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General Atlantic Singapore Fund acquires stake in wealth management unit
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IIFL Holdings Ltd.said April 6 that General Atlantic Singapore Fund Pte. Ltd. completed its of 21.61% equity sharesin unit IIFL Wealth Management Ltd. on a fully diluted basis.
As part of the transaction, IIFL Wealth Management employeestransferred up to 795,519 equity shares in the company to General Atlantic at aprice of 586.70 Indian rupees per share, for a total consideration of up to 466.7million rupees.
As of April 7, US$1 wasequivalent to 66.66 Indian rupees.