IIFL Wealth Management Lists at Rs 1,200 on BSE

MUMBAI, Sept 19: IIFL Wealth Management, the demerged entity of IIFL Holding, made its debut on both bourses on Thursday. The stock listed at Rs 1,200 per share on BSE and 1,210 per share on NSE.
Post listing, IIFL Wealth shares hit an upper circuit of 5 percent to trade at Rs 12600.00 on BSE and Rs 1,270.50 on NSE,
IIFL Holding has diversified its business into three categories, one of which is IIFL Wealth.
IIFL Wealth manages alternative investment funds (AIFs).
The company’s total assets under management are worth Rs 1.4 lakh crore excluding the custody assets. The topline stands at about Rs 10,600 crore with a profit of around Rs 375 crore.