Iifl Amc
IIFL Wealth & Asset Management Q2 PAT rise 23% to Rs 173 cr; revenue up 12%
IIFL Wealth & Asset Management on Wednesday reported a 23 per cent growth in profit after tax (PAT) to Rs 173 crore for three months ended September 2022. The company had posted a PAT of Rs 140 crore in the same quarter of the last fiscal, IIFL Wealth & Asset Management said in a statement. The company's total revenue rose 12 per cent to Rs 405 crore in the second quarter of 2022-23, from Rs 362 crore in the same quarter of preceding fiscal. The company's board declared the third interim dividend of Rs 17 per share. "In the near term, we are cognizant of the global volatility which can provide both challenges as well as opportunities. We continue to look out for exciting new products and opportunity areas, while remaining relatively cautious in our approach," the company's MD and CEO Karan Bhagat said. He, further, said that people and technology remain the company's key investment themes. It would continue to add new talent and deep expertise to the organization.
 "IIFL Wealth & Asset Management Q2 PAT rise 23% to Rs 173 cr; revenue up 12%")
Breach of cross-holding norms: Fairfax seeks consent settlement with Sebi
Canadian billionaire Prem Watsa's firm holds over 10% stake in two AMCs
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SaaS company CleverTap Raises $105 mn in funding round led by CDPQ
It runs a cloud service that helps digital brands to increase customer retention
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Dialysis network NephroPlus raises $24 mn to expand in India, abroad
Series E round was round led by IIFL Asset Management, with support from existing investors InvestCorp and Bessemer Venture Partners
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Exotel raises $35 mn to expand its cloud customer engagement platform
The customer engagement company is looking to hit an annual recurring revenue of $200 mn over next 5 years and plans to increase its headcount by 200 over next 12 months
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AIFs may gain at the expense of MFs with market poised for shift in favour
Unlike MFs, Category-I and II AIFs have a closed-ended structure and are not exposed to the risk of sudden redemptions
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IIFL AMC to raise $200 mn for second PE fund, investors may participate
Fund will target companies started by professionals with proven track record
 "IIFL AMC to raise $200 mn for second PE fund, investors may participate")
