The initial uptick in Edelweiss Financial Services share came after the RBI, with immediate effect, lifted the restrictions imposed on ECL Finance, and Edelweiss ARC
According to reports the company was looking to sell a minority stake in its mutual fund arm and has initiated the process by hiring an investment banker.
The 13th largest fund house may be valued around $700-$800 million
Nuvama Wealth Management was listed on the BSE and NSE in September 2023, following the demerger of Edelweiss Financial Services' wealth management business