L&T Finance Ltd.

L&T Finance Holdings (LTFH) is reportedly in advanced talks with Morgan Stanley, in order to buy company’s wealth management business in India. With this initiative L&T Finance aims to strengthen its presence in the country’s nascent wealth management industry. The assets, which LTFL will buy, could be in the range of Rs 2,000 to Rs 3,000 crore. 

Morgan Stanley, which employs about 400 people across businesses including capital markets, equity and fixed-income sales and trading, research, asset management and private-wealth management, had set up the wealth management unit about five years ago.