Edelweiss Group (Edelweiss) has completed the strategic investment by PAG in Edelweiss Wealth Management consequent to receipt of all regulatory approvals and closure of all formalities.
“PAG has made an investment of about ₹2,366 crore in EWM, including primary and secondary investment,” it said in a regulatory filing.
PAG Group and Edelweiss Financial Services Ltd will be the shareholders in EWM, of which PAG will hold a controlling stake
“The primary capital infusion in the EWM business from PAG will further strengthen the equity base of EWM and ensure availability of growth capital,” it further said.
In August 2020, PAG and Edelweiss had announced the strategic investment for a 51 per cent stake sale in EWM.