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Edelweiss Financial rises 5 pc as CCI clears Edelweiss-Kora deal

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Press Trust of India New Delhi
Last Updated : Oct 17 2019 | 6:20 PM IST

Shares of Edelweiss Financial Services on Thursday gained over 5 per cent following the Competition Commission's approval for the US-based Kora's proposed investment worth USD 75 million (about Rs 532 crore) in Edelweiss Group.

The stock closed 5.06 per cent higher at Rs 87.20 on the NSE. On the BSE, shares settled 4.16 per cent up at Rs 85.40 apiece.

As per the share subscription agreement, Kora is to invest in Edelweiss Securities Ltd (ESL) and Edelweiss Global Investment Advisory (EGIA) business subsidiaries.

The deal was announced in August.

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First Published: Oct 17 2019 | 6:20 PM IST

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