IIFL Wealth Management Limited entered into a share purchase agreement to acquire Wealth Advisors (India) Pvt. Ltd. for INR 2.4 billion on October 16, 2018. The cash adjustment equivalent to INR 185.9 million will me made on closing. The transaction is subject to prior approval from Securities and Exchange Board of India. Upon completion, Wealth Advisors (India) Pvt. Ltd. will become a wholly owned subsidiary of IIFL Wealth Management Limited. For the year ended March 31, 2018, Wealth Advisors (India) Pvt. Ltd. reported revenue of INR 301.5 million. The employees of Wealth Advisors (India) Pvt. Ltd. will become a part of IIFL Wealth Management Limited. The transaction is expected to be completed before February 13, 2019. Equirus Capital Private Limited acted as financial advisor for Wealth Advisors (India) Pvt. Ltd.