Anand Rathi Wealth Ltd's subsidiary receives in-principle approval from IFSCA

ANAND RATHI FME (IFSC) PRIVATE LIMITED, a wholly owned subsidiary of ANAND RATHI WEALTH LIMITED ("Company"), has received an In-principle approval from the International Financial Services Centres Authority ("IFSCA") for registration as a Fund Management Entity (Non-retail) at the International Financial Services Centre ("IFSC"), GIFT City, Gujarat.

Pursuant to the aforesaid approval, ANAND RATHI FME (IFSC) PRIVATE LIMITED shall undertake the necessary steps, including fulfilment of applicable regulatory, operational and capital requirements, as prescribed by IFSCA, for obtaining the final certificate of registration and commencement of its business activities in due course of time.

The commencement of operations shall be subject to receipt of the final registration from IFSCA and compliance with all applicable laws, regulations and conditions stipulated by the regulatory authority.

Shares of Anand Rathi Wealth Ltd was last trading in BSE at Rs. 2079.05 as compared to the previous close of Rs. 2081.25. The total number of shares traded during the day was 7917 in over 639 trades.

The stock hit an intraday high of Rs. 2107.10 and intraday low of 2052.30. The net turnover during the day was Rs. 16435712.00.

Source : Equity Bulls

Keywords

AnandRathiWealth INE463V01026 WealthManagement Brokerage IFSCA Approval Subsidiary