Ahmedabad (Gujarat), India, September 21: IIFL Capital Services Limited today launched a new office in Ahmedabad dedicated to private wealth management for High Net-worth Individuals (HNIs) and Ultra High Net-worth Individuals (UHNIs), extending its reach into one of India’s fastest-growing business hubs. IIFL Capital Services is among the largest wealth managers in India, with roughly $26 billion (about Rs 2.6 lakh crore) in assets under management, advice and custody.
The office, at Z2, Zydus Hospital Road, sits in the heart of Ahmedabad’s business district — a deliberate bet on the city’s rising affluence. Ahmedabad’s metro GDP topped $136 billion in 2023, with per-capita income (PPP) of roughly $26,000, making it one of India’s wealthiest urban centres and a natural market for private wealth services. Ahmedabad along with Vadodara and Surat are among the top ten wealthiest cities in terms of GDP.
The office was inaugurated by Mr. Sudhir Vaid, Chairman and Managing Director of Concord Biotech Limited and one of India’s most respected entrepreneurs, in the presence of Mr. R. Venkataraman, Managing Director of IIFL Capital Services; Joint CEO Mr. Prakash Bulusu; and Mr. Jay Ahuja, Managing Partner and Gujarat State Head. “Mr. Sudhir Vaid A Visionary Business Leader, Philanthropist, Chairman & Managing Director of Concord Biotech Limited said at the inauguration. “I wish IIFL Capital the very best for their Gujarat foray into private wealth management. I have known the group well and for the amazing work that the institution is doing in the country . ” “This is a significant milestone for IIFL Capital as we strengthen our position as the country’s leading wealth management firm,” said Mr. Prakash Bulusu, Joint CEO, IIFL Capital Services. “Our Ahmedabad office will offer clients the full breadth of our wealth management capabilities as their needs continue to evolve.”
52 Sundays, 52 Themes brings the flavours of Uttarakhand and Himachal Pradesh to Adalaj Pavilion on September 27
Ahmedabad, September 22, 2026: ITC Narmada, a luxury collection hotel in Ahmedabad, will take guests on a gastronomic journey to the Himalayan heartland with ‘A Taste of the Mountains’, the latest edition of its year-round 52 Sundays, 52 Themes culinary series. The Pahadi-themed brunch will be hosted at the hotel’s signature all-day diner, Adalaj Pavilion, on September 27.
The signature brunch will explore the distinct food traditions of Uttarakhand and Himachal Pradesh, bringing together rustic mountain recipes, regional staples and comforting preparations shaped by the ingredients and culinary practices of the hills.
Born from the mountains and shaped by their seasons, the cuisines of Uttarakhand and Himachal Pradesh are hearty, earthy and often made with local produce. From Uttarakhand’s Gahat, Chainsoo and Kafuli to Himachal’s rich Dhams, slow-cooked meats and grain-based breads, Pahadi food embodies the warmth and resourcefulness of Himalayan kitchens.
Chefs at ITC Kitchens have curated a menu that will feature Gahat Dal Shorba, Asala Fried Fish, Kafuli, Chainsoo, Aloo Ke Gutke, Bhaddu Mutton and Mandua Ki Roti. The meal will also include Kumaoni Raita, Jhangora Ki Kheer and Arsa, showcasing the range of savoury and sweet preparations associated with the region.
“The cuisine of Uttarakhand and Himachal Pradesh is often simple, made from a bountiful of local ingredients with recipes that have evolved around the landscape and seasons of the mountains. With ‘A Taste of the Mountains’, we wanted to bring these lesser-explored flavours to Ahmedabad and give our guests a glimpse into the diverse culinary traditions of the Himalayan region. From the earthy flavours of Chainsoo and Kafuli to Mandua and Jhangora, the menu brings together dishes that are distinctive, comforting and deeply connected to their place of origin,” said Mr Sumeet Rohela, Executive Chef, ITC Narmada.
Through 52 Sundays, 52 Themes, ITC Narmada presents a different culinary theme each Sunday, drawing from regional cuisines, ingredients, festivals and food traditions. The initiative gives the hotel’s culinary team an opportunity to explore diverse cuisines and present them through curated Sunday dining experiences.
‘A Taste of the Mountains’ will be served on Sunday, September 27, at Adalaj Pavilion, ITC Narmada. Prior reservations are advisable for patrons to enjoy a seamless experience.
Jay Ahuja who is a qualified Chartered Wealth Manager & an alumnus of ICFAI, comes with over two decades of private banking experience in top Indian and multi-national banks will lead IIFL Capital’s wealth management coverage in Gujarat along with a team of five bankers. IIFL Capital has spent the past two years building out its wealth management franchise, anchored by veteran private bankers Prakash Bulusu and Raghav Gupta, who joined as Joint CEOs in May 2024. The firm plans to bring on additional senior private bankers nationally to serve India’s expanding HNI and UHNI base.
Bulusu and Gupta previously served as Senior Managing Partners at ASK Asset and Wealth Management (majority-owned by Blackstone, the world’s largest private equity firm), where they ran the firm’s North, South and East India businesses as well as its offshore operations. India’s wealth and asset management industry is evolving quickly. As promoters, entrepreneurs and senior executives generate wealth at a faster pace, demand for skilled advisors is outstripping supply — a gap that has drawn strong interest from global private equity majors including Blackstone, KKR, Bain Capital, General Atlantic and PAG.
