Shares of Edelweiss Financial Services fell as much as 5 percent intraday after reports emerged that the company is planning to offload some stake in its wealth business.

According to a report in The Economic Times, the company is in advanced talks with US-based Kora Management to sell 20 percent stake in Edelweiss Wealth Management for a consideration of about Rs 2,000 crore.

“Edelweiss will raise Rs 2,000 crore by selling this stake and it will help in meeting debt obligations during this quarter,” a person familiar with the matter told the daily.

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Edelweiss Financial Services Under Pressure

Shares of Edelweiss Financial Services fell as much as 5 percent intraday after reports emerged that the company is planning to offload some stake in its wealth business.

According to a report in The Economic Times, the company is in advanced talks with US-based Kora Management to sell 20 percent stake in Edelweiss Wealth Management for a consideration of about Rs 2,000 crore.

“Edelweiss will raise Rs 2,000 crore by selling this stake and it will help in meeting debt obligations during this quarter,” a person familiar with the matter told the daily.





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