India Infoline (IIFL) has pumped additional capital of INR340 million (US$5.71 million) into its asset management subsidiary, India Infoline Asset Management Company (IIFL AMC).
IIFL made the investment through its wealth management subsidiary IIFL Wealth Management (IIFLW), a holding company of IIFL AMC.
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According to Business Standard, IIFL AMC current net worth is INR520 million, marginally above the INR500 million mark set by Indian capital markets regulator SEBI. The previous threshold was INR100 million.
By complying with the mandate, IIFL AMC has joined Motilal Oswal Asset Management Company and Religare Invesco Asset Management Company that have increased its net worth to above the set mark.
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