Page 2 - Edelweiss Financial Services

Edelweiss Financial Services to sell its 70% stake in insurance broking JV

Edelweiss Financial Services on Friday said it will exit the insurance broking business by selling its 70 per cent stake in Edelweiss Gallagher Insurance Brokers Ltd for Rs 307.60 crore. "The company has entered into an agreement... to divest its entire shareholding (currently 70 per cent) in Edelweiss Gallagher Insurance Brokers Ltd, a subsidiary, engaged in the business of insurance broking to Arthur J Gallagher & Co...," Edelweiss Financial Services said in a regulatory filing. Gallagher, who previously held 30 per cent in the business, will now be acquiring all the remaining shares, taking its stake to 100 per cent, the filing added. The company said, as per the agreement 37,00,000 equity shares of Rs 10 each representing 70 per cent of the paid up share capital of Edelweiss Gallagher Insurance Brokers held by the company to be sold for a consideration of Rs 307.60 crore, in one or more tranches, in the manner as set out in the agreement. In addition to the sale consideration,

Edelweiss Fin Services reports Rs 637-cr net profit for Mar quarter

Edelweiss Financial Services on Friday reported a consolidated net profit of Rs 636.70 crore for the March 2021 quarter. The company had posted a net loss of Rs 2,281.55 crore in the year-ago same quarter. Sequentially also, there was a net loss of Rs 63 crore in the December 2020 quarter. Total consolidated income during January-March 2021 jumped to Rs 4,480.95 crore as against Rs 1,965.87 crore in the year-ago period, Edelweiss said in a regulatory filing. For the full financial year 2020-21, the non-banking financial company had a net profit of Rs 253.91 crore, in contrast to a loss of Rs 2,043.77 crore in 2019-20. Total income for the year rose to Rs 10,848.85 crore, against Rs 9,602.63 crore a year ago, the company said. The company's board of directors has approved a final dividend of Rs 0.55 per share. Total dividend for the year stands at Rs 1.45 per share, it said. Edelweiss Financial Services Chairman and CEO Rashesh Shah said the company's business has been resilient i

Edelweiss Financial Services shares locked in 5% lower circuit

The financial services company's stock has corrected 13 per cent from its 52-week high level of Rs 91.70, touched on Tuesday, March 16

Edelweiss Financial Services plans to invest Rs 800 crore in insurance biz

In the general and life insurance businesses, the firm expects to invest Rs 100 cr a year in the next 3-4 years

Edelweiss Financial Services reports Rs 63 crore loss in third quarter

Edelweiss Financial Services Limited on Saturday reported a consolidated net loss of Rs 63 crore for the third quarter ended in December 2020

Edelweiss Financial Services reports net loss of Rs 56 cr in September qtr

The non-banking financial company had posted a net profit of Rs 67.97 crore in the same quarter a year ago

Sebi imposes Rs 5 lakh fine on Edelweiss Financial's compliance officer

Renganathan was the compliance officer and company secretary of EFSL during the investigation period, according to the Sebi order.

Edelweiss books Rs 2,819 cr pre-tax loss in Q4 on spike in provisions

Plans to bring PE as investor in wealth & asset mgt business; raise up to $200 mn in equity

Edelweiss promoters hike stake to boost investor confidence

Acquire shares worth Rs 1.54 cr in a move aimed at boost investor confidence in the firm, whose shares have shed 54% so far in 2020

Corporate loan share to be 25% over the next two years: Edelweiss

Corporate credit exposure reduced by Rs 1,050 crore on sell-down of loans to completion financing fund

Edelweiss Financial Services Q3 pre-tax profit dips to Rs 51.5 crore

Its stock on Friday closed 1.9 per cent lower at Rs 88.4 per share on the BSE

Edelweiss Financial Services asked to appear before ED on Wednesday

The development follows the statement by the company's Chairman Rashesh Shah stating the firm has no relationship with Capstone Forex, which is being investigated by the ED for FEMA violations

After 50% returns, 2020 may be even better year for Indian primary market

The 14 mainboard IPOs this year have risen by an average of more than 50% since listing, data compiled by Bloomberg show

Puranik Builders re-files IPO papers, plans to raise Rs 1k-cr to pare debt

Edelweiss Financial Services Ltd and Axis Capital will manage the company's initial share-sale. Shares of the company will be listed on the BSE and NSE.

Edelweiss to transfer wholesale loans worth Rs 2,000 crore to AIF

Its corporate loan book stood at over Rs 16,100 crore at the end of September

Edelweiss to transfer wholesale loans worth Rs 2,000 crore to AIF

To halve corporate loans book in two years

Edelweiss financial arm raises Rs 3,000 crore in first half of FY20

The overnight on-balance sheet liquidity (including cash, liquid investments and treasury assets) of the group stood at around Rs 4,200 crore as on September 26, 2019

Rate cut, infusion of liquidity will end credit crisis: Edelweiss chairman

The premium that top-rated non-bank lenders pay over sovereign debt to borrow fell to the lowest in a year last week

Edelweiss falls 7% despite clarification on investment in Kohinoor group

The stock of the financial services firm hit a low of Rs 93, its lowest level since December 27, 2016.

Edelweiss Financial posts 50% decline in Q1 net profit at Rs 134 cr

Company's net profit in the corresponding April-June quarter of previous fiscal was at Rs 263.32 crore