Edelweiss Share Price Target Forecast 2022, 2023, 2025, 2030

30 NOVEMBER 2021

The board of Edelweiss Financial Services has approved a Rs 1,000 crore NCD fundraising plan.

Edelweiss Financial Services’ board of directors has authorised a public offering of non-convertible debentures worth up to Rs 1,000 crore, half of which would be forfeited in the first tranche.

The Debenture Fundraising Committee of the firm’s board of directors evaluated and authorised the public offering of secured, redeemable non-convertible debentures (NCDs) on Monday (November 29), the business stated in a filing on Tuesday.

NCDs with a face value of Rs 1,000 each will be issued for an amount up to Rs 200 crore (Base issue size), with the option of maintaining oversubscription up to Rs 300 crore, for a total of Rs 500 crore (Instalment I issue). According to Edelweiss’ regulatory filing, the shelf limit is Rs 1,000 crore.

CRISIL has assessed the NCDs the business plans to issue as AA/negative with a negative outlook for sums up to Rs 1,000 crore, according to the company.

ACUITE, on the other hand, has assigned an AA/negative rating to notes with a negative outlook worth up to Rs 1,500 crore.

CRISIL has assessed the NCDs the business plans to issue as AA/negative with a negative outlook for sums up to Rs 1,000 crore, according to the company.

NCD is being considered for BSE listing. The Board of Directors or the Debenture Fundraising Committee will choose the date for allotment of bonds. Edelweiss Financial Services’ stock finished at Rs 66.65 on the Bombay Stock Exchange on Tuesday, down 2.98 percent from the previous close.

Moneycontrol.com is the source for this information.


18 OCTOBER 2021

Arthur Gallagher acquires a share in Edelweiss’ insurance brokerage arm.

Following the acquisition of a majority share to Arthur Gallagher & Company, Edelweiss Financial Services announced on Monday that its insurance brokerage arm EGIBL is no longer a subsidiary. In July of this year, Edelweiss announced that Arthur Gallagher And Company had purchased a share in its subsidiary Edelweiss Gallagher Insurance Brokers Ltd. (EGIBL) (AJG).

“On October 18, 2021, the Company transferred a 61 percent ownership in EGIBL to AJG in the first tranche, following receipt of relevant clearances.” As a result, AJG now controls 91 percent of EGIBL, and the business no longer considers EGIBL to be a subsidiary,” Edelweiss stated in a regulatory filing.

The Insurance Regulatory and Development Authority of India has approved the disinvestment of EGIBL’s shareholding (IRDA). In the next months, the company will become known as Gallagher.

The Edelweiss Group will focus on increasing its life and non-life insurance businesses, which are among the fastest growing in the sector, according to a press statement.

“At Edelweiss, we’re always motivated by collaborating at the right moment to generate long-term value, seeding, nurturing firms, and scaling them.” “We have had a wonderful working relationship with the Gallagher team, and we are convinced that they will bring a lot of value to the company and give it a global edge,” said Rashesh Shah, President of the Edelweiss Group.

According to Shah, the move gives Edelweiss Group the option to transfer capital after the acquisition, as well as a significant strategic collaboration in the wealth industry.

“As India recovers from the epidemic, we now have large cash and a healthy balance sheet, and we look forward to increasing our fast rising life and non-life insurance operations,” he added.

Edelweiss Financial Services’ stock ended the day on the BSE at Rs 81, up 1.69 percent from the previous close.

Moneycontrol.com is the source for this information.


17 AUGUST 2021

As a result of the opening of the NCD offering, Edelweiss Financial Services’ stock has increased by 5%.

After Edelweiss Financial Services Company’s secured redeemable non-convertible debenture (NCD) issuance opened for subscription, the stock climbed more than 5%. Investors will receive Secured Redeemable Non-Convertible Debentures (NCDs) from the corporation.

There are eight different types of NCDs, each having a set rate of interest between 8.75 and 9.7%, and tenors of 36, 60, and 120 months. There are three types of interest: yearly, monthly, and cumulative. This results in an annual effective yield of 9.09 percent to 9.70 percent.

Investors who own EFS or prior EFS bonds or shares of NCDs issued by EFS or its subsidiaries will get an additional 20 basis points. NCDs have a face value of Rs 1,000 and a minimum investment of Rs 10,000 is needed for all NCDs. The NCD will only be available in demat form and will be traded on the BSE.

