M&A

M&A

Wealth First Portfolio Managers to acquire 51% in Wealth First Advisors for Rs.102-Cr

BSE announcement   Business Line   Wealth First Advisors  

Ahmedabad-based Wealth First Portfolio Managers is to acquire a controlling stake in Mumbai-based wealth management and mutual fund distribution firm Wealth First Advisors .The transaction is valued at INR 102.15 crore and will be executed in two phases. Wealth First will acquire a 51% stake by December 31, 2026, for INR 52.10 crore, consisting of INR 40 crore in cash and INR 12.10 crore through a share swap. The remaining 49% stake is slated for acquisition by March 31, 2030, through a share swap.Founded in 2001 by Premal Mehta and Ashish Shah, Wealth First Advisors will become a subsidiary of Wealth First following the initial phase and eventually a wholly owned subsidiary upon completion of the second phase.The transaction is classified as a related-party deal, as the promoter and managing director of Wealth First, Ashish Shah holds a 10.62% beneficial interest in Wealth First Advisors.

For FY25, Wealth First Advisors had reported about INR 16.68 crore in Operating Income and about INR 2.21 crore in PAT.