Khaitan & Co. advised IIFL Wealth Management Group in relation to acquisition of wealth management business of L&T Group by acquiring 100% equity shares of L&T Capital Markets Limited, a wholly owned subsidiary of L&T Finance Holdings Limited for a total consideration of INR 230 Crores (plus cash and cash equivalents). The transaction is subject to regulatory & other approvals.

IIFL Wealth & Asset Management is one of the pioneers in the industry to bring about product innovations. The company won ‘The Best Family Office Services, India’ and ‘The Best Succession Planning Advice and Trust, India’ awards at Euromoney Private Banking and Wealth Management Survey, 2018 besides more than 80 other awards of repute since its inception in 2008. Headquartered in Mumbai, IIFL Wealth & Asset Management has wide geographical footprint across 33 locations in 7 major global financial hubs and 26 locations including India and around the world. L&T Capital Markets has established itself amongst the leading non-bank wealth management companies in India. LTCM is headquartered in Mumbai and caters to HNI and UHNI clients. LTCM has presence across 9 locations in India and has key management team with average of ~17 years of core industry experience.

Core Transaction Team includes Surbhi Kejriwal, Partner; Varun Narayan, Senior Associate.

Due Diligence Team includes Ayush Nanda, Senior Associate; Pranav Sethi, Associate; Priyanka Venkatasubramanian, Associate.

Total consideration for the dead is INR 230 crores (plus cash and cash equivalent)