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IIFL WM buys an “excellent business” to boost South India presence

IIFL Wealth Management (WM), a subsidiary of IIFL Holdings, has announced its acquisition of Chennai-based Wealth Advisors India Private Limited, confirming Asian Private Banker’s prior coverage of the pre-deal discussions. IIFL WM will, subject to regulatory approvals, acquire the entire share capital and company of Wealth Advisors for a total consideration of Rs 235 crore (~US$32 million) — plus cash…

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