Edelweiss In Talks With Strategic Investors To Offload Stake In Wealth Business
Employees work at their desks in a brokerage firm in Mumbai, India. (Photographer: Prashanth Vishwanathan/Bloomberg)

Edelweiss In Talks With Strategic Investors To Offload Stake In Wealth Business

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Edelweiss Financial Services Ltd. on Thursday said it is in discussions with a few strategic investors to offload part of its stake in its wealth business.

The company, however, did not share any details about the said investors or the quantum of stake it intends to divest.

"While some discussions are taking place with a few strategic investors, we would make disclosures of events, if any, as required under regulation 30 of (LODR) Regulations," Edelweiss Financial Services said in a regulatory filing.

The company was clarifying about media reports that the company is in advanced talks with U.S.-based Kora Management to sell 20 percent stake in Edelweiss Wealth Management for a consideration of about Rs 2,000 crore.

Shares of Edelweiss Financial Services were trading as much as 1.92 percent lower at Rs 158.10 apiece as of 12:07 p.m. on the Bombay Stock Exchange.

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