IIFL Wealth Management has executed Share Purchase and Shareholders’ agreement (SPSHA) with MAVM Angels Network (MANPL) and its shareholders to acquire 91% of the paid up equity share capital of MANPL on fully diluted basis. The purchase consideration shall be equal to 91% of the enterprise value of MANPL (being Rs 42 crore plus any cash and cash equivalents on the balance sheet of MANPL on closing date).
IIFL Wealth Management engages in the retail of financial products and services in India.