IIFL Wealth Management Ltd updates on scheme of arrangement

Further to effecting of demerger of Broking, DP and distribution business from IIFL Wealth Management Limited (IIFLW) to wholly owned subsidiary IIFL Wealth Distribution Services Limited (IIFLWDSL) pursuant to the composite scheme of arrangement as approved by NCLT vide order dated March 7, 2019.

After all the final regulatory approvals and enablements of SEBI, Exchanges and Depositories etc., the migration of the entire Broking, DP, Distribution activities, operations, system and process are successfully implemented from IIFLW to IIFLWDSL from May 3, 2021. Accordingly, the Broking, DP and distribution activities of IIFLW are being conducted under IIFLWDSL from today.

Source : Equity Bulls

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