Edelweiss Financial Services

No service tax on corporate guarantees by parent company to subsidiaries in absence of consideration, it says

Edelweiss Financial Services on Thursday said the board of the company has approved raising up to Rs 1,500 crore through Non-convertible Debentures (NCDs) to fund business growth. Besides, the board has also declared an interim dividend of Re 0.25 per share on the equity share of the face value of Re 1 each for the financial year ending March 31, 2023. The board in its meeting on Thursday cleared the proposal of raising of funds by way of public issue of non-convertible debentures for an amount not exceeding Rs 1,500 crore, in one or more tranches, the company said in a regulatory filing.

The company's public issue will open for subscription on Tuesday and will close on Jan. 23

In a filing with BSE, the company said improved macro environment and sell-down capabilities were driving faster book reduction

In a Q&A, Aditya Narain says India's valuations have come off but are still more expensive than other markets. Also, downward pressure on earnings makes the environment uncertain

Till 02:09 pm; a combined 37.98 million equity shares representing 4 per cent of the total equity of Edelweiss Financial changed hands on the NSE and BSE.

Edelweiss Financial Services Ltd (EFSL) on Monday said it has raised Rs 456.24 crore through the issuance of non-convertible debentures (NCDs).

Edelweiss Financial Services Ltd (EFSL) Monday said it has raised Rs 400 crore through issuance of non-convertible debentures (NCDs).

CDSL and NBCC have doubled so far this year, while Trident and JK Lakshmi Cement have gained 91 per cent each during the same period

Edelweiss Financial Services on Friday said it will exit the insurance broking business by selling its 70 per cent stake in Edelweiss Gallagher Insurance Brokers Ltd for Rs 307.60 crore. "The company has entered into an agreement... to divest its entire shareholding (currently 70 per cent) in Edelweiss Gallagher Insurance Brokers Ltd, a subsidiary, engaged in the business of insurance broking to Arthur J Gallagher & Co...," Edelweiss Financial Services said in a regulatory filing. Gallagher, who previously held 30 per cent in the business, will now be acquiring all the remaining shares, taking its stake to 100 per cent, the filing added. The company said, as per the agreement 37,00,000 equity shares of Rs 10 each representing 70 per cent of the paid up share capital of Edelweiss Gallagher Insurance Brokers held by the company to be sold for a consideration of Rs 307.60 crore, in one or more tranches, in the manner as set out in the agreement. In addition to the sale consideration,

Edelweiss Financial Services on Friday reported a consolidated net profit of Rs 636.70 crore for the March 2021 quarter. The company had posted a net loss of Rs 2,281.55 crore in the year-ago same quarter. Sequentially also, there was a net loss of Rs 63 crore in the December 2020 quarter. Total consolidated income during January-March 2021 jumped to Rs 4,480.95 crore as against Rs 1,965.87 crore in the year-ago period, Edelweiss said in a regulatory filing. For the full financial year 2020-21, the non-banking financial company had a net profit of Rs 253.91 crore, in contrast to a loss of Rs 2,043.77 crore in 2019-20. Total income for the year rose to Rs 10,848.85 crore, against Rs 9,602.63 crore a year ago, the company said. The company's board of directors has approved a final dividend of Rs 0.55 per share. Total dividend for the year stands at Rs 1.45 per share, it said. Edelweiss Financial Services Chairman and CEO Rashesh Shah said the company's business has been resilient i

The financial services company's stock has corrected 13 per cent from its 52-week high level of Rs 91.70, touched on Tuesday, March 16

In the general and life insurance businesses, the firm expects to invest Rs 100 cr a year in the next 3-4 years

Edelweiss Financial Services Limited on Saturday reported a consolidated net loss of Rs 63 crore for the third quarter ended in December 2020

The non-banking financial company had posted a net profit of Rs 67.97 crore in the same quarter a year ago

Renganathan was the compliance officer and company secretary of EFSL during the investigation period, according to the Sebi order.

Plans to bring PE as investor in wealth & asset mgt business; raise up to $200 mn in equity

Acquire shares worth Rs 1.54 cr in a move aimed at boost investor confidence in the firm, whose shares have shed 54% so far in 2020

Corporate credit exposure reduced by Rs 1,050 crore on sell-down of loans to completion financing fund

Its stock on Friday closed 1.9 per cent lower at Rs 88.4 per share on the BSE