Listed wealth management firm Wealth First Portfolio Managers Ltd has approved the acquisition of a controlling stake in Mumbai-based Wealth First Advisors Pvt Ltd (WFAPL).
The two-stage transaction values the target at ₹102 crore, with the acquirer planning to secure 51% ownership by 2026 and full control by 2030 via a combination of share swaps and cash payments.
The deal underscores the accelerating consolidation in India’s wealth management sector, as listed entities seek to scale assets under management (AUM) through inorganic growth.
Wealth First Portfolio Managers aims to reach ₹20,000 crore in AUM following the integration, leveraging the Mumbai-based firm’s client base and distribution network to complement its existing Ahmedabad operations.
This move aligns with broader trends in the Indian financial services industry, where larger players are actively pursuing acquisitions to expand their footprint in alternative assets and financial market infrastructure.
Similar to Kotak Mahindra Bank’s recent strategy of acquiring loan portfolios to diversify its asset base, Wealth First is betting on M&A to drive top-line growth in a competitive market.