Page 2 - Edelweiss

No undue pressure exerted on Desai, interest rate not excessive: Edelweiss

Hours after a case was registered against its top officials for allegedly abetting the suicide of Bollywood art director Nitin Desai, Edelweiss ARC on Friday denied that it had put pressure on him for repaying loans. Stating that it followed all legal processes mandated by the RBI, the Asset Reconstruction Company also clarified that Desai, who had defaulted on a Rs 252 crore loan, was not charged an excessive interest rate. Neither was the interest rate charged excessive nor was there at any time undue pressure being put on the borrower for recovery, the company said in a late evening statement. Earlier in the day, the Raigad police in Maharashtra registered a first information report against Edelweiss Group chairman Rashesh Shah and four others including officials from the ARC, for allegedly abetting Desai's suicide. Deputy Chief Minister Devendra Fadnavis had on Thursday told the state legislature that the investigators will probe whether Desai was charged high interest for the

Mutual funds offer lower costs as competition rises in passive space

Edelweiss MF brings down index fund costs to the lowest in their category

Competition Commission gives nod to Edelweiss-Biocon Biologics deal

Fair-trade regulator CCI on Tuesday said it has cleared Edelweiss Alternative Asset Advisors and ESOF III Investment Fund's subscription to certain compulsorily convertible debentures of Biocon Biologics Ltd. The deal has been cleared under the green channel route. Edelweiss Alternative Asset Advisors is a Sebi-registered alternative asset advisor, while ESOF III Investment Fund is a Sebi-registered Alternative Investment Fund (AIF). The proposed combination relates to Edelweiss Alternative Asset Advisors and ESOF III Investment Fund's proposal to subscribe to certain compulsorily convertible debentures issued by Biocon Biologics Ltd (BBL), according to CCI. BBL is a global biosimilar firm, engaged in the manufacturing and commercialisation of pharmaceutical formulations. The Competition Commission of India (CCI) said it has approved the proposed deal. "The parties' activities do not exhibit any horizontal, vertical, or complementary overlaps in any of the plausible relevant ...

Easing material costs to aid Pidilite margins, near-term pressures weigh

Upsides from current levels may be capped due to higher valuations

Edelweiss Energy InvIT raises Rs 2,300 crore; to invest in energy assets

AnZen Trust has acquired two operating inter-state transmission assets, located in the states of Punjab, Haryana and Bihar

L&T may conclude divestment of its road assets by the end of FY23

Exit from Hyderabad Metro, Nabha Power may take 2-3 years, says CFO R Shankar Raman

CCI puts AGI Greenpac's acquisition of HNG on hold, seeks more details

On the CCI website, the notice filed by AGI Greenpac on September 27 regarding the acquisition, has been marked as 'Notice Not Valid'

Nestle India could sustain sales growth outperformance in coming quarters

Near-term margins, however, may remain under pressure

Bharat Bond ETFs cross Rs 50,000 crore AUM mark, says Edelweiss MF

Milestone achieved within three years of launch of first tranche

Edelweiss raises $425 mn for 3rd special situation fund, seeks $1 bn corpus

Company says it has investment commitment from insurance companies, pension funds, high net worth individuals

Edelweiss arm aims to raise $1 billion in third distressed asset fund

Edelweiss Alternative on Tuesday said it is targeting to raise USD 1 billion (about Rs 8,000 crore) in its third distressed asset fund, eyeing strong opportunities in the space. The company has already raised USD 425 million or Rs 3,400 crore for the third 'Special Situations Fund' (SSF III) from large insurance companies and pension funds globally, as also domestic high net individuals and family offices, it said in a statement. Under an SSF, the company focusses on asset heavy companies and identifies viable underlying businesses that have a strong turnaround potential, or invest in situations where resolution of asset requires capital and domain expertise, it said. In the second fund launched in 2018, it invested Rs 10,500 crore and realised cash of more than Rs 9,500 crore from the portfolio companies, it said. Under the latest fund, it is targeting to raise USD 1 billion with a greenshoe option of USD 500 million, the statement said. Of the Rs 3,400 crore raised till now for

Krsnaa Diagnostics enters B2C segment with chain of 600 diagnostic centres

Mainly a PPP and B2B player, the Pune-based chain offers disruptive pricing

Analysts remain bearish on liquor companies despite Q1 volume gains

Raw material pressures and lack of pricing power key reasons for this view

India VIX signals caution, but don't panic just yet, say analysts

The latest reading is well below this year's average of 20.7. Moreover, Monday's 8.8 per cent advance is only the 10th largest seen this year

Specialty drugs may push Sun Pharma's US biz beyond $2 bn by 2025

The share of specialty medicines in overall pharmaceutical spending has been consistently increasing over the past decade, from 22 per cent in 2011 to 39 per cent in 2021

Zomato preview: Experts expect Q1 loss to narrow; revenue may rise 59% YoY

Analysts expect the Gurgaon-based firm's net loss to contract to Rs 315 crore in Q1FY23 from Rs 360.7 crore in the year-ago period.

How tobacco-to-hotels major ITC rose to the challenge during pandemic

ITC Chairman and Managing Director Sanjiv Puri's three years in charge have seen structural shifts that steadied the cigarettes to hotels major against a tough business environment

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

Long-short funds hold fort, deliver 0.17% returns amid market rout

Long-only funds are down 5.85 per cent on a median basis over the last month, according to data from tracker PMS Bazaar

Edelweiss buys back 5.3% from wealth management partner PAG for Rs 230 cr

According to the agreement, which was to lapse this month, no premium or discount was involved