Edelweiss Financial Services

Technical chart shows that select stocks such as Raymond, TTK Prestige and Engineers India which dropped out of the elusive club can slide another 19 per cent from here on.

The initial uptick in Edelweiss Financial Services share came after the RBI, with immediate effect, lifted the restrictions imposed on ECL Finance, and Edelweiss ARC

According to reports the company was looking to sell a minority stake in its mutual fund arm and has initiated the process by hiring an investment banker.

The 13th largest fund house may be valued around $700-$800 million

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The company plans to allocate at least 75% of funds raised to the repayment or prepayment of existing borrowings

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These directions shall be reviewed by RBI upon satisfactory remediation of their observations

Edelweiss Financial Services said its Rs 200 crore public issue of debentures opened on Monday. The non-convertible debentures (NCDs) will have an effective annual yield of 9 per cent to 10.46 per cent. The issue will close on April 23. The NCDs carry fixed coupons and have a tenure of 24 months, 36 months, 60 months, and 120 months with annual, monthly, and cumulative interest options, Edelweiss Financial Services said in a statement. "Edelweiss Financial Services has announced the opening of the public issue of Secured Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs 1,000 each for an amount up to Rs 1,000 million (base issue size), with a greenshoe option of up to Rs 1,000 million (Rs 100 crore), cumulatively aggregating up to Rs 2,000 million (Rs 200 crore)," it said. At least 75 per cent of the funds raised through the issue will be used for the purpose of repayment/prepayment of interest and principal of existing borrowings of the company and the balance .

The move to sell the stake will reduce the company's debt and improve its market value, it said

At least 75% of the funds raised will be used for the purpose of repayment/prepayment of interest and principal of existing borrowings of the company

Wealth management company Nuvama is aiming for a listing by August this year once its demerger from Edelweiss Financial Services gets through, a top official said on Wednesday. Edelweiss Financial Services' shareholders have already given their nod for the demerger. Nuvama, which was earlier called as Edelweiss Wealth Management, will be approaching the National Company Law Tribunal (NCLT) later this month for its approval for the scheme, Nuvama's chief executive and managing director Ashish Kehair told reporters. We would like to do the listing as soon as possible. I feel it will get listed by July or August, he added. Over 55 per cent of Nuvama is owned by private equity fund PAG, while Edelweiss' Rashesh Shah and Venkat Ramaswamy will have a 9 per cent ownership between them, he said. Kehair also announced the company's targets on the business growth front, stating that the wealth management space is under-penetrated in the country. The company, which has client assets of Rs 2

No service tax on corporate guarantees by parent company to subsidiaries in absence of consideration, it says

Edelweiss Financial Services on Thursday said the board of the company has approved raising up to Rs 1,500 crore through Non-convertible Debentures (NCDs) to fund business growth. Besides, the board has also declared an interim dividend of Re 0.25 per share on the equity share of the face value of Re 1 each for the financial year ending March 31, 2023. The board in its meeting on Thursday cleared the proposal of raising of funds by way of public issue of non-convertible debentures for an amount not exceeding Rs 1,500 crore, in one or more tranches, the company said in a regulatory filing.

The company's public issue will open for subscription on Tuesday and will close on Jan. 23

In a filing with BSE, the company said improved macro environment and sell-down capabilities were driving faster book reduction

In a Q&A, Aditya Narain says India's valuations have come off but are still more expensive than other markets. Also, downward pressure on earnings makes the environment uncertain

Till 02:09 pm; a combined 37.98 million equity shares representing 4 per cent of the total equity of Edelweiss Financial changed hands on the NSE and BSE.

Edelweiss Financial Services Ltd (EFSL) on Monday said it has raised Rs 456.24 crore through the issuance of non-convertible debentures (NCDs).

Edelweiss Financial Services Ltd (EFSL) Monday said it has raised Rs 400 crore through issuance of non-convertible debentures (NCDs).