-born Prem Watsa Fairfax Financial’s owned FIH Mauritius Investments were the first investors in the company. They bought a 9% stake in the company in 2011.

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What does the company do?

Founded in 2008 by Karan Bhagat and co-founder Yatin Shah, the Mumbai-based wealth management firm has an AUM of over USD 44 billion and 850 employees across 4 major global financial centers and 23 locations in the country.

According to their official website, IIFL Wealth provides HNI and UHNI clients investment management services with the aim to generate steady returns from a diversified portfolio with the lowest possible volatility, along with allied additional services such as trust and estate planning, credit solutions, and corporate advisory.


Also Read: PVR-INOX Share Price Rallies 20% After Merger Announcement

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8% Zoom In Shares After Bain Capital’s Announcement

According to bseindia.com, IIFL Wealth’s share price zoomed about 8% during early trading hours after Bain Capital announced about acquiring a 1/4 stake in the company.

At the time of news writing each share price is ₹1,674.45, which is 5.75% up than the opening price.

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NIFTY scales new heights, expect Sensex to follow this time around

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NIFTY scales new heights, expect Sensex to follow this time around

Last week, the markets remained volatile but continued their upward trend, with NIFTY hitting a new high each trading session. BSESENSEX is close to surpassing its previous high, while NIFTY is expected to set a new high on Monday or Tuesday.

BSESENSEX closed the week gaining 716.16 points, and NIFTY gained 172 points. The broader markets also saw gains across different indices. While markets saw gains on three sessions, they faced losses on two days. The Indian Rupee also saw a slight gain against the US Dollar.

Vibhor Steel Tubes Limited had a remarkable debut on the bourses, listing at a gain of 178.80 percent and closing at a gain of 192.71 percent. Juniper Hotels Limited’s IPO received a lukewarm response despite being subscribed 2.07 times overall. Exicom Tele-Systems Limited is set to launch its IPO, offering power management solutions and EV chargers.

Bharat Highways Invit is set to launch an issue for fixed income investors, with units to be issued in a band of Rs 98-100. The INVIT will have initial assets from G.R. Infraprojects Limited’s HAM model, offering an attractive income yield. February futures are set to expire on February 29 amid a bullish market trend.

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TN CM lays foundation stone for VinFast's Rs 4,000-cr EV factory

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TN CM lays foundation stone for VinFast's Rs 4,000-cr EV factory

Tamil Nadu Chief Minister M.K. Stalin laid the foundation stone for VinFast group’s EV plant in Tuticorin. VinFast Auto India Ltd will invest Rs 4,000 crore in the first phase out of the planned Rs 16,000 crore investment, making Tamil Nadu the country’s EV Capital.

The plant, spread across 380 acres, will have a capacity to roll out 1,50,000 vehicles per annum. Industries Minister T.R.B. Rajaa mentioned that Tamil Nadu is already a hub for electric vehicle production in India.

Stalin distributed compensation for flood victims and criticized the central government for not providing support. Despite roadblocks, the state government has been successful in achieving its objectives and attracting investments for the state.

Since taking office in 2021, Stalin has prioritized garnering investments for Tamil Nadu. The DMK-led government’s focus on the welfare of the people has been evident in its policies and programs.

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Aadhaar, Jan Dhan giving big push to digital India ecosystem: Instamojo's CEO

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Aadhaar, Jan Dhan giving big push to digital India ecosystem:
Instamojo's CEO

New Delhi, Feb 25 (IANS) As the government accelerates its digital journey, Instamojo’s CEO Sampad Swain highlighted the impact of Aadhaar and Jan Dhan Yojana on India’s digital ecosystem. Swain emphasized on the opportunities created in the last few years, including the JAM Trinity, availability of credit, and the role of social media for small business owners.

Instamojo, a D2C tech company, provides online stores and payment solutions for e-commerce brands and startups. Despite facing a setback last year when RBI returned their license application, Swain remains optimistic and stated that they are preparing to reapply by September, with a focus on data security and compliance with regulations.

In FY2023, Instamojo reported significant profits and steady growth in its customer base, currently serving over 3 million small business owners on its platform. Swain expressed confidence in the company’s continued success, projecting a profitable year in 2024.

The CEO highlighted the importance of adapting to regulatory requirements and maintaining a strong customer base in the competitive digital market. Instamojo’s focus on empowering small businesses with online tools and payment solutions has contributed to its growth and success in the evolving digital landscape.

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