Wealth First Portfolio Managers Limited has announced a significant regulatory milestone for its subsidiary company, marking an important expansion in the group's financial services portfolio with the addition of experienced industry veterans.

SEBI Grants Final AMC License

Lakshya Asset Management Private Limited, a subsidiary of Wealth First Portfolio Managers Limited, has received final approval and license from the Securities and Exchange Board of India (SEBI) dated March 25, 2026. This regulatory clearance authorizes the subsidiary to operate as an Asset Management Company (AMC) for launching and managing mutual fund operations.

Industry Veterans Join Leadership Team

In a strategic move, Lakshya AMC has onboarded key members of the founding team of Benchmark Asset Management Company – Mr. Sanjiv Shah, Mr. Rajan Mehta, and Mr. Sanjay Gaitonde – widely regarded as pioneers of Exchange Traded Funds (ETFs) in India. Benchmark AMC introduced several industry-first products, including India's first ETF, Nifty BeES; India's first Gold ETF, Gold BeES; and the world's first money market ETF, Liquid BeES.

Founded in 2001, Benchmark was the first mutual fund in India which focused exclusively on passive and quantitative investment. The Benchmark AMC product suite was subsequently acquired by Nippon Life India Asset Management from Goldman Sachs Asset Management.

Management Commentary

Commenting on the development, Mr. Ashish Shah, Managing Director of Wealth First Portfolio Managers Ltd., said: "This approval represents a major step forward in expanding our financial services portfolio and strengthens our long-term commitment to providing comprehensive and accessible investment solutions. Our focus in this AMC will be to identify gaps in the investment landscape and build products that effectively address those needs."

Mr. Sanjiv Shah, former Co-founder of Benchmark Asset Management and Director at Lakshya AMC, added: "Just like Benchmark, our approach at Lakshya will be rooted in innovation. We aim to design investment solutions that solve real-world investment challenges and simplify investing for a wide range of investors."

Market Opportunity and Strategic Positioning

India's mutual fund industry has expanded dramatically from about ₹1 lakh crore in assets under management in 2001 to over ₹82 lakh crore in early 2026, according to the latest data from Association of Mutual Funds in India. Despite this growth, passive investing still represents only 19-20% of total mutual fund AUM in India, compared with over 50% in the United States, indicating substantial headroom for further expansion.

Lakshya AMC will be the first asset management company to be headquartered in Ahmedabad, reflecting a broader shift towards building financial institutions beyond traditional metro hubs. The company plans to leverage its strong sponsorship, experienced leadership team, and innovation-driven philosophy to introduce a suite of differentiated investment products tailored to evolving investor needs in India.

Source: None/Company/INE658T01017/b47d85e2-ca1b-440a-9c08-d988bb9ad955.pdf

Wealth First Portfolio Managers Limited has announced a scheduled virtual meeting with analysts and institutional investors, demonstrating its commitment to maintaining transparent communication with the investment community. The meeting is being organized in accordance with regulatory requirements under SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.

Meeting Details and Format

The company has provided specific details regarding the upcoming investor interaction through its official communication to stock exchanges.

Regulatory Compliance and Information Sharing

The meeting is being conducted pursuant to Regulation 30(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015. The company has emphasized that all discussions will be based strictly on publicly available information.

Key compliance aspects include:

• No unpublished price sensitive information (UPSI) will be discussed
• Information will be disclosed on the company website at www.wealth-firstonline.com
• The meeting details have been formally communicated to both NSE and BSE
• Changes may occur due to exigencies on the part of participants or the company

Corporate Communication Framework

The announcement was made on March 20, 2026, through official communication to the National Stock Exchange of India Limited and BSE Limited. The company's Managing Director, Ashish Shah (DIN: 00089075), has signed the official intimation, ensuring proper corporate governance protocols are followed.

This investor meeting represents part of the company's ongoing efforts to maintain regular communication with the investment community while adhering to regulatory requirements and ensuring transparency in information sharing.