Edelweiss buys back 5.3% from wealth management partner PAG for Rs 230 cr

According to the agreement, which was to lapse this month, no premium or discount was involved

Edelweiss Wealth Management, among the top-three private wealth managers with Rs 1.81 lakh crore of assets under management, has bought back 5.28 per cent of its shares from the partner PAG by paying Rs 230 crore, thus increasing the stake to 44.16 per cent.

Edelweiss Group Chairman and CEO Rashesh Shah told PTI that the transaction is as per the agreement signed in August 2020 when PAG, which is the world's largest Asia-focused investment group, had picked up 61.5 per cent for around Rs 2,366 crore and the price paid today for the 5.3 per cent stake is the same it