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

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Published: July 18, 2019 12:00:47 PM

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

Edelweiss Financial Services, wealth business, BSE, Edelweiss Wealth Management stakeThe company, however, did not share any details about the said investors or the quantum of stake it intends to divest. (Reuters)

Edelweiss Financial Services 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 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.

Also read: Number of stocks with Mcap of Rs 1,000 crore or above slips to lowest since March 2017 

The company was clarifying about media reports that the company is in advanced talks with US-based Kora Management to sell 20 per cent 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.

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