Wealth First to Acquire 51% Stake in Wealth First Advisors for ₹52.10 Cr
Wealth First Portfolio Managers Limited will acquire 51% stake in Wealth First Advisors Private Limited for ₹52.10 Crore via SPA. The company will issue 1,36,575 equity shares worth ₹12.10 Crore on preferential basis. An EGM is scheduled for November 21, 2026, to approve the preferential issue.
The acquisition of a significant stake (51%) and the associated preferential issue are material events that are likely to have a substantial impact on the company's financial structure and future operations.
The company is acquiring a majority stake in another entity and undertaking a preferential allotment, indicating strategic growth and expansion.
Wealth First Portfolio Managers Limited has announced the execution of a Share Purchase Agreement (SPA) to acquire up to 2,09,304 equity shares, constituting 51.00% of the total outstanding equity share capital of Wealth First Advisors Private Limited (the target entity). The total consideration for this acquisition is approximately ₹52.10 Crore, to be paid partly in cash and partly through a share swap.
In connection with this acquisition, the Board has also approved the issuance and allotment of up to 1,36,575 equity shares of face value ₹10 each, at an issue price of ₹885.89 per share, aggregating up to ₹12.10 Crore. These shares will be issued on a preferential basis for consideration other than cash, to Mr. Ashish Navnitlal Shah (Promoter), Mr. Nimesh Narendra Kenia (Non-Promoter), and Mr. Rakesh Pravinchandra Mehta (Non-Promoter), who are selling shareholders of the target company. This preferential allotment is subject to shareholder approval via a Special Resolution in an Extra-Ordinary General Meeting (EGM) and other necessary approvals.
The company has set Thursday, 22nd October, 2026, as the relevant date for the issue of equity shares, 30 days prior to the EGM. The 1st Extra-Ordinary General Meeting (EGM) for the financial year 2026-27 is scheduled to be held on Saturday, 21st November, 2026, at 02:00 P.M IST through Video Conferencing. CS Kunal Sharma has been appointed as the Scrutinizer for the e-voting process. The board meeting commenced at 11:00 A.M and concluded at 11:55 A.M.
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Wealth First Portfolio Managers Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Wealth First Portfolio Managers Limited. Read the original for the full detail.