Edelweiss Fin Services Triumphs with Strategic Sale: 6.2% Nuvama Wealth Stake Fetches Rs 1,481 Cr! | Market News
Edelweiss Sells 6.2% Stake in Nuvama Wealth for Rs 1,481 Crore
Edelweiss Financial Services divested a 6.2% stake in Nuvama Wealth Management, generating Rs 1,481 crore in open market transactions. Through its subsidiaries, ECap Equities and Edel Finance Company, Edelweiss executed separate block deals on the BSE, offloading 17.09 lakh and 5 lakh shares, respectively, at an average price of Rs 6,702.6 per share. Post-transaction, Edel Finance’s holding in Nuvama Wealth decreased from 5.18% and ECap Equities from 8.44%.
The buyers included prominent entities like Societe Generale, Capri Global Holdings, and Goldman Sachs. Following the sale, Nuvama Wealth’s stock saw a near 1% increase, closing at Rs 6,837.15.
Additionally, Prasid Uno Family Trust sold 24 lakh shares of Entero Healthcare Solutions for Rs 313 crore, reducing its stake to 10.46%. Buyers included Invesco Mutual Fund and Societe Generale, pushing Entero Healthcare’s shares up by 9.43% to Rs 1,437.35.
In a separate transaction, Singularity Holdings sold 65 lakh shares of SpiceJet for Rs 40 crore, resulting in a 4.61% decline in SpiceJet’s share price to Rs 58.99.
These strategic sales and acquisitions on the BSE reflect significant movements and investor interests in India’s financial and healthcare sectors.
Original Story https://www.business-standard.com/markets/news/edelweiss-fin-services-sells-6-2-stake-in-nuvama-wealth-for-rs-1-481-cr-124092701282_1.html
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