| <p>Edelweiss Financial Services Limited announced that the sale of up to 45% stake in its subsidiary, Nido Home Finance Limited, by Edelweiss Financial Services Limited, Edelweiss Rural & Corporate Services Limited, and Edel Finance Company Limited to CA Sardo Investments and Salisbury Investments Private Limited has been completed, with the Buyers investing over Rs 2,000 crore through primary capital infusion and secondary purchase. The consideration for the transfer of 45% of Nido’s paid-up equity share capital was Rs 5,80,67,79,525, while Nido issued 2,59,06,736 equity shares and 5,18,13,472 warrants to the Buyers for Rs 14,46,13,99,102.56, resulting in the Buyers holding 58.26% of Nido, which will increase to 72.70% within 18 months, and Nido ceasing to be a subsidiary of Edelweiss Financial Services Limited.</p> |