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360 ONE WAM LIMITED — Capital/Financing Update 2021
Oct 29, 2021
61416_rns_2021-10-29_7fed3a7d-d90e-4074-b6d8-9bdf81ee4b9f.pdf
Capital/Financing Update
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October 28, 2021
The Manager, The Manager, Listing Department, Listing Department, BSE Limited, The National Stock Exchange of India Ltd., Phiroze Jeejeebhoy Tower, Exchange Plaza, 5 Floor, Plot C/1, G Block, Dalal Street, Bandra - Kurla Complex, Bandra (E), Mumbai 400 001. Mumbai 400 051. BSE Scrip Code: 542772 NSE Symbol: IIFLWAM
Dear Sir/Madam,
Subject : Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that Accounting and Corporate Regulatory Authority, Singapore, on October 27, 2021, has confirmed the amalgamation of the following international subsidiaries of IIFL Wealth Management Limited (“Company”) (i) IIFL (ASIA) PTE. LTD., Singapore (ii) IIFL CAPITAL PTE. LTD., Singapore and (iii) IIFL SECURITIES PTE. LTD., Singapore to become IIFL CAPITAL PTE. LTD., Singapore.
By virtue of this amalgamation both IIFL (ASIA) PTE. LTD. and IIFL SECURITIES PTE. LTD. cease to be international subsidiaries of the Company with effect from October 27, 2021.
The details of the aforesaid amalgamation pursuant to SEBI Circular CIR/CFD/CMD/4/2015 dated September 9, 2015, are as under:
| 1 | Name of the entity(ies) forming part of the amalgamation/merger, details in brief such as, size, turnover etc. |
Asset size and turnover details as on September 30, 2021 1. IIFL (ASIA) PTE. LTD. Asset size : Rs. 34,72,41,163 Turnover : Nil 2. IIFL SECURITIES PTE. LTD. Asset size: Rs. 6,09,82,479 Turnover : Rs. 38,77,660 3. IIFL CAPITAL PTE. LTD. Asset size: Rs. 120,82,76,443 Turnover : Rs. 18,22,92,877 |
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IIFL WEALTH MANAGEMENT LIMITED
Corporate & Registered Office: IIFL Centre, Kamala City, Senapati Bapat Marg, Lower Parel, Mumbai – 400 013 TEL: (91-22) 4876 5600 | FAX: (91-22) 4875 5606
www.iiflwealth.com
CIN: L74140MH2008PLC177884
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| 2 | Whether the transaction would fall within related party transactions? If yes, whether the same is done at “arms length” |
The Company is not a party to the aforesaid amalgamation and all 3 entities which are party to the aforesaid amalgamation i.e. (i) IIFL (ASIA) PTE. LTD. (ii) IIFL CAPITAL PTE. LTD. and (iii) IIFL SECURITIES PTE. LTD. were direct / indirect wholly owned subsidiaries of the Company. |
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| 3 | area of business of the entity(ies) |
Prior to amalgamation: 1. IIFL CAPITAL PTE. LTD. was into the business of fund management, 2. IIFL SECURITIES PTE. LTD. was (i) performing regulated activity of dealing in capital markets products, and (ii) an Exempt Financial Adviser for the regulated activity of advising on investment products and 3. IIFL (ASIA) PTE. LTD. was an investment holding company holding shares of IIFL CAPITAL PTE. LTD. and IIFL SECURITIES PTE. LTD. Post-amalgamation, IIFL CAPITAL PTE. LTD. will perform both the license activities of IIFL SECURITIES PTE. LTD. and IIFL CAPITAL PTE. LTD. |
| 4 | rationale for amalgamation/ merger |
1. Economy of scale and focused approach through a single entity, and 2. Integration of various activities including finance, operations and compliance. Further, IIFL (ASIA) PTE. LTD. was only investment holding entity and was not into any business activity and hence amalgamation into IIFL CAPITAL PTE. LTD. will reduce operational cost of maintaining the entity(ies). |
| 5 | in case of cash consideration – amount or otherwise share exchange ratio |
Nil – Cash Consideration. All shares of IIFL SECURITIES PTE. LTD. and IIFL CAPITAL PTE. LTD. to the extent held by IIFL (ASIA) PTE. LTD. are cancelled as zero. In lieu of 14,000,000 ordinary shares of IIFL (ASIA) PTE. LTD. held by the Company, IIFL CAPITAL PTE. LTD. will issue 5,300,000 of its ordinary shares to the Company as purchase consideration for the amalgamation. |
IIFL WEALTH MANAGEMENT LIMITED
Corporate & Registered Office: IIFL Centre, Kamala City, Senapati Bapat Marg, Lower Parel, Mumbai – 400 013 TEL: (91-22) 4876 5600 | FAX: (91-22) 4875 5606
www.iiflwealth.com
CIN: L74140MH2008PLC177884
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Pre-amalgamation, the Company was holding 12,982,083 ordinary shares in IIFL CAPITAL PTE. LTD. upon issue of 5,300,000 ordinary shares by IIFL CAPITAL PTE. LTD. to the Company as aforesaid, postamalgamation, the Company will hold 18,282,083 ordinary shares in IIFL CAPITAL PTE. LTD. 6 brief details of change in Not Applicable shareholding pattern (if any) of listed entity.
Kindly take the same on record and oblige.
Thanking you, Yours Truly,
For IIFL Wealth Management Limited
Rohit Digitally signed by Rohit Shriniwas Shriniwas Bhase Bhase Date: 2021.10.29 14:01:39 +05'30' Rohit Bhase Company Secretary (ACS: 21409)
Email: [email protected]
IIFL WEALTH MANAGEMENT LIMITED
Corporate & Registered Office: IIFL Centre, Kamala City, Senapati Bapat Marg, Lower Parel, Mumbai – 400 013 TEL: (91-22) 4876 5600 | FAX: (91-22) 4875 5606
www.iiflwealth.com
CIN: L74140MH2008PLC177884