Nuvama Wealth shares fall 5% as Edelweiss likely sold stake in Rs 2,100 crore block deal

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Nuvama Wealth shares fell by up to 5% in Thursday morning trade after a large block deal in which 30 lakh shares of the company changed hands at a per-unit price of Rs 7,025.

The deal, which involved 8.4% equity in Nuvama Wealth, is said to be worth around Rs 2,100 crore, and Edelweiss Group was looking to sell its stake in it, according to TV reports.


Details of the buyer and seller are not yet officially known and are likely to be revealed only in the evening when stock exchanges announce block and bulk deal data.

Nuvama Wealth made its debut on the stock exchanges in September last year after being spun off from Edelweiss Financial Services.


In the September quarter, Nuvama Wealth's Q2 revenue stood at Rs 740 crore, recording a 50% YoY growth, while its operating profit after tax (PAT) stood at Rs 258 crore, a 77% YoY growth.

Also read | FIIs correct November mistake with $3 billion shopping. Is Santa already here?As one of India’s leading integrated wealth management firms, Nuvama oversees Rs 4,41,276 crore of client assets and caters to a diverse set of clients, including approximately 12 lakh affluent individuals and HNIs, as well as 4,050+ of India’s most prosperous families, as of Q2 FY25. Nuvama offers wealth management solutions, covering investment advisory, estate planning, investment management, lending, and broking services for individuals, institutions, CXOs, professional investors, and family offices.

It also offers a wide range of alternative asset management products and is a leading player in capital markets.

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