Way2Wealth scouting for strategic partner

Way2Wealth, an investment advisory firm, is on the lookout for a strategic partner to fuel its growth plans. The company has had recent discussions with a select number of global and Indian players to divest a strategic stake which will see the new partner in control to drive future growth.

The company started in 2000 is funded by Global Technology Ventures (GTV) and its chairman V G Siddhartha who also manages Cafe Coffee Day besides other interests. This firm has grown to a reasonable size of little more than Rs 20 crore with decent margins.

According to a senior official of the company, it is going in for this strategic divestment to fuel its aggresive growth plans of spreading its network to tap the investment boom in the markets. The company has close to 500 professionals in its rolls and has a strong 50 plus points of presence in the country.

"GTV holds around 12 per cent stake in this firm, while Siddhartha holds more than 60 per cent and it is likely that these two might take a back seat in this venture which will see the strategic partner gain control to take the company further," the official explained.

Commenting on this move of one more investment advisory firm going in for strategic divestment, a market analyst highlighted that given the strong showing of IndiaBulls and IL&FS Investmart both on the retail and wholesale fronts, must have given Way2Wealth the confidence to go for this move.

Way2Wealth's product offering includes mutual funds units, IPOs and bonds on the primary market front in addition to equity and derivatives trading on the secondary market front.