Edelweiss Group

Edelweiss Group (Officially known as Edelweiss Financial Services Limited) is an investment and financial services company based in Mumbai, India.[3] It is not backed up by any major conglomerate,[4] co-founded by Rashesh Shah.

Edelweiss Group
TypePublic
BSE: 532922
NSE: EDELWEISS
ISININE532F01054
IndustryFinancial services
FoundedNovember 1995 (November 1995)
FoundersRashesh Shah
Venkat Ramaswamy
HeadquartersMumbai, Maharashtra, India
Area served
Worldwide
Key people
Rashesh Shah
(Chairman & CEO)
Products
Revenue₹9,602 crore (US$1.3 billion)[1] (2020)
₹−2,456 crore (US$−340 million)[1] (2020)
₹−2,045 crore (US$−290 million)[1] (2020)
Total assets₹54,280 crore (US$7.6 billion)[2] (2020)
Total equity₹6,128 crore (US$860 million)[2] (2020)
Number of employees
~11,000 (2020)[2]
Subsidiaries
Websiteedelweissfin.com

The company is dealing in various financial services ranging from brokerage services to life insurance and general insurance, private equity and other investment-related services through subsidiaries.[5] It has a network of sub-brokers and authorised people across India. It is registered with National Stock Exchange of India, Bombay Stock Exchange and MCX Stock Exchange. Initially, the company worked on private equity syndication, mergers, acquisitions (M&A) and focused on advisory services.[6] In 2000, the company had capital mark of Rupees 50 million. It acquired Rooshnil Securities in 2017.[7]

History

Edelweiss was founded in 1995 by Rashesh Shah and Venkat Ramaswamy.[8]

Edelweiss worked on mergers & acquisitions, providing advisory and investment banking services.[9] Edelweiss also offered equity broking, portfolio management, and wholesale financing services to individuals and corporates.[10]

1996–2004

The company became a merchant bank in 2000.[11] It was also helped start-ups raise funds via the non-IPO route, Venture Capital (VC) and Private Equity funds (PE).[12]

2004–2012

During this period Edelweiss added institutional broking and non-banking financial company (NBFC) activity to its portfolio.[13] In 2007, Edelweiss obtained its Clearing Member License.[14] The same year, Edelweiss commenced asset management business with the launch of real estate funds.

In 2007, Edelweiss Global Wealth Management was established[15] to offer wealth structuring solutions, asset protection, asset transfer strategies, risk management and investment banking solutions.[16]

In 2008, EdelGive Foundation (the company's charitable wing) was established with education and livelihoods as its primary focus areas.[17]

In 2010, Edelweiss acquired Anagram Capital, for Rs. 164 crore.[18] In 2011, Edelweiss Tokio Life Insurance was established as a joint venture between Edelweiss and Japanese insurer Tokio Marine. Edelweiss held a 74 per cent stake in the JV.[19]

2012–present

In 2014, Edelweiss Financial Services acquired Mumbai-based asset management company, Forefront Capital Management.[20]

In 2016, Edelweiss Asset Management Company completed the acquisition of fund schemes of JP Morgan Asset Management India.[21]

In September 2016, Edelweiss Financial Services Ltd also agreed to acquire Ambit Investment Advisors' longshot hedge fund Ambit Alpha Fund.[22]

In 2016, Caisse de dépôt et placement du Québec (CDPQ), a pension fund manager in North America, acquired 20 per cent equity stake in Edelweiss Asset Reconstruction Company (EARC) with a view to investing annually in stressed assets and the specialized corporate credit segment, over a four-year period.[23]

See also

References
  1. "Edelweiss Financial Services Consolidated Profit & Loss account". moneycontrol.com.
  2. "Edelweiss Financial Services Consolidated Balance Sheet". moneycontrol.com. Retrieved 14 July 2020.
  3. "How Edelweiss built a business for the long run | Forbes India". Forbes India.
  4. "Forbes".
  5. "Economic Times". Economic Times. 23 November 2017.
  6. "Rashesh Shah: Every setback is an opportunity to recalibrate | Forbes India". Forbes India.
  7. Sultana, Nasrin (20 December 2017). "Edelweiss Group acquires Religare's securities business". Livemint.com.
  8. Sinha, Shilpy (14 September 2016). "What makes investors trust their money with these 5 financial supermarkets of India". The Economic Times. Retrieved 22 January 2018.
  9. Editorial, Reuters. "Company Profile for ${Instrument_CompanyName}". IN. Retrieved 26 March 2019.
  10. "Edelweiss Financial: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of Edelweiss Financial - NDTV". www.ndtv.com. Retrieved 26 March 2019.
  11. "Forbes India Magazine - Print". www.forbesindia.com. Retrieved 26 March 2019.
  12. "Edelweiss Financial: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of Edelweiss Financial - NDTV". www.ndtv.com. Retrieved 26 March 2019.
  13. "Edelweiss Financial: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of Edelweiss Financial - NDTV". www.ndtv.com. Retrieved 26 March 2019.
  14. "Edelweiss Financial Services History | Edelweiss Financial Services Information - The Economic Times". economictimes.indiatimes.com. Retrieved 26 March 2019.
  15. "EDELWEISS GLOBAL WEALTH MANAGEMENT LIMITED - Company, directors and contact details | Zauba Corp". www.zaubacorp.com. Retrieved 26 March 2019.
  16. "Edelweiss Financial: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of Edelweiss Financial - NDTVProfit.com". www.ndtv.com. Retrieved 26 March 2019.
  17. "EdelGive Foundation | Center for Education Innovations". educationinnovations.org. Retrieved 26 March 2019.
  18. "Edelweiss to acquire Anagram Capital". The Hindu. 28 January 2010. ISSN 0971-751X. Retrieved 26 March 2019.
  19. "Edelweiss inks joint venture agreement with Tokio Marine". The Hindu. PTI. 23 November 2009. ISSN 0971-751X. Retrieved 26 March 2019.CS1 maint: others (link)
  20. Reporter, B. S. (1 May 2014). "Edelweiss Fin Services acquires Forefront Capital Management". Business Standard India. Retrieved 26 March 2019.
  21. "Edelweiss Asset Management to acquire JP Morgan's Mutual Fund". The Economic Times. 4 April 2016. Retrieved 26 March 2019.
  22. "Edelweiss Financial acquires Ambit Alpha Fund". Forbes India. Retrieved 26 March 2019.
  23. Bureau, Our. "Canada's CDPQ to pick up 20% stake in Edelweiss ARC". @businessline. Retrieved 26 March 2019.
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