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IIFL WM to raise US$110 million in shares to fund expansion

IIFL Wealth Management will look to raise US$110 million through the sale of equity shares to six investors in a bid to “expand its wealth management platform”. Together, the six investors proposed to purchase a total of 4.49 million equity shares in IIFL Wealth Management, representing a 5.1% stake in IIFL Holdings Limited’s wealth management subsidiary. Existing private equity backer, General Atlantic,…

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