Edelweiss Financial Services Limited has informed the Exchange regarding Notice of Postal Ballot
EDELWEISS · price
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Edelweiss Financial Services is asking shareholders to approve, via postal ballot, the sale of its entire stake in Nido Home Finance Limited, a material housing finance subsidiary. The company and its wholly owned subsidiaries (Edel Finance Company Ltd and Edelweiss Rural & Corporate Services Ltd) will sell 3,12,07,500 equity shares (45% of Nido's paid-up capital) at Rs 193 per share for a total consideration of about Rs 602.3 crores. Buyers are CA Sardo Investments (an affiliate of The Carlyle Group) and Salisbury Investments (an investment vehicle of Mr. Aditya Puri and family). Nido will also issue fresh shares and warrants to the buyers, after which the buyers will hold roughly 73% of Nido on a fully diluted basis and Edelweiss will cease to control Nido. Nido's FY25 turnover was Rs 520.63 crore and net worth Rs 828.20 crore. E-voting runs from March 6, 2026 to April 4, 2026, with results due by April 6, 2026.
The sale aligns with Edelweiss's stated goal of reducing debt and unlocking value, and the ~Rs 602 crore inflow will strengthen the parent balance sheet. However, shareholders are giving up a profitable housing finance subsidiary, and once Nido ceases to be a subsidiary, Edelweiss loses that revenue and net worth contribution going forward.