360 ONE WAM Ltd

IIFL Wealth Management Ltd (IIFLW) was incorporated as a Public Limited Company on 17 January, 2008. The Company is a Holding Company to its subsidiaries engaged in wealth and Asset Management Service ... s including financial asset distribution, broking, lending, credit and investment solutions and asset and portfolio management. It mainly provides transaction structuring and advisory services relating to financial products to its clients. In year 2009, IIFL Inc set up international offices including Dubai, Singapore and Mauritius as a global foorprint. In 2011, IIFL Wealth Management acquired Finest Wealth Managers' in Pune adding nearly Rs 1700 crores to AUM. In 2012, the company's wealth management reached Rs 25000 crores AUM. In 2013, it acquired an Asset Management and a Private Equity Firm; launch of only success fee-based Alternative Investment Fund. In 2014, the company took lead in an Alternative Investment Fund space and is presently the No.1 Manager of Alternatives in India. In 2015, General Atlantic picked up 21.61% stake in IIFL Wealth & Asset Management, thru which the investment endorsed its quality of team and business. In year 2016, the company acquired an NBFC, infusing Rs 900 crore as capital, and renamed it IIFL Wealth Finance Ltd. In year 2017, IIFL Asset Management's Special Opportunities Fund, the first-of-its-kind pre-IPO fund in India, raised over Rs 7500 crores. In the year of 2018, Chennai- based Wealth Advisors India and Bangalore-based Altiore Advisors were acquired by the Company. In 2019, IIFL Wealth made a stake to its five renowned marquee investors. The Board of Directors of the Company at its meeting held on January 31, 2018, had approved a Composite Scheme of Arrangement amongst the Company, IIFL Finance Limited, India Infoline Finance Limited, India Infoline Media and Research Services Limited, IIFL Distribution Services Limited and their respective shareholders, under Sections 230 - 232 and other applicable provisions of Companies Act, 2013. The Scheme was then filed with the Hon'ble NCLT directed the Company to hold a meeting of its equity shareholders on December 12, 2018. The Hon'ble NCLT vide its order passed on March 07, 2019 sanctioned the Composite Scheme of Arrangement and the Company received Order on March 15, 2019. As a result of scheme, Wealth Business undertaking was demerged as a separate listed entity. As a consideration to shareholders of IIFL Finance Limited, 1 fully paid up share of Rs 2/- ach was issued to the shareholders of IIFL Finance Limited, for every 7 shares of the Company held by them, as on June 6,2019. Further, fractional entitlement, if any, was paid to the shareholders, by selling fractional shares in market, as per SEBI guidelines. Accordingly, 4,56,04,924 equity shares of Rs 2/- each of t he Company were issued and allotted in aggregate to Shareholders of the Company. The appointed date for scheme was November 22, 2018, which came to effect from 13 May 2019. In year of 2020, the Company acquired L&T Capital Markets, a wholly owned subsidiary of L&T Finance Holdings.Its consolidated AUM including custody assets stood at Rs 1,60,034 crores as of 31st March 2020 . During the period 2020, the Company allotted 26,59,718 equity shares in aggregate, pursuant to Scheme of Arrangement and exercise of stock options by eligible employees under the IIFL Wealth Employee Stock Option Schemes. Accordingly, total paid-up share capital of Company was increased to Rs 17,43,62,084 divided into 8,71,81,042 equity shares of Rs 2/- each. During the year 2020-21, IIFL Wealth Prime Limited (formerly known as IIFL Wealth Finance Limited) a wholly-owned subsidiary Company, had acquired IIFL Wealth Capital Markets Limited (formerly known as L&T Capital Markets Limited) on April 24, 2020. Total Assets under management including custody assets stood at Rs. 2,46,083 Crs as on Mar'21. Read More