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Dec 22, 2012
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Edelweiss to sell 26% stake in its housing finance arm
Edelweiss Financial Services will divest 26 per cent stake in its housing finance arm, Edelweiss Housing Finance, to a foreign strategic partner within an year, according to Rashesh Shah, chairman. “We want to do it in a year’s time. Our idea is to divest as little (stake) as possible. But I think any strategic partner will want at least 26 per cent,” Shah told Business Standard on the sidelines of an event here on Friday. The company will appoint a merchant banker to manage the transaction. Edelweiss Housing Finance’s loan book is Rs 1,500 crore and the company plans to expand it by Rs 1,000 crore annually.
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http://www.business-standard.com
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