The subsidiary of IIFL Wealth Management has led the issuance of structured products in India, known as market-linked debenture (MLD), accounting for 81.8% of the market share in Q1 21.
The firm has marketed 39 MLDs during the first three months of the year followed by Edelweiss Financial Services (17), Edelweiss Finance & Investments (13) and ECap Equities (11), which doubled its issuance in 2020 and accounted for 47% of that in 2019, according to SRP data . The 80 products issued in India in Q1 21 are all fully principal-protected, 70 of which are linked to 10-year India government bonds with a yield of 5.77% with the remaining linked to the Nifty 50 index. T
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