Edelweiss Financials

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 Syst

Edelweiss founders divest stake in Nuvama Wealth Management after demerger

Nuvama Wealth Management was listed on the BSE and NSE in September 2023, following the demerger of Edelweiss Financial Services' wealth management business

RBI rejects Raj Kumar Bansal's reappointment as Edelweiss ARC MD, CEO

Edelweiss Group crisis: The development followed days after the RBI cracked down on the Edelweiss group in May, imposing major business restrictions on two of its subsidiary companies

Edelweiss Financial Services to sell stake in unit for up to Rs 2,000 cr

The move to sell the stake will reduce the company's debt and improve its market value, it said

Edelweiss MF dismiss report of business sale, term reports as 'baseless'

We remain excited about the prospects of this business and remain committed to investing in its growth, said Edelweiss MF CEO

Rakesh Jhunjhunwala hikes stake in Edelweiss in Q1; stock surges 10%

Jhunjhunwala bought an additional 4 million equity shares or 0.42 per cent stake in Edelweiss Financial Services during the second quarter of the current calendar year 2021

Edelweiss Financial plans to slash wholesale book by half to Rs 5,900 crore

Edelweiss has pegged inflows of Rs 3,700 crore in the current financial year (2021-22) and Rs 3,800 crore in FY23.

Edelweiss Financials gains on plans to enter general insurance

IRDA has accepted the registration application (R1) for setting up a general insurance company