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IIFL Capital Services Ltd has received approval from SEBI to establish a wholly owned subsidiary at GIFT IFSC. The new entity will operate as a separate legal unit and carry out permitted financial and capital market activities, subject to further regulatory approvals where needed. The move is aimed at expanding the firm's international platform, facilitating cross-border investments and offering global investors access to Indian markets. IIFL Capital currently manages assets worth about USD 28 billion and has a presence across major global financial centres.
IIFL Capital Services Ltd, a firm engaged in wealth management, broking and investment banking, has received approval from the Securities and Exchange Board of India to set up a wholly owned subsidiary at Gujarat International Finance Tec-City International Financial Services Centre, also known as GIFT IFSC. Advertisement
The proposed entity, to be named IIFL Capital Services (IFSC) Ltd or IIFL Capital (IFSC) Limited, will function as an independent legal company. It will undertake financial services and capital market activities permitted under the GIFT IFSC framework. The operations will be subject to further clearances from regulators such as the Reserve Bank of India and other relevant authorities, wherever required.
The regulatory approval is part of IIFL Capital's plan to strengthen its international business platform by using India's offshore financial hub. GIFT IFSC has been positioned by the government as a centre for cross-border financial services, offering tax and regulatory advantages to attract global investors and institutions.
The IFSC subsidiary will focus on catering to overseas investors, supporting cross-border investment flows, and improving access to global financial products. The company has stated that the new unit will maintain clear regulatory separation from its domestic businesses and will follow governance standards prescribed by SEBI for IFSC entities.
Managing Director R Venkataraman indicated that the approval allows the firm to create a dedicated international platform that connects global investors with Indian opportunities, while also enabling Indian issuers to tap international capital pools within a regulated and transparent framework.
IIFL Capital Services currently manages and administers assets worth about USD 28 billion. Its business spans wealth management, broking, investment banking and institutional equities. The company has sales and distribution teams operating from Mumbai, Singapore, London and New York, giving it an established presence across major financial markets.
GIFT IFSC has seen growing interest from domestic financial firms over the past few years as regulators ease norms and expand the range of permissible activities, particularly in areas such as fund management, offshore banking, capital markets and insurance.
Source PTI
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