imported>Citation bot at 14:34, 2 September 2021

2021-09-02T14:34:08Z

New page

{{Short description|Indian investment and financial services company}}
{{Multiple issues|
{{COI|date=June 2018}}
{{more citations needed|date=August 2017}}
}}
{{Use dmy dates|date=September 2018}}
{{Use Indian English|date=September 2018}}

{{Infobox company
| name = Edelweiss Group
| logo = Edelweiss Group logo.svg
| logo_size = 250px
| type = [[Public company|Public]]
| location = [[Mumbai, Maharashtra]], India
| founders = [[Rashesh Shah]]<br />Venkat Ramaswamy
| key_people = Rashesh Shah<br />([[Chairman]] & [[CEO]])
| area_served = Worldwide
| industry = [[Financial services]]
| products = {{ubl|[[General insurance]] |[[Life insurance]] |[[Mortgage loan]]s |[[Investment banking]] |[[Investment management]] |[[Wealth management]] |[[Asset management]] |[[Mutual fund]] }}
| revenue = {{decrease}}{{INRConvert|9602|c}}<ref name="incomestate">{{cite web |title=Edelweiss Financial Services Consolidated Profit & Loss account |url=https://www.moneycontrol.com/financials/bajajfinserv/consolidated-profit-lossVI/BF04#BF04 |website=moneycontrol.com |language=en}}</ref>
| revenue_year = 2020
| operating_income = {{decrease}}{{INRConvert|-2456|c}}<ref name="incomestate"/>
| income_year = 2020
| net_income = {{decrease}}{{INRConvert|-2045|c}}<ref name="incomestate"/>
| net_income_year = 2020
| assets = {{decrease}}{{INRConvert|54280|c}}<ref name="BalSheet">{{Cite web|title=Edelweiss Financial Services Consolidated Balance Sheet |url=https://www.moneycontrol.com/financials/edelweissfinancialservices/consolidated-profit-lossVI/ec01#ec01|access-date=14 July 2020|website=moneycontrol.com|language=en}}</ref>
| assets_year = 2020
| equity = {{decrease}}{{INRConvert|6128|c}}<ref name="BalSheet"/>
| equity_year = 2020
| aum = {{increase}} {{INRConvert|75000|c}} <ref>{{Cite web|url=https://www.fortuneindia.com/investing/edelweiss-groups-fund-raises-6600-crore/104794|title = Edelweiss Group fund raises ₹6,600 crore}}</ref>

| num_employees = ~11,000 (2020)<ref name="BalSheet"/>
| founded = {{start date and age|df=y|November 1995}}
| ISIN = INE532F01054
| traded_as = {{BSE|532922}}<br />{{NSE|EDELWEISS}}
| subsid = {{Unbulleted list|[[Edelweiss Broking Limited]]|Edelweiss Tokio Life Insurance Company Limited|Edelweiss Asset Management Ltd}}
| homepage = {{URL|edelweissfin.com}}
}}

'''Edelweiss Group''' (Officially known as '''Edelweiss Financial Services Limited''') is an [[investment]] and [[financial services]] company based in [[Mumbai]], India.<ref>{{cite news|title=How Edelweiss built a business for the long run {{!}} Forbes India|url=http://forbesindia.com/article/boardroom/how-edelweiss-built-a-business-for-the-long-run/39907/1|work=Forbes India}}</ref> It is not backed up by any major [[Conglomerate (company)|conglomerate]],<ref>{{Cite web|url=http://forbesindia.com/article/boardroom/how-edelweiss-built-a-business-for-the-long-run/39907/1|title=Forbes}}</ref> co-founded by [[Rashesh Shah]].

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.<ref>{{Cite news|url=https://economictimes.indiatimes.com/magazines/panache/edelweiss-chairman-rashesh-shahs-advice-to-entrepreneurs-give-up-the-startup-energy-to-scale-up/articleshow/61764447.cms|title=Economic Times|date=23 November 2017|website=Economic Times|last1=Menon|first1=Rashmi}}</ref> It has a network of sub-brokers and authorised people across India. It is registered with [[National Stock Exchange of India|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.<ref>{{cite web|title=Rashesh Shah: Every setback is an opportunity to recalibrate {{!}} Forbes India|url=http://www.forbesindia.com/article/fourth-anniversary-special/rashesh-shah-every-setback-is-an-opportunity-to-recalibrate/35347/1|website=Forbes India}}</ref> In 2000, the company had capital mark of Rupees 50 million. It acquired Rooshnil Securities in 2017.<ref>{{cite news|last1=Sultana|first1=Nasrin|title=Edelweiss Group acquires Religare's securities business|url=https://www.livemint.com/Companies/z0VexoFcHq9COV4NjPfSQO/Edelweiss-acquires-Religares-securities-business.html|work=Livemint.com|date=20 December 2017}}</ref>

==History==
Edelweiss was founded in 1995 by Rashesh Shah and Venkat Ramaswamy.<ref>{{cite news|last1=Sinha|first1=Shilpy|title=What makes investors trust their money with these 5 financial supermarkets of India | url = https://economictimes.indiatimes.com/news/company/corporate-trends/what-makes-investors-trust-their-money-with-these-5-financial-supermarkets-of-india/articleshow/54321160.cms |website = The Economic Times |access-date=22 January 2018 |date=14 September 2016}}</ref>

Edelweiss worked on mergers & acquisitions, providing advisory and investment banking services.<ref>{{Cite web|url=https://in.reuters.com/finance/stocks/company-profile/EDEL.BO|title=Company Profile for ${Instrument_CompanyName}|last=Editorial|first=Reuters|website=IN|language=en|access-date=2019-03-26}}</ref> Edelweiss also offered equity broking, portfolio management, and wholesale financing services to individuals and corporates.<ref name="ndtv.com">{{Cite web|url=https://www.ndtv.com/business/stock/edelweiss-financial-services-ltd_edelweiss/reports|title=Edelweiss Financial: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of Edelweiss Financial - NDTV|website=www.ndtv.com|access-date=2019-03-26}}</ref>