ICRA has given the Rs 400 crore NCD issuance with green shoe option an A+ (Negative) rating while Acuity has given it an AA (Outlook: Negative) rating. Around 75% of the monies received will be utilised to pay down current debt.

On the BSE, Edelweiss Financial Services was bidding Rs 84.70 at 11:26 a.m., up Rs 3.10 or 3.80%.

Moneycontrol.com is the source for this information.


JULY 02, 2021

As Edelweiss Financial Services plans to depart its insurance broking JV, its stock price rises.

When Edelweiss Financial Services agreed to sell its 70% ownership in the insurance brokerage JV on July 2, its stock price increased by more than 2%.

Edelweiss Financial Services announced today that it will sell its 70% ownership in Edelweiss Gallagher Insurance Brokers Ltd for Rs 307.60 crore, exiting the insurance brokerage sector.

“The Company has entered into an agreement with Arthur Gallagher & Company to sell its whole (now 70%) share in Edelweiss Gallagher Insurance Brokers Ltd, a subsidiary engaged in the business of insurance broking,” Edelweiss stated. In a regulatory filing, Financial Services stated.

Gallagher, who previously owned 30% of the company, will now purchase the remaining shares, bringing his ownership to 100%, according to the filing.

According to the agreement, the business would sell 37,00,000 equity shares of Rs 10 each, representing 70% of Edelweiss Gallagher Insurance Brokers’ paid-up share capital, for a total payment of Rs 307.60 crore in one or more instalments, in the manner specified in the agreement.

The stock was trading at Rs 74.10 at 11:27 a.m., up Rs 2.00 or 2.77 percent. It has traded between a high of Rs 75.40 and a low of Rs 73.35 during the day. The stock traded with a volume of 217,515 shares, up 61.70 percent from its five-day average of 134,516 shares.

The transaction will allow Edelweiss Group Chairman Rashesh Shah to “re-allocate resources and invest in building our fast growing life and non-life insurance companies, making it lucrative for both of us,” he added. The deal will go through.”

The transaction is subject to regulatory and other necessary approvals (including the Insurance Regulatory and Development Authority of India’s approval) as well as the fulfilment of the Agreement’s duties and conditions.

Moneycontrol.com is the source for this information.


18 MARCH 2021

Due to a whistleblower allegation, Edelweiss Financial Services shares have been frozen in the lower circuit.

After the Ministry of Corporate Affairs (MCA) requested a review of Edelweiss Asset Reconstruction Company’s accounts, the stock price of Edelweiss Financial Services fell 5% on March 18. (ERC).

There were 54,990 shares with pending sell orders, but no buyers were available.

Following a letter made by a whistleblower to the Prime Minister’s Office (PMO) and the Reserve Bank of India (RBI) claiming fraud on the business, the MCA has requested a review of EARC’s records.

Paras Kuhad, a former Additional Solicitor General of India, has claimed that the Edelweiss Group, the asset reconstruction company’s principal shareholder, and its Canadian pension fund partner Cais de dépée et Placement du Québec (CDPQ), stole at least Rs. 1,800 crore from EARC. EARC, which controls assets worth Rs 45,000 crore, has a 14 percent interest in Kuhad and his family.

Edelweiss ARC denies any wrongdoing and claims to be abiding by all laws in text and spirit. CDPQ did not reply to a request for comment sent through email.

An examination of books does not imply that a company has broken the law. This is the initial phase in the investigation process, in which an Investigating Officer takes down the statements of the company’s officials. Based on the results, the Ministry may determine whether the inquiry should be closed or if it should be referred to the Serious Fraud Examination Office for further investigation.

Moneycontrol has examined a copy of the MCA letter ordering the examination of its Mumbai branch, which was prompted by a whistleblower report received through the PMO.

Edelweiss Financial Services Limited is a financial services firm that specialises in investment banking, institutional equities, private client broking, asset management, and investment advising. It also offers corporate, institutional, and high-net-worth individuals asset management, insurance broking, and wholesale finance services.

Edelweiss Financial Services was down Rs 4.20, or 4.98 percent, at Rs 80.20 on the BSE at 1007 p.m.

Moneycontrol.com is the source for this information.


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