IIFL Capital Unveils Bengaluru Hub, Eyes Wealth Management Growth

IIFL Capital Services Limited, a prominent wealth manager in India, has opened a new office in Bengaluru aimed at catering to High Networth Individuals and Ultra High Networth Individuals. The move aligns with the city's economic upswing, positioning IIFL as a key player in India's burgeoning wealth management sector.

In a strategic expansion effort, IIFL Capital Services Limited, previously known as IIFL Securities Limited, has inaugurated its state-of-the-art office in Bengaluru, positioning itself as a major force in the wealth management sector. The new office, located on Lavelle Road in the heart of Bengaluru's business district, aims to tap into the city's burgeoning affluence and economic landscape.

Bengaluru, often referred to as India's Silicon Valley, boasts a gross domestic product exceeding $360 billion. This economic powerhouse is anticipated to be the fastest growing city globally by 2035, according to the Bangalore Innovation Report. Such dynamics present a significant opportunity for IIFL Capital, a major wealth management firm managing around $30 billion in assets.

During the inauguration, prominent business leaders, including Irfan Razack of Prestige Group, expressed confidence in IIFL Capital's innovative approaches. Prakash Bulusu, Joint CEO, marked the occasion as a significant benchmark, highlighting the firm's rebranding journey to IIFL Capital Services Limited as part of its transformation from a securities focus to comprehensive wealth management services. This office is the first in a series of expansions planned nationwide.

(With inputs from agencies.)