Race for Nuvama Wealth: EQT, Brookfield, ChrysCapital, Axight picked for next round
· Business · Moneycontrol
Private equity firms EQT, Brookfield, ChrysCapital, and venture capital firm Axight have been selected for the next round in the bidding process for a stake in Nuvama Wealth Management. The four investors were picked from a larger pool of suitors interested in the wealth management arm of the erstwhile Edelweiss Group. Nuvama Wealth, which offers brokerage, advisory, and wealth management services, has been exploring a partial stake sale to raise capital. The move comes as the company looks to strengthen its balance sheet and expand its product offerings amid growing competition in India's wealth management space.
Why it matters
The stake sale could bring in significant fresh capital for Nuvama Wealth, enabling it to scale its digital platforms and advisory services. This development reflects the broader trend of private equity interest in India's growing wealth management sector, driven by rising household savings and investment inflows.
Read the original report — Moneycontrol
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