IIFL WEALTH
Dealmaker DAM Capital Advisors plans public issue
DAM Capital, led by Dharmesh Mehta, targets an IPO within six months, highlighting Mumbai's investment-banking growth. Managed by Nuvama Investment Banking, the IPO includes fresh capital and an offer for sale. DAM Capital, with significant public issues, QIPs, and secondary-market block deals, plans wealth management, PMS, AIF, retail broking to rival ICICI Securities and Motilal Oswal.
Ruchir Sharma joins Asset Allocation Committee of 360 One Wealth
Ruchir Sharma, the chairman of Rockefeller International and Founder & Chief Investment Officer of Breakout Capital, has joined the Asset Allocation Committee (AAC) of 360 ONE Wealth.
IIFL Finance subsidiary raises Rs 216 crore through public bond issue
IIFL Finance's microfinance subsidiary IIFL Samasta Finance has garnered Rs 216 crore through its second public bond issue against a Rs 1,000-crore target despite higher interest rates, as investors were likely concerned over the regulatory scrutiny on IIFL Finance's gold loan business.
360 One acquires ET Money for Rs 366 crore to enter wealth tech space
360 One Wealth and Asset Management acquires wealth tech platform ET Money for Rs 366 crore. The deal involves cash payment to Times Internet and issuing stocks to secure a stake in the wealth management firm. Times Internet, the parent of ET Money, will secure a stake in the wealth management firm and will remain invested in the space, the statement said.
Sanjiv Bhasin's five dark horse picks for medium to long term horizon
Now, whether you buy today at 23,800 and see a 700-800-point correction during the month that is very much on. But at least start to increase your exposure to equity because there may be no big opportunities until the budget.
5Paisa CEO Narayan Gangadhar quits after a year of joining firm
Gangadhar had quit Angel One to join rival broking platform 5Paisa only a year ago. According to sources, Gangadhar's resignation will come into effect on August 28.
Election uncertainty weighs on Awfis Space Solutions' debut: Should you hold or exit?
Awfis Space Solutions, a prominent participant in India's flexible workspace sector, experienced a respectable listing on Thursday, albeit slightly below expectations. The company's shares debuted at Rs 435, marking a gain of over 13% compared to the issue price of Rs 383.
Awfis Space Solutions shares list at 14% premium over issue price
Awfis Space Solutions Share Price: Awfis Space Solutions lists at 14% premium over issue price with strong investor interest and expansion plans. Financial challenges persist despite revenue growth. Book running lead managers include ICICI Securities, Axis Capital, IIFL Securities, and Emkay Global Financial Services.
Awfis Space Solutions GMP: Will there be a decent listing at the bourses today?
Awfis Space Solutions shares are currently trading in the unlisted market at a premium of Rs 125, representing a 27% increase over their issue price. The IPO garnered significant interest, with a subscription rate exceeding 100 times at closing.
IIFL Securities to foray into wealth management
IIFL Securities' market capitalisation stood at ₹6,073 crore on Tuesday. In comparison, wealth management companies such as 360 One WAM, Nuvama Wealth Management, and Anand Rathi Wealth are valued at ₹28,535 crore, ₹17,913 crore, and ₹17,263 crore respectively.
360 ONE founder Karan Bhagat buys luxury apartments in Mumbai’s Worli for Rs 170 crore
Bhagat founded 360 ONE, formerly known as IIFL Wealth & Asset Management, along with his colleagues in 2008. The firm is currently among India's largest asset and wealth management firms with more than $56.3 billion assets under management. Bhagat’s team works with and for around 7,200 top families in India including industrialists; new age technology founders and professionals including leading CEOs, lawyers as well as sportspersons and artistes.
360 ONE Prime to raise Rs 500 crore through NCD, effective yields may go up to 9.8%
360 One Prime on Friday opened its second tranche of fund raising of Rs 500 crore through the issue of non-convertible debentures (NCD) which might effectively yield 9.2% to 9.86% p.a. The issue will be closed on June 6.
India achieves $5 trillion market capitalization milestone, triples in a decade of economic progress
India's market capitalisation crossed $5 tn, tripling in a decade. Domestic ownership increased as foreign institutional ownership fell. GDP is expected to reach $5 tn in 3 years, $7 tn by 2030.
Start deploying cash that you raised; market may start heading up in 1-2 days: Sanjiv Bhasin
Sanjiv Bhasin advocates a shift from capex stocks and autos to defensive sectors like IT, FMCG, and PSUs. He highlights opportunities in IT due to a weaker rupee and US spending rebound, emphasizing specific stock picks. Bhasin says: "It is a good time to start deploying the cash you have raised. By tomorrow, or latest the day after, we should be starting to head up."
We have turned overweight on FMCG and technology; will add on dips: Sanjiv Bhasin
Sanjiv Bhasin discusses China sectors play, Tata Motors, PB Fintech outlook. Mentions L&T, FMCG stocks, Lever target. Talks about Voltas, real estate momentum, Indiabulls Real Estate play.
Nifty scores at 28% in FY24; investor wealth surges Rs 133,00,000 cr
Nifty ended 0.9%, or 203 points, higher to close at 22,326 after jumping as much as 1.8%. The Sensex, which closed 0.90%, or 655 points, higher to close at 73,651, rose up to 1.6% earlier in the day. Both indices came close to hitting record highs. For the fiscal 2023-24, the Nifty was up 28.61% at the close of trade on Thursday. India's total market value surged by ₹133 lakh crore in FY24.
Buy 360 One Wam, target price Rs 850: Motilal Oswal
360 One Wam Ltd. key Products/Revenue Segments include Fees & Commission Income for the year ending 31-Mar-2023.
Want to create a lot of wealth? Look at these 5 PSU gems for next 6 months: Sanjiv Bhasin
Sanjiv Bhasin of IIFL Securities is bullish on Hindustan Copper, HPCL, ONGC, IRCTC, Concor, Century Textiles' foray into real estate, and ITC's future prospects. He advises caution in PSU banks and railway stocks, while emphasizing the potential in the banking sector and the need for quality construction in real estate.
Vedanta can be stock of the year; Bandhan Bank may double in 12-18 months: Sanjiv Bhasin
Sanjiv Bhasin recommends investing in HDFC and M&M for long-term wealth creation. He suggests considering under-owned stocks like ONGC, IOC, Concor, IRCTC, and Nalco. GQG Capital's success with Adani and Vedanta stocks is noteworthy. The mortgage business and Tuticorin copper opening could drive growth. Bhasin also says Bandhan Bank should be in your portfolio and left there for the next two-three quarters. This can be a doubler, in the next one-one and a half year.
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