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Edelweiss surges as its arm enters into Share Sale, Purchase agreement with IBCL

18 Nov 2016 Evaluate

Edelweiss Financial Services is currently trading at Rs. 92.20, up by 0.70 points or 0.77% from its previous closing of Rs. 91.50 on the BSE.

The scrip opened at Rs. 91.85 and has touched a high and low of Rs. 92.40 and Rs. 91.00 respectively. So far 47274 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 129.10 on 20-Oct-2016 and a 52 week low of Rs. 44.40 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 109.40 and Rs. 91.00 respectively. The current market cap of the company is Rs. 7637.72 crore.

The promoters holding in the company stood at 37.11%, while institutions and non-institutions held 31.24% and 31.66% respectively.

Edelweiss Financial Services’ wholly owned subsidiary - Edel Commodities (ECL), has entered into a Share Sale & Purchase Agreement with Inditrade Business Consultants (IBCL) on November 17, 2016 for sale of its wholly owned subsidiary namely Edel Commodities Trading (ECTL) for a deal size of minimum of Rs 13 crore receivable in cash and shares.

Consequent to the above, ECTL, Edelweiss Commodities CHAD SARL and Edelweiss Commodities Nigeria, the subsidiaries of ECTL, ceases to be the subsidiaries of ECL and, in turn of the company.

IBCL is a subsidiary of Inditrade Capital with focus on commodity procurement, financing and export of commodities. It operates in 7 states and is rapidly scaling up its operations in India and abroad.

Edelweiss Financial Services is primarily engaged in the business of rendering merchant banking services. The company operates in two segments - agency business and holding company activities.

Edelweiss Financial Share Price

119.09 1.76 (1.50%)
17-Apr-2026 16:59 View Price Chart
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