With investment of Rs 2366 crore
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 ~Rs 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 Rs 880 crore and Profit after Tax of Rs 180 crore for the nine-month period ended 31 December 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.
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