Edelweiss

Reliance Infrastructure has brought down its external debt liability to Rs 475 crore. The company's net worth now stands at approximately Rs 9,041 crore

Buyback and tax-free dividend had a gap and an equalisation was needed. Volumes in F&O trading had gone up rapidly and, in a way, the increase in STT on F&O will protect investor interest, he said

The fund has about Rs 13,000 crore, half of that about Rs 6,500 crore is still pending (aka still to be used). That will be utilised over two years

An Edelweiss group arm is planning to raise up to USD 500 million (about Rs 4,143 crore) for its maiden climate fund. Edelweiss Alternatives said the fund will be used in areas of renewable energy, transmission infrastructure, developing electric vehicle infrastructure, green infrastructure, water treatment, transport decarbonisation and industrial decarbonisation. Investors will be offered a long-term viable investment vehicle to participate in the world's largest market for sustainable energy transition and "generate far more worthwhile and steady returns", the company said in a statement on Monday. Edelweiss Alternatives President Subahoo Chordia said about USD 10 trillion of investment is required to achieve India's 2070 net-zero target. "Our climate fund will look to invest in this growing and attractive investment opportunity, while also contributing to achieve the Sustainable Development Goals like climate action, clean energy, clean water, and sustainable cities," Chordia .

Radhika Gupta believes the tax change also had some positive implications for the fund house

Senior Edelweiss officials, accused of abetting the suicide of renowned art director Nitin Desai on Friday submitted to the Bombay High Court that he had started delaying on his loan repayment schedules from the end of 2018. Senior counsel Amit Desai, appearing for Edelweiss Financial Services chairman Rashesh Shah, Edelweiss ARC MD and CEO Raj Kumar Bansal and two other company officials, said a total loan of Rs 181 crore was given to Nitin Desai. The senior counsel said there was no mens rea (intention) or instigation on the part of the accused to cause abetment of Nitin Desai's alleged suicide. A division bench of Justices Nitin Sambre and R N Laddha was hearing petitions filed by the officials and Jitender Kothari, who was appointed by the National Company Law Tribunal (NCLT) as an interim resolution professional, seeking for the FIR to be quashed. The petitioners had sought interim order of protection from any coercive action and for the probe to be stayed in the case pending

The Bombay High Court on Friday refused to pass any order granting urgent interim reliefs to Edelweiss company officials, accused of abetting the suicide of renowned film art director Nitin Desai, and said it would hear their pleas against the FIR on August 18. A division bench of Justices N W Sambre and R N Laddha also issued a notice to Desai's wife, who is the complainant in the case. Senior counsel Amit Desai, appearing for Edelweiss Financial Services Chairman Rashesh Shah, Edelweiss Asset Reconstruction Company's MD and CEO Raj Kumar Bansal and two other company officials urged the court to grant them interim protection from any coercive action and also sought quashing of the first information report (FIR) registered against them. Public prosecutor Aruna Kamat Pai told the court that the FIR in the case was registered only last week and that the probe in the case was still on. The bench then said it would hear the petitions on August 18. "Wait for a week. We will hear the ..

Hours after a case was registered against its top officials for allegedly abetting the suicide of Bollywood art director Nitin Desai, Edelweiss ARC on Friday denied that it had put pressure on him for repaying loans. Stating that it followed all legal processes mandated by the RBI, the Asset Reconstruction Company also clarified that Desai, who had defaulted on a Rs 252 crore loan, was not charged an excessive interest rate. Neither was the interest rate charged excessive nor was there at any time undue pressure being put on the borrower for recovery, the company said in a late evening statement. Earlier in the day, the Raigad police in Maharashtra registered a first information report against Edelweiss Group chairman Rashesh Shah and four others including officials from the ARC, for allegedly abetting Desai's suicide. Deputy Chief Minister Devendra Fadnavis had on Thursday told the state legislature that the investigators will probe whether Desai was charged high interest for the

Edelweiss MF brings down index fund costs to the lowest in their category

Fair-trade regulator CCI on Tuesday said it has cleared Edelweiss Alternative Asset Advisors and ESOF III Investment Fund's subscription to certain compulsorily convertible debentures of Biocon Biologics Ltd. The deal has been cleared under the green channel route. Edelweiss Alternative Asset Advisors is a Sebi-registered alternative asset advisor, while ESOF III Investment Fund is a Sebi-registered Alternative Investment Fund (AIF). The proposed combination relates to Edelweiss Alternative Asset Advisors and ESOF III Investment Fund's proposal to subscribe to certain compulsorily convertible debentures issued by Biocon Biologics Ltd (BBL), according to CCI. BBL is a global biosimilar firm, engaged in the manufacturing and commercialisation of pharmaceutical formulations. The Competition Commission of India (CCI) said it has approved the proposed deal. "The parties' activities do not exhibit any horizontal, vertical, or complementary overlaps in any of the plausible relevant ...

Upsides from current levels may be capped due to higher valuations

AnZen Trust has acquired two operating inter-state transmission assets, located in the states of Punjab, Haryana and Bihar

Exit from Hyderabad Metro, Nabha Power may take 2-3 years, says CFO R Shankar Raman

On the CCI website, the notice filed by AGI Greenpac on September 27 regarding the acquisition, has been marked as 'Notice Not Valid'

Near-term margins, however, may remain under pressure

Milestone achieved within three years of launch of first tranche

Company says it has investment commitment from insurance companies, pension funds, high net worth individuals

Edelweiss Alternative on Tuesday said it is targeting to raise USD 1 billion (about Rs 8,000 crore) in its third distressed asset fund, eyeing strong opportunities in the space. The company has already raised USD 425 million or Rs 3,400 crore for the third 'Special Situations Fund' (SSF III) from large insurance companies and pension funds globally, as also domestic high net individuals and family offices, it said in a statement. Under an SSF, the company focusses on asset heavy companies and identifies viable underlying businesses that have a strong turnaround potential, or invest in situations where resolution of asset requires capital and domain expertise, it said. In the second fund launched in 2018, it invested Rs 10,500 crore and realised cash of more than Rs 9,500 crore from the portfolio companies, it said. Under the latest fund, it is targeting to raise USD 1 billion with a greenshoe option of USD 500 million, the statement said. Of the Rs 3,400 crore raised till now for

Mainly a PPP and B2B player, the Pune-based chain offers disruptive pricing

Raw material pressures and lack of pricing power key reasons for this view