Wealth First Portfolio Managers to acquire 100% of Wealth First Advisors

Wealth First Portfolio Managers Limited (WFPML) has entered into a Memorandum of Understanding (MOU) to acquire 100% of Wealth First Advisors Private Limited, a wealth management and financial product distribution firm. The acquisition will be completed in two phases. Phase I involves acquiring 51% stake for ₹52.10 Crore, comprising ₹40 Crore cash and ₹12.10 Crore via share swap. Phase II will acquire the remaining 49% stake, with consideration determined later and paid through share swap. This strategic move aims to expand WFPML's assets, distribution footprint, and market position through inorganic growth in Mumbai's wealth management market. The company will gain management and governance control upon completion of Phase I.