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IIFL WM finalises L&T Capital Markets deal

IIFL Wealth Management has completed its 100% equity acquisition of L&T Capital Markets (LTCM), the wholly-owned subsidiary of fellow non-banking financial company L&T Finance Holdings, according to an announcement of 24 April. The deal was finalised for a cash consideration of Rs 230 crore (US$30.3 million) plus the available cash balance of LTCM. “As peers in the business, we’ve had…

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