Edelweiss Financial jumps after Abakkus picks up stake

Abakkus Asset Manager purchased 64,30,780 shares, representing 0.68% equity in Edelweiss Financial Services, for a total consideration of Rs 64.3 crore. The shares were acquired at Rs 100 apiece in the transaction executed on the NSE.

On the sell side, Edelweiss Employees Welfare Trust divested 11,29,270 shares (0.12% equity), while Edelweiss Employees Incentives and Welfare Trust sold 53,01,510 shares (0.56% equity). Together, the two trusts offloaded 0.68% stake in the company.

Edelweiss Financial Services is a diversified financial services company with seven independent businesses. The businesses include alternative asset management, mutual fund, asset reconstruction, corporate lending, housing finance, general insurance and life insurance.

On a consolidated basis, Edelweiss Financial Services' net profit rose 13.38% to Rs 66.77 crore on 2.37% decline in total income to Rs 2,281.08 crore in Q1 June 2025 over Q1 June 2024.

Powered by Capital Market - Live News