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Wealth First Portfolio Managers announced the acquisition of controlling interest in a Mumbai-based firm, Wealth First Advisors (WFAPL), a wealth management and distribution firm, at an equity valuation of Rs 102.15 crore. The acquisition significantly strengthens Wealth First`s presence in India`s largest wealth management market and takes the combined business to nearly Rs 9,000 crore in assets under management. More importantly, it marks a significant milestone in the firm`s evolution from a western India focused practice into a national financial services institution. Anchored in wealth and asset management, Wealth First is steadily building an integrated financial services platform designed to serve clients across their evolving investment and wealth creation needs. Under the agreement, Wealth First will first acquire a 51% stake in WFAPL through a combination of internal accruals and a share swap, upon execution of the requisite transaction documents. The remaining 49% will be acquired at a future date based on WFAPL`s valuation as on 31 March 2029, and is proposed to be settled entirely through a share swap.The acquisition follows Wealth First`s strategic entry into asset management earlier this year through its sponsorship of Lakshya Asset Management. While that initiative strengthened the firm`s manufacturing capabilities, the acquisition of WFAPL expands its advisory and distribution franchise.

Wealth First Portfolio Managers announced that the Board of Directors of the Company at its meeting held on 29 May 2026, inter alia, have recommended the final dividend of Rs 1 per equity Share (i.e. 10%) , subject to the approval of the shareholders.

Net profit of Wealth First Portfolio Managers reported to Rs 10.52 crore in the quarter ended March 2026 as against net loss of Rs 4.29 crore during the previous quarter ended March 2025. Sales reported to Rs 16.51 crore in the quarter ended March 2026 as against Rs -3.26 crore during the previous quarter ended March 2025.For the full year,net profit rose 13.21% to Rs 38.66 crore in the year ended March 2026 as against Rs 34.15 crore during the previous year ended March 2025. Sales rose 28.65% to Rs 68.39 crore in the year ended March 2026 as against Rs 53.16 crore during the previous year ended March 2025. ParticularsQuarter EndedYear EndedMar. 2026Mar. 2025% Var.Mar. 2026Mar. 2025% Var. Sales16.51-3.26 LP 68.3953.16 29 OPM %71.11191.10 -72.2575.58 - PBDT13.88-5.30 LP 52.0746.99 11 PBT13.76-5.41 LP 51.6946.63 11 NP10.52-4.29 LP 38.6634.15 13 Powered by Capital Market - Live News

Wealth First Portfolio Managers will hold a meeting of the Board of Directors of the Company on 29 May 2026.

Wealth First Portfolio Managers announced that its subsidiary, Lakshya Asset Management has received approval and final license dated 25 March 2026 from the Securities and Exchange Board of India (SEBI) to act as the Asset Management Company (AMC) for launching and managing the Mutual Fund.Powered by Capital Market - Live News