Edelweiss Financial jumps 6% as Abakkus buys 6.4 mn shares via block deal

Edelweiss Financial shares jumped 6.4 per cent on Thursday, logging an intra-day high at ₹114.85 per share on BSE; check more details

Edelweiss Financial Services shares jumped 6.4 per cent on Thursday, logging an intra-day high at ₹114.85 per share on BSE. At 12:28 PM, Edelweiss Financial Services’ share price was trading 4.4 per cent higher at ₹112.6 per share. In comparison, the BSE Sensex was down 0.59 per cent at 80,310.51. The market capitalisation of the company stood at ₹10,671.44 crore. The 52-week high of the stock was at ₹145.5 per share, and the 52-week low was at ₹73.51.

Why were Edelweiss Financial shares in demand?

The buying interest on the counter came after Abakkus Asset Manager bought 64,30,780 shares at ₹100 per share on the National Stock Exchange (NSE), through a block deal, according to NSE data. 

 

The company also clarified that reports about Rashesh Shah, promoter of Edelweiss Financial Services, selling shares were incorrect, and the block transaction was executed by the Edelweiss Employee Welfare Trust (EWT) in compliance with regulations, which were then acquired by Abakkus Asset Manager Pvt. Ltd.

 

According to the BSE shareholding pattern, as of the quarter ended June 2025, Rashesh Chandrakant Shah held a 15.39 per cent stake in the company. Meanwhile, Venkatchalam A Ramaswamy held 6.3 per cent, Vidya Rashesh Shah held 3.73 per cent, Aparna T Chandrashekar 2.52 per cent, Sneha Sripad Desai 0.1  per cent, Shilpa Urvish Mody 0.10 per cent  and Arakoni Venkatachalam Ramaswamy 0.01 per cent. Total promoter holding stood at 32.71 per cent. 

 

Among the public shareholders, Life Insurance Corporation Of India held 2.57 per cent, foreign portfolio investors category I held 20.58 per cent, and foreign portfolio investors category II held 4.75 per cent. 

 

That apart, recently, the company, along with its subsidiaries signed agreements with WestBridge Capital (through its affiliates Setu AIF Trust, Konark Trust, and MMPL Trust) to sell up to 15 per cent of the paid-up equity share capital in both Edelweiss Asset Management Limited (EAML) and Edelweiss Trusteeship Company Limited (ETCL).

 

EAML, a wholly owned subsidiary, manages the Edelweiss Mutual Fund, while ETCL, also a wholly owned subsidiary, acts as its trustee. These transactions are pending regulatory and other necessary approvals, as well as the fulfilment of conditions outlined in the agreements.