Edelweiss transfers 10% stake in EAML and ETCL to WestBridge Capital
EDELWEISS · price
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On the reaction day the stock moved in line with Nifty Microcap 250 and 0.5 pts less than its Holding Company peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Edelweiss Financial Services has transferred 10 percent of the paid-up equity in its subsidiaries Edelweiss Asset Management (EAML) and Edelweiss Trusteeship Company (ETCL) to WestBridge Capital affiliates. This is the first tranche of an up to 15 percent stake sale announced earlier. The balance 5 percent will be transferred later per agreement terms. WestBridge invested through Setu AIF Trust, Konark Trust, and MMPL Trust after receiving SEBI no-objection and other regulatory approvals.
Strategic investment by marquee investor WestBridge Capital validates Edelweiss asset management business and may support positive stock sentiment.