Scripbox, the Bengaluru-based wealth management company, has taken over the mutual fund distribution business of Bluechip Capital, an independent wealth management firm in Delhi-NCR set up by Ravi Kohli more than 30 years ago.
Financial terms of the deal remain undisclosed.
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A part of the deal, Bluechip Capital’s clients and staff will move to Scripbox.
Ravi Kohli said: “Selecting the right partner was critical for ensuring clients continue to receive high-quality financial guidance, when you spend years building relationships with families who trust you with their financial well-being, choosing the right partner becomes extremely important.
“In Scripbox, we found a partner that shares our values and commitment towards clients while bringing the institutional capabilities needed to serve them even better in the years ahead.”
The deal fits Scripbox’s approach of working with founder-led wealth management firms in India that are looking for continuity and institutional backing.
After the integration, Bluechip Capital’s clients will be able to use Scripbox’s research, digital wealth platform and asset allocation services.
Scripbox CEO Atul Shinghal commented: “Our purpose is to empower a million Indians to achieve financial freedom. India’s independent wealth management business founders have spent decades building trust with their clients, and many may now be thinking about succession and continuity.
“We want to be the most trusted partner for that transition. When we find firms who share our commitment to putting clients first, it creates the foundation for something meaningful. Bluechip Capital is exactly that kind of firm.”
Scripbox Wealth Managers has operated since 2003 and offers investment services spanning mutual funds, Indian and international equities, insurance, portfolio construction and financial advisory.
