In what could be India’s first initial public offering (IPO) in the private capital segment, Edelweiss Financial Services Ltd could soon list its step-down unit Edelweiss Alternative Asset Advisors Ltd (EAAA), said a report on October 1.
The IPO will mostly be an offer for sale and help the parent firm cut its debt, reported Mint. Axis Capital is advising for the issue and the proposal is likely to be taken up in the board meeting scheduled to be held in October-end, the newspaper said.
Moneycontrol could not independently verify the report.
On October 1, shares of Edelweiss Financial Services Ltd were trading 1.05 percent lower at Rs 140.56 on NSE at 10:50 am.
The parent firm’s net sales in the June quarter stood at Rs 2,325.07 crore, up 17.51 percent from Rs 1,978.64 crore in year-ago period.
The quarterly net profit was at Rs 58.89 crore in June 2024, higher by 16.52 percent over Rs 50.54 crore in same period of last financial year.
EBITDA came in at Rs 839.08 crore in June 2024, up 14.37 percent from Rs 733.65 crore in June 2023, while Edelweiss EPS increased to Rs 0.95 in the reported period from Rs 0.56 in June 2023.
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