HomeBusinessXander Group invests Rs 75 crore in Sanctum Wealth

Xander Group invests Rs 75 crore in Sanctum Wealth



The Xander Group Inc has invested ₹78 crores in Mumbai based wealth management company, Sanctum Wealth.

“The investment will be made through Xander’s Singapore-based financial services arm and the funds will be used to strengthen Sanctum’s operating platform and increase its client coverage,” Xander said.

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Speaking on the investment, Shiv Gupta, CEO at Sanctum, said, “Over the past five years we have created a world-class platform with a strong customer-centric culture. Having invested heavily in building a strong foundation, we are seeing robust growth in our customer franchise, which we expect to continue.”

“Our partnership with The Xander Group, with whom we share our core values and see many synergies, should allow us to accelerate our growth and further strengthen our platform,” he said.

Further adding to the statement, Shiv Gupta said, “The Indian wealth management sector represents a huge structural opportunity, and we look forward to working with Xander and our existing investors, which includes Multiples Alternative Asset management, to take our franchise to the next level in scope and scale.”

Commenting on the funding in Sanctum, Sid Yog, Founder of Xander Group, Inc., said, “We admire what Shiv and his team have built at Sanctum, demonstrating keen entrepreneurial hunger and alignment of interests with shareholders, attributes we believe are critical to success in this sector but are not easy to find together. We are thus very pleased to make this investment and look forward to helping Shiv and the Sanctum team achieve their next phase growth goals rapidly.”

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Sanctum Wealth commenced business in April 2016 through the acquisition of the Royal Bank of Scotland’s Indian private banking business. It provides a range of wealth management services to high-net-worth individuals in India and abroad. These include the full spectrum of investment services, estate planning solutions, real estate services, and private market solutions.

Zanskar Advisors were the investment bankers for the transaction.

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Krishna Mali
Krishna Mali
Founder & Group Editor of TechGraph.

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