Mumbai-headquartered Edelweiss is in “advanced talks” to sell a 20% stake in its wealth management business to US-based Kora Management, according to a media report citing two sources.
Kora is mooted to be spending RS 2,000 crore for the stake in Edelweiss Global Wealth Management, the India’s Economic Times reported on 17 July.
“Edelweiss is in touch with prominent global institutional investors, who want to invest in high quality companies and are keen to partner in the India growth story”, one of the unnamed sources said.
Neither Edelweiss or Kora had responded to requests for comment at the time of writing of this report.
