IIFL Capital Receives SEBI Nod for Setting up Subsidiary at GIFT IFSC

PRNewswire
Mumbai (Maharashtra) [India], February 9: IIFL Capital Services Limited, one of India's leading wealth management, broking and investment banking firms, today announced that it has received a No Objection from the Securities and Exchange Board of India (SEBI) to establish a Wholly Owned Subsidiary (WOS) at Gujarat International Finance Tec-City - International Financial Services Centre (GIFT IFSC).
The proposed entity -- IIFL Capital Services (IFSC) Limited / IIFL Capital (IFSC) Limited -- will operate as a separate legal entity and undertake permitted financial services and capital market activities in GIFT IFSC, subject to approvals from relevant regulators including the Reserve Bank of India and other authorities as applicable.
This approval marks an important step in expanding IIFL's global financial services platform and strengthening its presence in international markets through India's premier offshore financial hub. IIFL Capital is one of the largest wealth management, broking and investment banking firms in India with about $28 billion of assets under management and custody. IIFL Capital is also a leader in investment banking in India and institutional equities with sales teams based in Mumbai, Singapore, London and New York. The institutional business has wide customer base covering investors including sovereign wealth funds, pension funds, private equity funds, international and domestic mutual funds, insurance companies, hedge funds, and alternative investment funds.
Commenting on the development, Mr. R. Venkataraman, Managing Director, IIFL Capital Services Limited, said, "GIFT IFSC is emerging as India's bridge to global capital. This approval enables us to build a dedicated international platform through which global investors can efficiently access Indian opportunities and Indian issuers can engage international pools of capital within a robust and transparent regulatory framework. We see significant long-term potential in facilitating cross-border capital flows and expanding our institutional and investment banking offerings from this jurisdiction."
The IFSC subsidiary will focus on serving global investors, facilitating cross-border investment flows, and enhancing access to international financial products, while maintaining strict regulatory separation and governance standards in line with SEBI guidelines.
The company will now proceed with obtaining remaining regulatory approvals and operational clearances before commencing business operations.
About IIFL Capital Services Limited
IIFL Capital Services Limited is a leading financial services platform providing investment banking, institutional equities, wealth management and capital market solutions to domestic and international clients. The company is part of the IIFL Group, a diversified financial services institution serving retail and institutional customers across lending, housing finance, capital markets and wealth management.
Media Contact:
Sourav Mishra
Head of Communications
IIFL Group
sourav.mishra@iifl.com
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