Edelweiss Employees Trust divests 1.7% stake in Edelweiss Fin for ₹145 cr

Edelweiss Employees Trust sold 16 mn shares worth ₹145 cr; Carnelian, Miri Capital, and others picked up stakes as Edelweiss shares rose 3.15% on the BSE

Edelweiss Employees Welfare Trust on Tuesday sold a 1.7 per cent stake in Edelweiss Financial Services for approximately ₹145 crore through an open market transaction.

 

According to bulk deal data on the BSE, the trust offloaded 16 million shares, amounting to a 1.7 per cent stake in the company.

 

The shares were sold at an average price of ₹90.40 apiece, resulting in a total transaction value of ₹144.64 crore.

 

As of the March quarter, Edelweiss Employees Welfare Trust held a 1.81 per cent stake in the company.

Carnelian, Others Acquire Stake

In a parallel development, Mumbai-based Carnelian Asset Management & Advisors acquired 8 million shares—equivalent to a 0.85 per cent stake in Edelweiss Financial Services. These were purchased at the same average price of ₹90.40 per share, valuing the deal at ₹72.32 crore. 

 

Information on additional buyers in the transaction was not immediately available.

 

On Tuesday, shares of Edelweiss Financial Services closed 3.15 per cent higher at ₹94.18 on the BSE.

CLSA Trims Stake

Earlier, on 14 May, capital market and investment firm CLSA sold a 1.2 per cent stake in Edelweiss Financial Services for ₹100 crore through an open market transaction.

 

CLSA, via its affiliate CLSA Global Markets Pte, offloaded over 11.3 million shares at an average price of ₹88.55 each, amounting to a deal value of ₹100.08 crore, as per bulk deal data from the National Stock Exchange (NSE).

 

Following the sale, CLSA’s stake in Edelweiss Financial Services decreased from 5.74 per cent to 4.54 per cent.

Miri Capital Also Buys

Meanwhile, US-based Miri Capital Management acquired over 11 million shares—representing a 1.16 per cent stake—in Edelweiss Financial Services for ₹98 crore. The purchase was made through its investment arm, Miri Strategic Emerging Markets Fund LP.