=== 1996–2004 ===
The company became a merchant bank in 2000.<ref>{{Cite web|url=http://www.forbesindia.com/printcontent/35347|title=Forbes India Magazine - Print|website=www.forbesindia.com|access-date=2019-03-26}}</ref> It was also helped start-ups raise funds via the non-IPO route, [[Venture capital|Venture Capital (VC)]] and [[Private equity fund|Private Equity funds]] (PE).<ref name="ndtv.com"/>

=== 2004–2012 ===
During this period Edelweiss added institutional broking and [[Non-bank financial institution|non-banking financial company (NBFC)]] activity to its portfolio.<ref name="ndtv.com"/> In 2007, Edelweiss obtained its Clearing Member License.<ref>{{Cite web|url=https://economictimes.indiatimes.com/edelweiss-financial-services-ltd/infocompanyhistory/companyid-19100.cms|title=Edelweiss Financial Services History {{!}} Edelweiss Financial Services Information - The Economic Times|website=economictimes.indiatimes.com|access-date=2019-03-26}}</ref> The same year, Edelweiss commenced asset management business with the launch of real estate funds.

In 2007, Edelweiss Global Wealth Management was established<ref>{{Cite web|url=https://www.zaubacorp.com/company/EDELWEISS-GLOBAL-WEALTH-MANAGEMENT-LIMITED/U67100TG2007PLC112499|title=EDELWEISS GLOBAL WEALTH MANAGEMENT LIMITED - Company, directors and contact details {{!}} Zauba Corp|website=www.zaubacorp.com|access-date=2019-03-26}}</ref> to offer wealth structuring solutions,{{buzzword inline|date=September 2019}} asset protection, asset transfer strategies, risk management and investment banking solutions.{{buzzword inline|date=September 2019}}<ref>{{Cite web|url=https://www.ndtv.com/business/stock/edelweiss-financial-services-ltd_edelweiss/reports|title=Edelweiss Financial: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of Edelweiss Financial - NDTVProfit.com|website=www.ndtv.com|access-date=2019-03-26}}</ref>

In 2008, EdelGive Foundation (the company's charitable wing) was established with education and livelihoods as its primary focus areas.<ref>{{Cite web|url=https://educationinnovations.org/funder/edelgive-foundation|title=EdelGive Foundation {{!}} Center for Education Innovations|website=educationinnovations.org|access-date=2019-03-26}}</ref>

In 2010, Edelweiss acquired Anagram Capital, for Rs. 164 crore.<ref>{{Cite news|url=https://www.thehindu.com/todays-paper/tp-business/Edelweiss-to-acquire-Anagram-Capital/article15969902.ece|title=Edelweiss to acquire Anagram Capital|date=2010-01-28|work=The Hindu|access-date=2019-03-26|language=en-IN|issn=0971-751X}}</ref> 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.<ref>{{Cite news|url=https://www.thehindu.com/business/companies/Edelweiss-inks-joint-venture-agreement-with-Tokio-Marine/article16893709.ece|title=Edelweiss inks joint venture agreement with Tokio Marine|date=2009-11-23|work=The Hindu|access-date=2019-03-26|others=PTI|language=en-IN|issn=0971-751X}}</ref>

=== 2012–present ===
In 2014, Edelweiss Financial Services acquired Mumbai-based asset management company, Forefront Capital Management.<ref>{{Cite news|url=https://www.business-standard.com/article/companies/edelweiss-fin-services-acquires-forefront-capital-management-114050100262_1.html|title=Edelweiss Fin Services acquires Forefront Capital Management|last=Reporter|first=B. S.|date=2014-05-01|work=Business Standard India|access-date=2019-03-26}}</ref>

In 2016, Edelweiss Asset Management Company completed the acquisition of fund schemes of JP Morgan Asset Management India.<ref>{{Cite news|url=https://economictimes.indiatimes.com/wealth/mutual-funds/edelweiss-asset-management-to-acquire-jp-morgans-mutual-fund/articleshow/51513625.cms|title=Edelweiss Asset Management to acquire JP Morgan's Mutual Fund|date=2016-04-04|work=The Economic Times|access-date=2019-03-26}}</ref>

In September 2016, Edelweiss Financial Services Ltd also agreed to acquire Ambit Investment Advisors' longshot hedge fund Ambit Alpha Fund.<ref>{{Cite web|url=http://www.forbesindia.com/article/special/edelweiss-financial-acquires-ambit-alpha-fund/44365/1|title=Edelweiss Financial acquires Ambit Alpha Fund|website=Forbes India|language=en|access-date=2019-03-26}}</ref>

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.<ref>{{Cite web|url=https://www.thehindubusinessline.com/money-and-banking/canadas-cdpq-to-pick-up-20-stake-in-edelweiss-arc/article9179451.ece|title=Canada's CDPQ to pick up 20% stake in Edelweiss ARC|last=Bureau|first=Our|website=@businessline|language=en|access-date=2019-03-26}}</ref>

==See also==
* [[Edelweiss Broking Limited]]

== References ==
{{Reflist}}

==External links==
* {{official|https://www.edelweissfin.com/}}

{{Nifty 200 companies}}

[[Category:Financial services companies based in Mumbai]]
[[Category:Brokerage firms]]
[[Category:Indian companies established in 1995]]
[[Category:1995 establishments in Maharashtra]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]

{{India-company-stub}}

Edelweiss Group - Revision history

imported>Citation bot at 14:34, 2 September 2021