Mumbai-based Edelweiss to sell 20% of wealth business

Pedro Gonçalves
clock • 1 min read

Financial services group Edelweiss is in talks to sell a 20% stake in its wealth management unit to US-based investment firm Kora Management, a media report said. Kora may pay Rs 2,000 crore for the stake in Edelweiss Global Wealth Management Ltd, valuing the unit at Rs10,000 crore, The Economic Times said, citing two people aware of the development. "Edelweiss is in touch with prominent global institutional investors, who want to invest in high quality companies and are keen to partner in the India growth story," a source told the newspaper. Edelweiss Group may use the proceeds fr...

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