Emkay Global Divests Subsidiaries to New Wholly Owned Subsidiary

Emkay Global Financial Services Ltd announced board approval for significant restructuring. The company will divest its 100% equity investments in Emkay Investment Managers Limited (EIML) and Emkay Wealth Advisory Limited (EWAL) to its newly incorporated wholly owned subsidiary, Emkay Capital Private Limited (ECPL). This transaction, valued at ₹21.375 Crores for EIML, will make EIML and EWAL step-down wholly owned subsidiaries of Emkay Global. Additionally, the company will transfer its Wealth Management Business to EWAL via a slump sale. Emkay Global also approved an investment of up to ₹30 Crores in ECPL through a rights issue.