Thank you very much. We will now begin the question -and-answer session. The first question is from the line of Keshav Karwa from White Pine IVM Capital Limited. Please go ahead.

Hi, sir. Thank you for the opportunity. Sir, I had few questions. First was how much of the AUM growth was organic? And if you see our AUM has always grown faster than the peers for many quarters, but this quarter it was relatively slower, and why is that? This is my first question.

See, if you look at our AUM growth, net collections was roughly about INR4,000 crores. I think INR3,675 crores to be very precise. And I am assuming you're talking about the FPD growth, right? So that we have collected about INR3,600 crores. And so we have been going faster, so maybe this is a one-off and from next quarter we'll start we'll catch up.

Okay. And my second question was on the Fairfax transaction. Have you received the funds yet or are they yet to be received? And how do you intend to deploy the funds? And if the transaction does not get completed, what would be the next step?

So we have not received the funds. As I mentioned in my opening remarks, this is subject to all regulatory approvals. And at this point in time, we the company has applied to various authorities for approval and the approvals are in process. So we think that maybe in the next 2 to 3 months we'll get all the approvals and once the approvals come, only then the preferential allotment will take can take place. So to answer your question, at this point in time, the inflow of INR2,000 crores has not happened.

Okay, sir. And sir, in this quarter, how many RMs did we add?

I think very we added few RMs. I think less, single-digit number of RMs.

Sir, sorry, can you just repeat?

I think the -- I don't know exact head count which has added in RMs, but it's it'll be very few in single digit.

Okay. And sir, can you please provide me with the breakup for institutional broking and investment banking revenue?

I think institutional equities in this quarter was roughly about INR200 crore s. I'm giving you rough number. Don't it'll be in the ballpark INR200 crores.

Okay, sir. Thank you.

Thank you. The next question is from the line of Lalit Mohan Deo from Equirus Securities . Please go ahead.

Yes, hi, sir. Sir, just one question. Sir, like in the presentation, we have a slide which mentions about the AIF and PMS AUM of around roughly around INR4,400 crore s. So do we have any income against the same in this and where is it in the where does it show highlight -- get highlighted in the P&L, please?

So this we have of course income for this and I think this is this goes under financial product distribution.

Sure, sir. And like what are our plans to grow this this business…

I think that's a good question that you have raised. Historically, we have in the last one year, if you remember my earlier calls also, I was saying that we are going to strengthen and start up our manufacturing. So this is a part of our overall manufactur ing plan. So we have started AIF, we have started PMS, we have one credit fund, we have one late -stage fund. So we'll continue to without losing our overall character of open architecture, we want to invest and grow this business.

Sure. Yes. Thank you, sir. That's it.

Thank you. The next question is from the line of Neha from Abakkus Investment Managers . Please go ahead.

Yes, hi, sir. Thank you for taking my question. It's on the implementation of the SEBI regulations from 1st July. So are we seeing any impact from that on the broking business in any way?

You're talking about the margin the RBI guidelines on the margin requirement, right?

Right, right, sir.

Yes. So as of now, we have seen marginal impact because we didn't have large number of - we are not prop traders ourselves and we didn't have a large number of that kind of customers. So we are not seeing big impact, but my guess is it is still too early to comment. So over a period of time, maybe we will see some impact.

Okay. So sir, we do expect to see some impact on the volumes or the turnover in in this quarter?

No, unlikely in this quarter.

Okay. And sir, the implied yield on the distribution is declined to about 87 basis points and it was higher in the previous quarters. So what would be the reason for that?

The FPD income was has fallen because of last quarter we had insurance income booked in that and in the again in the first quarter also we had seen some amount of brokerage income was there. So because of that only the income has fallen and hence the -- that has a resultant impact on the yield. Overall, I think product-wise yield has not changed, but because of this non -ARR income, it has affected.

So but the mix is largely remained the same, right, with mutual funds contributing…

No, no --in the last quarter, the mix had a bit more non-ARR and also more insurance.

Okay. Got it, sir. Thank you, sir.

Actually, if there are no further questions now, we can stop and you know, they all questions all people can ask questions to me and Ronak directly because we have email ID as well as we can reach out to us directly.

Sure, sir. We have a question. Do you want me to take that up?

Yes, yes, of course.

Sure. The next question is from the line of Palash from 360 ONE Capital. Please go ahead.

See, roughly we have roughly we have about INR200 crore s of income on the investment banking and institutional broking, and it will be roughly 50-50 or 60-40. That will be the broad numbers.

Okay, sir. Thank you, sir. That's all.

Thank you, Palash.

Thank you. As there are no further questions, I would now like to hand the conference over to the management for closing comments.

Thank you so much for participating and feel to reach out to either me or Ronak if you have any more follow-on questions. Thank you so much and have a nice day.

Thank you. On behalf of IIFL Capital Limited, that concludes this conference. Thank you for joining us and you may now disconnect your lines.