Edelweiss Group announces strategic investment by PAG in Edelweiss Wealth Management

Edelweiss Group (Edelweiss) announces completion of a strategic investment by PAG in Edelweiss Wealth Management consequent to receipt of all regulatory approvals and closure of all formalities.

Transaction Highlights

- PAG has made an investment of ~INR 2,366 crore in EWM, including primary and secondary investment.

- Pursuant to these transactions, PAG Group and EFSL will be the shareholders in EWM, of which PAG will hold a controlling stake.

- EWM reported Revenues of INR 880 crores and Profit after Tax of INR 180 crores for the nine-month period ended December 31, 2020.

- The primary capital infusion in the EWM business from PAG will further strengthen the equity base of EWM and ensure availability of growth capital.

- Edelweiss and PAG will continue to work together towards value unlocking through demerger and listing of EWM business.

Shares of Edelweiss Financial Services Ltd. was last trading in BSE at Rs.77.8 as compared to the previous close of Rs. 81.85. The total number of shares traded during the day was 192557 in over 1525 trades.

The stock hit an intraday high of Rs. 81.95 and intraday low of 77.8. The net turnover during the day was Rs. 15151122.

Source : Equity Bulls

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