Bc Asia Investments X Limited completed the acquisition of IIFL Wealth Management Limited from General Atlantic Singapore Fund Pte. Ltd managed by General Atlantic Service Company, L.P. and FIH Mauritius Investments Ltd
November 21, 2022
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Bc Asia Investments X Limited entered into an Share purchase agreement to acquire IIFL Wealth Management Limited (NSEI:IIFLWAM) from General Atlantic Singapore Fund Pte. Ltd managed by General Atlantic Service Company, L.P. and FIH Mauritius Investments Ltd. for INR 36.8 billion on March 30, 2022. Bain Capital will acquire 22.1 million equity shares of IIFL Wealth Management, for INR 1,661 per share. The transaction is subject to regulatory and other customary approvals. On June 14, 2022, Competition Commission of India (CCI) on Tuesday approved the acquisition of the stake in IIFL Wealth Management (IIFLWM) by BC Asia Investments X LtdOn September 30, 2022, IIFL conduct a board meeting where it approved the execution of an agreement between Karan Bhagat, Yatin Shah, General Atlantic Singapore Fund Pte. Ltd. (“Investor”), Nirmal Jain and Venkataraman Rajamani (“Termination Agreement”) for the termination of the shareholders' agreement (“Shareholders' Agreement”) vis-à-vis the Investor. The Termination Agreement shall be effective from the completion of the purchase of an aggregate of 22,155,000 shares by Bain capital.
J.P. Morgan India Private Limited acted as financial advisor to General Atlantic Service Company, L.P. and FIH Mauritius Investments Ltd. Axis Capital Limited acted as financial advisor to Bain Capital, LP. NovaDhruva Capital Pvt. Ltd. acted as financial advisor to Bain Capital, LP. Srishti Goyal, Soumitra Nikhra, Anil Kasturi, Nandita Govind, Ankit Tandon, Rushabh Maniar, Ram Poornachandran, Nohid Nooreyezda, Aman Gera and Akhilesh Rai of AZB & Partners acted as a legal counsels and due diligence provider to Bain Capital, LP. Srinivas Kaushik, Pierre Arsenault, Maurice Conway, Abhishek Kolay, Raymond Wong, Kartik Khanna and Joshua Payne of Kirkland & Ellis LLP acted legal advisors to Bain Capital, LP. Darshika Kothari, Divya Mundra and Raghav Shah of AZB & Partners acted as legal advisor of FIH Mauritius Investments Ltd.
Bc Asia Investments X Limited completed the acquisition of IIFL Wealth Management Limited (NSEI:IIFLWAM) from General Atlantic Singapore Fund Pte. Ltd managed by General Atlantic Service Company, L.P. and FIH Mauritius Investments Ltd on November 22, 2022. As a result of the closing of the transaction,Fairfax India's share ownership in IIFL Wealth will be approximately 3.8% and r gross proceeds of approximately $172 million (approximately INR 14.0 billion).
360 ONE WAM Limited, formerly IIFL Wealth Management Limited, is an India-based company that is primarily engaged in wealth and asset management services, including financial asset distribution, broking, lending, credit and investment solutions, and asset and portfolio management. The Companyâs segments include Wealth Management and Asset Management. The Wealth Management segment comprises distribution of financial products, advisory, equity and debt broking, estate planning and managing financial products essentially in the nature of advisory. The Wealth Management segment also includes lending and investment activities, which are complementary to wealth management activities and provided to or arise from servicing its clients under wealth management. The Asset management segment generally comprises management of pooled funds under various products and structures, such as mutual funds, alternative asset funds, portfolio management and related activities.
Bc Asia Investments X Limited completed the acquisition of IIFL Wealth Management Limited from General Atlantic Singapore Fund Pte. Ltd managed by General Atlantic Service Company, L.P. and FIH Mauritius Investments Ltd
360 ONE WAM LIMITED 
