Edelweiss Financial appoints Nomura for MF stake sale

Mumbai: Edelweiss Financial Services has appointed Nomura to help find a buyer for a minority stake in its mutual fund business. According to sources, the firm is looking to sell a 25-35% stake in Edelweiss Mutual Fund and is seeking a valuation of $600 million.

"To further strengthen our international business, we are open to exploring opportunities with minority strategic partners, ensuring there is a strong alignment in values and vision," says Radhika Gupta, MD, Edelweiss MF. Nomura did not respond to a query.