Stocks

Edelweiss Financial rises 3% as CCI clears Edelweiss-Kora deal

PTI New Delhi | Updated on October 17, 2019 Published on October 17, 2019

Shares of Edelweiss Financial Services on Thursday were trading over 3 per cent higher following the Competition Commission’s approval for the US-based Kora’s proposed investment worth USD 75 million (about Rs 532 crore) in Edelweiss Group.

On the BSE, shares were up 2.95 per cent at Rs 85.40. The stock gained 3.01 per cent to trade at Rs 85.50 on the NSE.

As per the share subscription agreement, Kora is to invest in Edelweiss Securities Ltd (ESL) and Edelweiss Global Investment Advisory (EGIA) business subsidiaries. The deal was announced in August.

Published on October 17, 2019
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