Edelweiss Financial Services has commenced the process of selling equity in its alternative asset management unit, Edelweiss Alternative Asset Management (EAAM), aiming to raise approximately INR 1,500 crore to INR 2,000 crore ($180.69 million-$240.93 million). The company plans to divest a 10%-20% stake in EAAM, with the stake sale expected to conclude within four to five months. Edelweiss aims to utilize the proceeds to reduce debt and enhance its market value. EAAM’s assets under management were reported at INR 500 crore as of September-end, reflecting a compound annual growth rate of 31% since fiscal year 2017.
Edelweiss Financial Services Initiates Stake Sale in Alternative Asset Management Unit
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