Nuvama Wealth Management approves investment of Rs 100 crore in NWFL
The investment is being made for general business purposes of the WOS
Nuvama Wealth Management has approved investment of Rs 100 crore, through subscription in the right issue of equity shares of Nuvama Wealth Finance (NWFL), a wholly owned material subsidiary (WOS) of the Company. The investment is being made for general business purposes of the WOS.
The said transaction is expected to be completed within 2 months from the date of intimation. There will be no change in percentage of shareholding of the company in NWFL and will continue to remain WOS of the company.
Nuvama Wealth Management (formerly known as Edelweiss Securities) is the flagship company of the Nuvama group. The company carries on the business of broking and trading in equity securities (including derivatives and currencies) listed on stock exchanges in India and in futures contracts, for institutional and non-institutional (including retail) clients.
