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 off-load 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: Jul 18, 2019 12:27:19 IST