BAJAJ BROKING
Edel Finance and Ecap Equities plan to sell a 6.4% stake in Nuvama Wealth Management. The floor price of ₹6,455 per share is 5% below the current market price of ₹6,825 on the NSE.
Edel Finance and Ecap Equities have announced the sale of their combined 6.4% equity stake in Nuvama Wealth Management through block deals. This move has garnered attention due to the significant size of the transaction. The floor price for the deal has been set at ₹6,455 per share, representing a 5% discount compared to Nuvama’s last closing price of ₹6,825 on the National Stock Exchange (NSE). The overall value of the block deal stands at approximately ₹1,464.8 crore.
At the close of the first quarter, Ecap Equities held 8.44% of the total stake in Nuvama Wealth Management, while Edel Finance possessed 5.18%. This joint sale of 6.4% of Nuvama’s equity marks a significant reshuffling of ownership in the company. Both companies will be under a lock-up period for 75 days after the sale, preventing any further transactions of these shares during this period.
The floor price of ₹6,455 per share has been carefully calculated, offering a 5% discount to the current market price. The price discount is expected to attract buyers looking to gain exposure to the wealth management sector at a competitive rate. With the deal size amounting to ₹1,464.8 crore, it indicates the financial heft behind the decision.
This move reflects the growing institutional interest in wealth management. Similar to previous divestments by Edelweiss Financial Services’ founders in August, this sale is part of a broader repositioning by major players in the sector. Nuvama Wealth Management has emerged as a prominent entity in the market, and this transaction adds to the narrative of high-value movements in the company’s stock.
The sale of this equity stake represents a strategic decision by both Edel Finance and Ecap Equities. The lock-up period post-sale ensures that Nuvama’s share price remains stable, benefiting all stakeholders involved.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For All Disclaimers Click Here: https://bit.ly/3Tcsfuc
Moving Averages Indicator: Variations & Examples
13 Dec, 2024 | 8 Min. read
Learn Everything About Breakout Trading
13 Dec, 2024 | 9 Min. read
Gold Price in India | Gold Drops 1% After Reaching Five-Week High
13 Dec, 2024 | 39 Min. read
Statement of Account and Demat Account: Meaning & Differences
13 Dec, 2024 | 4 Min. read
What are the Timing For Commodity Market Trading?
13 Dec, 2024 | 6 Min. read
Defence Ministry Signs ₹13,500-Crore Deal with HAL for Su-30MKI Jets
13 Dec, 2024 | 2 Min. read
Kalpataru Projects To Raise ₹1,000 Cr Via QIP; Bags ₹2,174 Cr Orders
13 Dec, 2024 | 2 Min. read
Repo Rate & Reverse Repo Rate: Differences, Full Form & Meaning
13 Dec, 2024 | 5 Min. read
What is Spread Betting and How Does it Work
13 Dec, 2024 | 9 Min. read
Ashok Leyland Wins ₹345.58 Crore Order for 1,475 BSVI Bus Chassis
13 Dec, 2024 | 2 Min. read
Zomato Faces ₹803 Crore GST Demand, Including Interest and Penalty
13 Dec, 2024 | 2 Min. read
Share Market Today | Gift Nifty Indicates Negative Start For Indian Markets
13 Dec, 2024 | 4 Min. read
RBI Launches ULI: Transforming Loan Access
August 27, 2024 | 4 Min. read
Textile Sector in India
September 20, 2024 | 5 Min. read
List of IPOs with DRHPs Filed
November 30, 2023 | 3 Min. read
Aditya Birla Group
September 28, 2023 | 10 Min. read
Bajaj Housing Finance Ltd IPO: Things Smart Investors Need to Know
September 05, 2024 | 4 Min. read
Budget Stock Ideas 2024-2025 | Stocks to Buy Today
July 24, 2024 | 4 Min. read
IPO Eligibility Criteria : Full Details
March 15, 2024 | 6 Min. read
What Is the Lock-In Period in IPOs?
October 18, 2023 | 6 Min. read
Godfrey Phillips Announces 2:1 Bonus Shares
September 16, 2024 | 7 Min. read
Jindal Group- A Comprehensive Analysis
September 27, 2024 | 7 Min. read
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading