Edelweiss Financial Services (EFSL) is divesting majority of it’s stake in the Home Finance Business.
- The subject business is currently under Nido Home Finance Limited (Nido), a wholly-owned subsidiary of EFSL.
- EFSL is divesting 73% stake of this entity through a mix of primary and secondary to Carlyle group and Aditya Puri Family investment vehicle. Total transaction is worth Rs 2,100 cr.
- Rs 602 cr is secondary sale by EFSL for 45% stake
- and balance Rs 1,500 cr is primary through a mix of equity (1/3rd) and warrants (2/3rd)
- Both primary and secondary are priced @ Rs 193/ share
- Puri Family is acquiring around 7.2% of the subject transaction and balance 92.8% by Carlyle.
- So out of 73%, Puri family will own about 5.25% and balance 67.8% by Carlyle
- The acquired business contributed just 5.5% of EFSL’s consolidated income and around 4% of net profits in FY 25
It seems like a good divestment by EFSL.