Edelweiss Financial Services in talks with strategic investors to off-load stake in wealth business

Edelweiss Financial Services on Thursday said it is in discussions with a few strategic investors to off-load part of its stake in its wealth business

Press Trust of India July 18, 2019 12:27:19 IST
Edelweiss Financial Services in talks with strategic investors to off-load stake in wealth business
  • The company did not share any details about the said investors or the quantum of the stake it intends to divest

  • While some discussions are taking place with a few strategic investors, we would make disclosures of events, if any, as required under regulation 30 of (LODR) Regulations, Edelweiss Financial Services said in a regulatory filing

  • The company was clarifying about media reports that the company is in advanced talks with US-based Kora Management to sell 20 percent stake in Edelweiss Wealth Management for a consideration of about Rs 2,000 crore

New Delhi: Edelweiss Financial Services on Thursday said it is in discussions with a few strategic investors to off-load part of its stake in its wealth business.

The company, however, did not share any details about the said investors or the quantum of the stake it intends to divest.

Edelweiss Financial Services in talks with strategic investors to offload stake in wealth business

Representational image. Reuters.

"While some discussions are taking place with a few strategic investors, we would make disclosures of events, if any, as required under regulation 30 of (LODR) Regulations," Edelweiss Financial Services said in a regulatory filing.

The company was clarifying about media reports that the company is in advanced talks with US-based Kora Management to sell 20 percent stake in Edelweiss Wealth Management for a consideration of about Rs 2,000 crore.

Shares of Edelweiss Financial Services were trading 1.21 per cent lower at Rs 159.60 apiece on BSE.

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Edelweiss 11.85% NCDs open tomorrow: All you need to know
Investing

Edelweiss 11.85% NCDs open tomorrow: All you need to know

Edelweiss Financial Services Limited announced its public issue of secured non-convertible debentures (NCDs). The issue is open from 16 January to 27 January. The issue aggregating to Rs 250 crore, comes with an option to retain over-subscription up to Rs 250 crore.

Cochin Shipyard IPO oversubscribed 3.16 times on second day of three-day bidding
Business

Cochin Shipyard IPO oversubscribed 3.16 times on second day of three-day bidding

The IPO received bids for 10,72,21,140 shares against the total issue size of 3,39,84,000 shares, data available with the NSE showed.

Prince Pipes and Fittings makes weak debut on bourses, shares tank over 10% from issue price of Rs 178
Business

Prince Pipes and Fittings makes weak debut on bourses, shares tank over 10% from issue price of Rs 178

The Rs 500-crore initial public offer (IPO) of Prince Pipes and Fittings was subscribed 2.21 times.