Edelweiss Fin Services sells 6.2% stake in Nuvama Wealth for Rs 1,481 cr

Edelweiss Financial Services on Friday sold a 6.2 per cent stake in financial services company Nuvama Wealth Management for Rs 1,481 crore through open market transactions.

Edelweiss Financial Services, through its two subsidiaries, ECap Equities and Edel Finance Company, sold shares of Nuvama Wealth through separate block deals on the BSE.

ECap Equities offloaded 17.09 lakh shares of Nuvama Wealth Management while Edel Finance Company sold 5 lakh shares, amounting to a total of 6.24 per cent stake in the company.

The shares were offloaded at an average price of Rs 6,702.6 apiece, taking the aggregate deal value to Rs 1,481.21 crore.

At the end of the June quarter, Edel Finance Company held a 5.18 per cent stake in Nuvama Wealth Management, and Ecap Equities owned an 8.44 per cent holding in Mumbai-based Nuvama Wealth Management, BSE data showed.

Societe Generale, Capri Global Holdings, Goldman Sachs, Ghisallo Master Fund LP, Morgan Stanley, New York State Teachers Retirement System and Verition multi-strategy master fund and Capital Group were among the buyers of Nuvama Wealth Management shares.

Shares of Nuvama Wealth Management rose nearly 1 per cent to close at Rs 6,837.15 per piece on the BSE.

Nuvama Wealth and Investment Ltd, formerly Edelweiss Broking Ltd, is an Indian financial services company.

In a separate block deal on the BSE, Prasid Uno Family Trust sold 24 lakh shares or 5.5 per cent stake in Entero Healthcare Solutions for Rs 313 crore through open market transactions.

The shares were offloaded at an average price of Rs 1,305 apiece, taking the transaction value to Rs 313.20 crore.

After the share sale, Prasid Uno Family Trust's stake in Entero Healthcare has come down to 10.46 per cent from 15.98 per cent.

Meanwhile, Invesco Mutual Fund, Societe Generale, Morgan Stanley, CSIM India Opportunities Fund 1, Canada-based Mackenzie Investments and Stichting Depositary APG Tactical Real Estate Pool were among the entities that picked up stakes in Entero Healthcare Solutions.

Entero Healthcare Solutions' shares jumped 9.43 per cent to close at Rs 1,437.35 apiece on the BSE.

In another transaction on the BSE, Singularity Holdings offloaded 65 lakh shares of domestic carrier SpiceJet for Rs 40 crore through an open market transaction.

The shares were sold at an average price of Rs 61.61 apiece, taking the transaction value to Rs 40.04 crore, as per the bulk deal data on the BSE.

Shares of SpiceJet declined 4.61 per cent to end at Rs 58.99 apiece on the BSE.