Edelweiss Financial rises 5% as CCI clears Edelweiss-Kora deal

Shares of Edelweiss Financial Services on Thursday were trading nearly 5 per cent higher following the Competition Commission's approval for the US-based Kora's proposed investment worth $75 million (about Rs 532 crore) in Edelweiss Group.

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.


The shares of the company closed 4.88 per cent higher at Rs 87 on BSE.