Edelweiss Financial Services Divests 6.2% Stake in Nuvama Wealth Management for Rs 1,481 Crore

Edelweiss Financial Services divested a 6.2% stake in Nuvama Wealth Management, raising Rs 1,481 crore through open market transactions. The sale was executed via its subsidiaries, ECap Equities and Edel Finance Company, on the BSE. ECap Equities sold 17.09 lakh shares, while Edel Finance Company offloaded 5 lakh shares. The average selling price was Rs 6,702.6 per share, resulting in a total deal value of Rs 1,481.21 crore.

Representative image

At the end of June, Edel Finance Company held a 5.18% stake in Nuvama Wealth Management, while ECap Equities owned an 8.44% stake in the Mumbai-based company, according to BSE data. Buyers of these shares included Societe Generale, Capri Global Holdings, Goldman Sachs, Ghisallo Master Fund LP, Morgan Stanley, New York State Teachers Retirement System, Verition multi-strategy master fund, and Capital Group.

Nuvama Wealth and Entero Healthcare Transactions

Nuvama Wealth Management's shares increased nearly 1%, closing at Rs 6,837.15 on the BSE. Previously known as Edelweiss Broking Ltd, Nuvama Wealth and Investment Ltd is an Indian financial services firm. In another transaction on the BSE, Prasid Uno Family Trust sold a 5.5% stake in Entero Healthcare Solutions for Rs 313 crore through open market transactions.

The shares were sold at an average price of Rs 1,305 each, bringing the transaction value to Rs 313.20 crore. Following this sale, Prasid Uno Family Trust's stake in Entero Healthcare decreased from 15.98% to 10.46%. Entities like Invesco Mutual Fund, Societe Generale, Morgan Stanley, CSIM India Opportunities Fund 1, Mackenzie Investments from Canada, and Stichting Depositary APG Tactical Real Estate Pool acquired stakes in Entero Healthcare Solutions.

SpiceJet Share Sale

Entero Healthcare Solutions' shares rose by 9.43%, closing at Rs 1,437.35 on the BSE. Meanwhile, Singularity Holdings sold 65 lakh shares of SpiceJet for Rs 40 crore through an open market transaction on the BSE. The shares were sold at an average price of Rs 61.61 each, resulting in a transaction value of Rs 40.04 crore.

SpiceJet's shares fell by 4.61%, ending at Rs 58.99 on the BSE following this transaction.

The recent transactions highlight significant movements in the Indian financial market with major players adjusting their stakes across various sectors.