Wealth First Invests ₹1 Cr in Wholly-Owned Subsidiary Lakshya Trustee

Wealth First Portfolio Managers Ltd has invested ₹1 Crore in its wholly-owned subsidiary, Lakshya Trustee Private Limited. The investment was made through the subscription of 10,00,000 Non-Convertible Non-Cumulative Redeemable Preference Shares at ₹10 each via a Rights Issue. This transaction ensures Lakshya Trustee Private Limited remains a wholly-owned subsidiary with no change in Wealth First's shareholding, control, or ownership. The funds are intended for administrative, general business, and operational requirements of Lakshya Trustee, which acts as a Trustee for Asset Management Company funds. The acquisition was completed at an arm's length basis and has received necessary board and audit committee approvals.