Edelweiss Group

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Edelweiss Group
Company typePublic
BSE: 532922
NSE: EDELWEISS
ISININE532F01054
IndustryFinancial services
FoundedNovember 1995; 28 years ago (November 1995)
FoundersRashesh Shah
Venkat Ramaswamy
HeadquartersMumbai, Maharashtra, India
Area served
Worldwide
Key people
Rashesh Shah
(Chairman & CEO)
Products
RevenueIncrease ₹8,632 crore (US$1.1 billion)[1] (2023)
Decrease ₹2,827 crore (US$350 million)[1] (2023)
Increase ₹273 crore (US$34 million)[1] (2023)
AUMIncrease ₹175,000 crore (US$22 billion)[2] (2023)
Total assetsIncrease ₹44,064 crore (US$5.5 billion)[1] (2023)
Total equityIncrease ₹6,654 crore (US$830 million)[1] (2023)
Number of employees
8,820 (2023)[1]
Subsidiaries
  • Edelweiss Tokio Life Insurance Company Limited
  • Edelweiss Asset Management Ltd
Websiteedelweissfin.com

Edelweiss Group (officially known as Edelweiss Financial Services Limited) is an investment and financial services company based in Mumbai.[3] It was co-founded by Rashesh Shah and Venkat Ramaswamy.

The company deals in various financial services ranging from brokerage services to life insurance and general insurance, private equity and other investment-related services through subsidiaries.[4] It has a network of sub-brokers and authorised people across India. It is registered with National Stock Exchange of India, Bombay Stock Exchange and Multi Commodity Exchange.

History[edit]

Edelweiss was founded in 1995 by Rashesh Shah and Venkat Ramaswamy.[5] Initially, the company worked on private equity syndication, mergers, acquisitions (M&A) and focused on advisory services.[6]

Edelweiss worked on mergers & acquisitions, providing advisory and investment banking services.[7] Edelweiss also offered equity broking, portfolio management, and wholesale financing services to individuals and corporates.[8]

1996–2004[edit]

The company became a merchant bank in 2000.[9] It was also helped start-ups raise funds via the non-IPO route, Venture Capital (VC) and Private Equity funds (PE).[8] In 2000, the company had capital mark of ₹50 million. It acquired Rooshnil Securities in 2001.[10]

2004–2012[edit]

During this period Edelweiss added institutional broking and non-banking financial company (NBFC) activity to its portfolio.[8] In 2007, Edelweiss obtained its Clearing Member License.[11] The same year, Edelweiss commenced asset management business with the launch of real estate funds.

In 2007, Edelweiss Global Wealth Management was established[12] to offer wealth structuring solutions,[buzzword] asset protection, asset transfer strategies, risk management and investment banking solutions.[buzzword][13]

In 2008, EdelGive Foundation (the company's charitable wing) was established with education and livelihoods as its primary focus areas.[14]

In 2010, Edelweiss acquired Anagram Capital, for Rs. 164 crore.[15] In 2011, Edelweiss Tokio Life Insurance was established as a joint venture between Edelweiss and Japanese insurer Tokio Marine. Edelweiss held a 74 per cent stake in the JV.[16]

2012–present[edit]

In 2014, Edelweiss Financial Services acquired Mumbai-based asset management company, Forefront Capital Management.[17]

In 2016, Edelweiss Asset Management Company completed the acquisition of fund schemes of JP Morgan Asset Management India.[18]

In September 2016, Edelweiss Financial Services Ltd also agreed to acquire Ambit Investment Advisors' longshot hedge fund Ambit Alpha Fund.[19]

In 2016, Caisse de dépôt et placement du Québec (CDPQ), a pension fund manager in North America, acquired 20 per cent equity stake in Edelweiss Asset Reconstruction Company (EARC) with a view to investing annually in stressed assets and the specialized corporate credit segment, over a four-year period.[20]

In 2022, Edelweiss General Insurance's Group Health Policy includes LGBTQ+ community.[21]

See also[edit]

References[edit]

  1. ^ a b c d e f "Edelweiss Group". 2023.
  2. ^ https://www.edelweissfin.com/wp-content/uploads/2023/09/Investor-Presentation-Q3FY24.pdf
  3. ^ "How Edelweiss built a business for the long run | Forbes India". Forbes India.
  4. ^ Menon, Rashmi (23 November 2017). "Economic Times". Economic Times.
  5. ^ Sinha, Shilpy (14 September 2016). "What makes investors trust their money with these 5 financial supermarkets of India". The Economic Times. Retrieved 22 January 2018.
  6. ^ "Rashesh Shah: Every setback is an opportunity to recalibrate | Forbes India". Forbes India.
  7. ^ Editorial, Reuters. "Company Profile for ${Instrument_CompanyName}". IN. Retrieved 26 March 2019. {{cite web}}: |first= has generic name (help)
  8. ^ a b c "Edelweiss Financial: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of Edelweiss Financial - NDTV". www.ndtv.com. Retrieved 26 March 2019.
  9. ^ "Forbes India Magazine - Print". www.forbesindia.com. Retrieved 26 March 2019.
  10. ^ Sultana, Nasrin (20 December 2017). "Edelweiss Group acquires Religare's securities business". Livemint.com.
  11. ^ "Edelweiss Financial Services History | Edelweiss Financial Services Information - The Economic Times". economictimes.indiatimes.com. Retrieved 26 March 2019.
  12. ^ "EDELWEISS GLOBAL WEALTH MANAGEMENT LIMITED - Company, directors and contact details | Zauba Corp". www.zaubacorp.com. Retrieved 26 March 2019.
  13. ^ "Edelweiss Financial: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of Edelweiss Financial - NDTVProfit.com". www.ndtv.com. Retrieved 26 March 2019.
  14. ^ "EdelGive Foundation | Center for Education Innovations". educationinnovations.org. Archived from the original on 20 November 2018. Retrieved 26 March 2019.
  15. ^ "Edelweiss to acquire Anagram Capital". The Hindu. 28 January 2010. ISSN 0971-751X. Retrieved 26 March 2019.
  16. ^ "Edelweiss inks joint venture agreement with Tokio Marine". The Hindu. PTI. 23 November 2009. ISSN 0971-751X. Retrieved 26 March 2019.
  17. ^ Reporter, B. S. (1 May 2014). "Edelweiss Fin Services acquires Forefront Capital Management". Business Standard India. Retrieved 26 March 2019.
  18. ^ "Edelweiss Asset Management to acquire JP Morgan's Mutual Fund". The Economic Times. 4 April 2016. Retrieved 26 March 2019.
  19. ^ "Edelweiss Financial acquires Ambit Alpha Fund". Forbes India. Retrieved 26 March 2019.
  20. ^ "Canada's CDPQ to pick up 20% stake in Edelweiss ARC". @businessline. 3 October 2016. Retrieved 26 March 2019.
  21. ^ Standard, Business. "Edelweiss". {{cite news}}: |first1= has generic name (help)

External links[edit]


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