The brokerage also has cautious stance on Edelweiss Financial, where it maintained hold rating.
The stock shed 35.4 percent in six consecutive sessions to hit Rs 93, the lowest level since December 2016, and 64 percent in last one year amid liquidity crisis and exposure to few debt laden companies
"Kora Management's proposed investment will initiate the third and final process for the advisory business," Edelweiss said.
The prolonged slump in the real estate industry coupled with the tight liquidity conditions can trigger a spike in bad loans for wholesale lenders
The rating of A1+ indicates very strong degree of safety regarding timely payment of financial obligations
The company had posted a net profit of Rs 240 crore during the corresponding January-March quarter of 2017-18.
The NCDs offer an effective yield of 9.90 percent per annum for 24 months tenure, 10.20 percent per annum for 39 months tenure, up to 10.42 percent for 60 months tenure and 10.42 percent for 120 months tenure.
While maintaining buy rating with a price target at Rs 205, global brokerage house Citi said CDPQ deal is positive for capital adequacy but might not immediately help liquidity.
Credit Suisse slashed price target on Edelweiss to Rs 180 from Rs 345 earlier, implying 13.2 percent downside from January 25's levels.
With the appointment of new MD & CEO, focus will now shift to business as usual and will take away near-term overhang from the stock, suggest experts.
Jefferies maintained its buy call on Newgen Software Technologies post Q3 results but raised its 12-month target price to Rs 375 from Rs 335 earlier.
The top gainers from NSE included ITC, TCS, Reliance Industries, Titan Company and Asian Paints while the top losers included Bharti Infratel, Tata Motors, UPL, Sun Pharma and YES Bank.
Citi said Edelweiss Financial is confident of maintaining strong asset quality.
Current tumultuous period provides good opportunity to accumulate growth stock like Edelweiss Financial Services for long term
The sale could happen through a combination of primary capital infusion or a secondary stake sale or a combination of both, the report said.
Edelweiss' GWAM business comprises wealth and asset management, asset reconstruction and credit funds businesses and is valued at Rs 12,000-15,000 crore.
The sale could happen through a combination of primary capital infusion or a secondary stake sale or a combination of both