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Coffee Day Arm Way2Wealth Brokers Buys An NBFC

10 March, 2009

Way2wealth Brokers Pvt Ltd, the equity and commodities broking arm of Bangalore-based Coffee Day Holdings, has acquired a city based non banking financial company (NBFC), Prudential Integrated Finances (PIF). The company was a part of the vehicle financing firm Prakash Leasing. The deal size is not disclosed.

Way2Wealth will use PIF for securities lending. Way2wealth is ready to lend up to Rs 150 crore on its capital base. The funds will be generated trough internal accruals on an incremental basis. The firm also plans to rope in a strategic partner.

Way2wealth plans to grow its business through the acquisition as it is looking at growing its Asset under management (AUM) by 50% during the next fiscal year. It currently manages assets worth Rs 1,000 crore. The firm has also appointed a core team from IL&FS group and the ICICI group to increase its AUM. 

There are currently 140 Way2wealth outlets across the country. It plans to increase this number to 200 by the next fiscal. The firm currently offers services such as equity, derivatives, currency futures, commodities trading, IPO’s, insurance (life/non-life), mutual funds, portfolio management services & depository services.

Coffee Day Holdings, the parent of way2wealth, is a Rs 800 crore company. The firm is expanding its presence in SEZ developments as well as in the hospitality sector. Besides retailing coffee through its Café Coffee Day outlets across the country, it also deals in exports of coffee.


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Coffee Day Arm Way2Wealth Brokers Buys An NBFC

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